Relaxation in timeline with respect to Accredited Investor mandate for Angel Funds

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....nvestor mandate for Angel Funds 1. Securities and Exchange Board of India (Alternative Investment Funds) Regulations, 2012 ('AIF Regulations') were amended and notified on September 09, 2025, to prescribe the revised regulatory framework for Angel Funds. 2. Subsequently, SEBI vide circular dated September 10, 2025 stipulated the specific conditions and modalities with respect to the revised ....

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....not offer investment opportunity to more than 200 non-Accredited Investors during this period. (b) Such Angel Funds shall not accept contribution for investment in an investee company from non-Accredited Investors, post September 08, 2026. (c) Existing investors of such Angel Funds shall continue to hold their investments already made in the Angel Fund as per the terms of the PPM....

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.... in an investee company from non-Accredited Investors, post March 31, 2027. (c) Existing investors of such Angel Funds shall continue to hold their investments already made in the Angel Fund as per the terms of the PPM and/or fund documents of the Angel Fund." 6. All other provisions of Chapter 8 of the AIF Master Circular shall remain unchanged. 7. This circular shall come into for....