• Investment World
• eWorld
• Brand Line
• Mentor
• Life
• Brand Quest
• The New Manager
• BL Club
• Smartbuy
• Books
• Gallery

Stocks

• Quotes
• SE Diary
• Scoreboard
• Open-End Mutual Fund

Cross Currency

• Rates
  
  

Shipping

• Ports
  
  

Archives

• Yesterday
• Datewise
• Resources
• In Focus
• In Depth
• Events 2007

Group Sites

• The Hindu
• The Hindu ePaper
• Business Line
• Business Line ePaper
• Sportstar
• Frontline
• The Hindu eBooks
• The Hindu Images

Our Bureau

Mumbai, July 3 SEBI has made it mandatory for foreign venture capital investors (FVCIs) to obtain firm commitment of at least $1 million from their investors for eligibility to apply for registration.

The new eligibility norms for FVCIs will bring in parity between domestic venture capital funds and FVCIs, SEBI said.

“Applicants desirous of registering with SEBI as the FVCIs, henceforth, shall obtain firm commitment from their investors for contribution of an amount of at least USD 1 million,” a SEBI circular said.

For domestic venture capital funds, the SEBI (Venture Capital Funds) Regulations, 1996, lays down a firm commitment of at least Rs 5 crore before start of operations. So far there was no such requirement for FVCIs in the SEBI (FVCIs) Regulations, 2000, the circular said.

More Stories on : Venture Capital | Regulatory Bodies & Rulings

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Copyright © 2009, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line