Firm commitment requirement for registration as Foreign Venture Capital Investors

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..... Madam, Sub: Firm commitment requirement for registration as Foreign Venture Capital Investors 1. The SEBI (Venture Capital Funds) Regulations, 1996 (VCF Regulations) lay down conditions for "minimum investment in a venture capital fund" under Regulation 11 of VCF Regulations. The Regulation 11(3) of the VCF Regulations requires firm commitment from investors for contribution of an amount before .....

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..... he Foreign Venture Capital Investors, henceforth, shall obtain firm commitment from their investors for contribution of an amount of at least USD 1 million at the time of submission of applications seeking registration as FVCIs. 4. This circular is issued in exercise of powers conferred under Section 11 (1) of the Securities and Exchange Board of India Act, 1992, to protect the interests of inves .....

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