Sebi Extends Deadline for Angel Funds To Comply With Accredited Investor Mandate

Authored By PTI | Last Modified: Sep 8, 2026 10:26 AM IST

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New Delhi: Markets regulator Sebi on Monday extended the deadline for existing Angel Funds to comply with the accredited investor mandate by nearly seven months to March 31, 2027.

The move comes after representations from the Alternative Investment Fund (AIF) industry seeking additional time for Angel Funds to comply with the revised regulatory framework.

Earlier, Angel Funds registered with the Securities and Exchange Board of India (Sebi) on or before September 10, 2025, were required to implement the accredited investor mandate by September 8, 2026.

In a circular, the regulator said these funds can now continue to offer investment opportunities to non-accredited investors until March 31, 2027, subject to a limit of 200 such investors.

However, from April 1, 2027, these Angel Funds will not be allowed to accept contributions from non-accredited investors for investment in an investee company.

Sebi clarified that existing investors will continue to hold their investments already made in the Angel Fund in accordance with the terms of the private placement memorandum (PPM) and other fund documents.

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