Angel Funds: SEBI Extends Timeline to Disclose Allocation Methodology

On 15th October 2025, the Securities and Exchange Board of India (SEBI) extended the deadline for Angel Funds to disclose their investment allocation process in Private Placement Memorandums (PPMs).

What are Angel Funds?

  • Angel funds refer to a money pool created by high networth individuals or companies (generally called as angel investors), for investing in business startups.
  • In India the term Angel Funds is defined in SEBI (Alternative Investment Funds) (Amendment) Regulations, 2013.
  • Here, Angel fund is defined as a sub-category of Venture Capital Fund under Category I- Alternative Investment Fund (AIF) that raises ....
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