Raise money from investors
Corpus, minimum investment, continuing interest and the investor limit, with the defined terms they use.
2 provisions to work through, in order.
Provisions to work through
0 of 2 readNumbers that apply 10
| Number | What it is | Source |
|---|---|---|
| ₹20 crore | Minimum corpus of each scheme | Reg 10(b) |
| ₹5 crore | Minimum corpus — social impact fund scheme | Reg 10(b), proviso |
| ₹1 crore | Minimum investment per investor | Reg 10(c) |
| ₹25 lakh | Minimum investment — employees or directors of the AIF or the Manager | Reg 10(c), proviso |
| No minimum under Reg 10(c) | Minimum investment — accredited investors | Reg 10(c), second proviso |
| ₹1,000 (₹2 lakh before 18 April 2026) | Minimum by an individual in a social impact fund investing only in NPOs on a social stock exchange | Reg 10(c), third proviso |
| Lower of 2.5% of corpus or ₹5 crore | Continuing interest of Manager or Sponsor — Category I and II | Reg 10(d) |
| Lower of 5% of corpus or ₹10 crore | Continuing interest of Manager or Sponsor — Category III | Reg 10(d), proviso |
| 1,000 (accredited investors not counted) | Maximum investors in a scheme | Reg 10(f) |
| Each investor (other than insiders) an accredited investor investing at least ₹25 crore | Large value fund for accredited investors | Reg 2(1) |
in Detailed mode.
A decision aid, not legal advice. It points to the provisions of the SEBI (Alternative Investment Funds) Regulations, 2012 to read; it does not cover SEBI circulars or the Master Circular for AIFs, and does not replace a review of your facts.
Meet the expert
CS Prashant Kumar
Company Secretary & Compliance Officer
Global Horizons Capital Advisors (IFSC) Private Limited — an IFSCA-licensed investment banker
Published in The Chartered Accountant (Jun 2025, Jan 2025, Mar 2024) and Chartered Secretary (Aug 2023)
Prashant Kumar is a seasoned Company Secretary and corporate governance strategist with more than 13 years of experience advising large corporates, promoter-led groups and global businesses on compliance, regulatory risk and board governance. In GIFT IFSC, the IFSCA regime is his day job rather than a research topic.