Securities And Exchange Board Of India - Subsection
Section 19A(2) in Securities and Exchange Board of India (Alternative Investment Funds) Regulations, 2012
(2)"angel investor" means any person who proposes to invest in an angel fund and satisfies one of the following conditions, namely,(a)an individual investor who has net tangible assets of at least two crore rupees excluding value of his principal residence, and who:(i)has early stage investment experience, or(ii)has experience as a serial entrepreneur, or(iii)is a senior management professional with at least ten years of experience;Explanation: For the purpose of this clause, 'early stage investment experience' shall mean prior experience in investing in start-up or emerging or early-stage ventures and 'serial entrepreneur' shall mean a person who has promoted or co-promoted more than one start-up venture.(b)a body corporate with a net worth of at least ten crore rupees; or(c)an Alternative Investment Fund registered under these regulations or a Venture Capital Fund registered under the SEBI (Venture Capital Funds) Regulations, 1996.
