Chapter III-A · Angel Funds
Regulation 19A
Definitions
Chapter III-A · Angel Funds
SEBI (Alternative Investment Funds) Regulations, 2012
In plain English
In plain English
These definitions apply to angel funds. An angel fund is a sub-category of Category I AIF that raises money only from accredited investors and invests under this Chapter. An angel investor is an accredited investor, or key management personnel of the angel fund or its manager, who invests in it. 'Related party' takes the meaning in the SEBI Listing Regulations.
Where this sits
Regulation 19A is in Chapter III-A — Angel Funds of the SEBI (Alternative Investment Funds) Regulations, 2012.
Provisos, explanations and conditions
This regulation has no provisos or explanations in its text. Check Connections for other provisions it refers to.
What changed
No change to this regulation by the 2026 amendments (No. 303 of 16 April 2026 and No. 313 of 10 July 2026).
Words in square brackets in the official text mark earlier amendments made before 2026. Their earlier wording is not shown because it has not been verified here.
Where it connects
Provisions this regulation refers to
Chapter
Check yourself
1 practice question on Regulation 19A, each with an explanation for every option.
- An angel fund is a sub-category of:
The regulation
19A. For the purposes of this Chapter, unless the context otherwise requires, the terms defined herein shall bear the meanings assigned to them below, and their cognate expressions and variations shall be construed accordingly,(1) “angel fund” means a sub-category of[***] Category I- Alternative Investment Fund that raises funds from[accredited investors] and invests in accordance with the provisions of this Chapter. [(2) "angel investor" means an accredited investor, or key management personnel of an angel fund or its manager, who invests in an angel fund.] [(3) "related party" shall have the same meaning as assigned to it under clause (zb) of sub- regulation (1) of regulation 2 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.]
Text from the consolidated Regulations. Square brackets and [***] mark earlier amendments and omissions, as in the official text. Check the official Gazette text before relying on it.
Last checked against source on 10 October 2026: consolidated Regulations to 19 November 2025, read with Amendment Regulations No. 303 (16 April 2026) and No. 313 (10 July 2026).
Source and verification
- Instrument
- SEBI (Alternative Investment Funds) Regulations, 2012 — Regulation 19A
- Text used
- Consolidated Regulations as amended up to 19 November 2025, read with the 2026 amendments (no change to this regulation)
- Last checked
- 10 October 2026
- Official source
- www.sebi.gov.in → Legal → Regulations. The Gazette text prevails.
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