The Securities and Exchange Board of India (SEBI) on Relaxation in timeline with respect to Accredited Investor mandate for Angel Funds.
The following has been stated namely: -
• Angel Funds registered after September 10, 2025 must offer investment opportunities only to Accredited Investors.
• Angel Funds registered on or before September 10, 2025 have been given additional time to comply. The deadline is extended from September 8, 2026 to March 31, 2027.
• Until March 31, 2027, existing Angel Funds cannot offer investment opportunities to more than 200 non-Accredited Investors.
• Angel Funds After March 31, 2027 cannot accept contributions from non-Accredited Investors for investment in an investee company.
• Investors who have already invested can continue to hold their investments according to the PPM/fund documents. All other Chapter 8 provisions remain unchanged.
This circular shall be effective from September 07, 2026.
[Notification No. HO/19/34/11(7)2025-AFD-POD1/I/20626/2026]
