Timeline Extended for Angel Funds to Comply with Accredited Investor Mandate 

SEBI has extended the timeline for existing Angel Funds to comply with the Accredited Investor mandate under the regulatory framework governing Alternative Investment Funds (“AIFs”). 

Angel Funds registered with SEBI on or before September 10, 2025 will now have until March 31, 2027 to implement the Accredited Investor mandate. During the extended transition period, such funds will continue to be subject to the applicable restriction on offering investment opportunities to more than 200 non-Accredited Investors. Contributions from non-Accredited Investors for investment in an investee company cannot be accepted after March 31, 2027. 

The amendment extends the transition timeline without changing the underlying regulatory objective. Existing Angel Funds should use the extended period to review their investor base, assess accreditation status and update their investor onboarding, subscription and fund documentation processes as required. 

Last Updated on 29 September, 2026