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SEBI Asks For Rs 5 Cr Firm Commitment From Foreign VCs

Posted on July 04, 2009

Market regulator Securities and Exchange Board of India (SEBI) has said that it is mandatory for foreign venture capital investors (FVCIs) to get a firm commitment of at least $1 million (Rs 5 crore)from their investors for registration. This step by SEBI would bring the regulations for foreign funds at par with those of domestic funds.The order stated that Each scheme launched or fund set up by a venture capital fund shall have firm commitment from the investors for contribution of the minimum stipulated amount before the start ofoperations by the venture capital fund. The move is ...

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