Chapter III-D · Migrated Venture Capital Funds
Regulation 19X
Procedure for grant of Certificate
Chapter III-D · Migrated Venture Capital Funds
SEBI (Alternative Investment Funds) Regulations, 2012
In plain English
In plain English
A venture capital fund applies to SEBI in the manner SEBI specifies, and is granted registration as a Category I AIF – Venture Capital Fund (Migrated Venture Capital Fund).
What the Master Circular adds
From SEBI's Master Circular for AIFs (updated 16 June 2026). The Regulation sets the rule; the Master Circular sets how it works in practice.
- MC Ch 24
Venture capital funds registered under the 1996 Regulations could migrate to the AIF Regulations as Migrated Venture Capital Funds. For VCFs whose schemes were still within their liquidation period, the facility was available till 19 July 2025. A scheme that had a definite tenure in its PPM keeps the same tenure after migration.
Where this sits
Regulation 19X is in Chapter III-D — Migrated Venture Capital 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).
Where it connects
The text of this regulation does not refer to other numbered regulations.
Chapter
Check yourself
1 practice question on Regulation 19X, each with an explanation for every option.
- Until when was the migration facility available for VCFs whose schemes were still within their liquidation period?
The regulation
19X. (1) An application for seeking registration as a migrated venture capital fund shall be made to the Board in the manner specified by Board.
(2) The certificate of registration as a Category I Alternative Investment Fund – Venture Capital Fund (Migrated Venture Capital Fund) shall be granted by the Board, if it is satisfied that the applicant fulfills all the requirements as specified in this Chapter under these regulations.
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 19X
- 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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