Guidelines for Overseas Investments by Venture Capital Funds

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..... Fund (VCFs) are permitted to invest in securities of foreign companies in terms of regulation 12(ba) of the SEBI (Venture Capital Funds) Regulations 1996. Reserve Bank of India (RBI) vide its Circulars dated April 30, 2007 and May 04,2007, issued in this regard, has permitted these VCFs to invest in equity and equity linked instruments only of off-shore venture capital undertakings, subject to ove .....

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..... investible funds of a VCF. iii. The allocation of investment limits would be done on 'first come- first serve' basis, depending on the availability in the overall limit of USD 500 million. iv. It is clarified that in case a VCF who is allocated certain investment limit, wishes to apply for allocation of further investment limit, the fresh application shall be dealt with on the basis of the dat .....

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..... n exercise of the powers conferred under subsection (1) of Section 11 of the Securities and Exchange Board of India Act, 1992 and is without prejudice to compliances/permissions/approvals, if any, required under any other law. Yours faithfully, Satya Ranjan Prasad Annexure Proposal for Overseas Investment by Venture Capital Funds To Securities and Exchange Board of India Mumbai Name of the .....

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