Circular no. SEBI/HO/AFD/AFD-POD-1/P/CIR/2025/136; Dated: 15.10.2025
The Securities and Exchange Board of India (SEBI) has announced an extension of the compliance deadline for Angel Funds registered under the Alternative Investment Funds (AIF) Regulations.
1. Revised Deadline
The earlier deadline of October 15, 2025, for complying with disclosure norms related to investment allocation methodology, has now been extended to January 31, 2026.
This extension has been provided to ensure ease of compliance and to give Angel Funds additional time to align their internal systems with the new disclosure requirements.
2. Post-Deadline Compliance Requirement
From February 1, 2026 onwards, any new investment allocations made by existing Angel Funds must strictly follow the defined allocation methodology as disclosed in their Private Placement Memorandum (PPM).
This ensures transparency and uniformity in investment practices among Angel Funds operating under the AIF framework.
3. Immediate Implementation of Circular
The circular has come into effect immediately upon issuance. Angel Funds are therefore expected to take note of the revised timelines and plan their compliance activities accordingly.
4. Rationale Behind the Extension
The extension follows representations from the AIF industry, where multiple stakeholders requested SEBI for additional time to effectively implement the revised framework.
By accommodating these concerns, SEBI aims to facilitate a smoother transition and promote better compliance culture within the AIF ecosystem.
Click Here To Read The Full Circular
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