On November 13, ET reported that Sebi had proposed raising the maximum investment limit by an angel fund in a startup to Rs 25 crore. Angel funds, a type of Category I Alternative Investment Fund’s – Venture Capital Funds, provide capital to start-ups from angel investors.
Now, along with the said proposal, investors may soon be allowed to include Hindu undivided families (HUFs), family trusts, and sole proprietorships which will expand the scope for angel funds, Business Standard reported.
Sebi had proposed that the minimum investment limit should be reduced to Rs 10 lakh from the present Rs 25 lakh, and that the maximum investment limit be increased to Rs 25 crore from the current Rs 10 crore. It had also put forward that only “accredited investors” may invest in angel funds. This would simplify their fundraising processes, encourage transparency and provide operational clarity and investment flexibility.
The regulator might also remove the minimum corpus requirement of Rs 5 crore, if five accredited investors are onboarded before angel funds start investing. For such funds, the 25% diversification limit will be removed.
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All such moves will be a huge relief for upcoming startups and will ensure that these funds will be limited to investors with the right risk appetite and possess the ability to evaluate investment proposals.
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