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Zarine Wadia

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Principal Associate Designate in the Investment Funds Practice at  Mumbai office of Cyril Amarchand Mangaldas. She has experience in advising domestic fund managers on the structuring, formation, compliances, documentation for setting up of privately pooled alternative investment funds in India and also advised and undertaken documentation for procuring overseas direct investment approvals for domestic fund managers. Additionally, she has advised major global private equity fund houses and government backed institutions on fund formation and management, as well as their investment into domestic funds. She can be reached at zarine.wadia@cyrilshroff.com

SEBI Updates Framework for Overseas Investments by Alternative Investment Funds and Venture Capital Funds

The Securities and Exchange Board of India (“SEBI”) has updated the regulatory framework applicable to AIFs/ VCFs, seeking to make portfolio investments in offshore companies vide SEBI Circular dated August 17, 2022, titled ‘Guidelines for overseas investment by Alternative Investment Funds (AIFs)/ Venture Capital Funds (VCFs)’ (“SEBI Circular”). AIFs/ VCFs are currently permitted to make portfolio investments in equity and equity linked instruments of offshore venture capital undertakings[1], subject to taking case by case approval of SEBI for each such investment. Such approval is granted by SEBI to AIFs/ VCFs on a ‘first come first serve basis’, within an overall limit of USD 1,500 million.Continue Reading SEBI Updates Framework for Overseas Investments by Alternative Investment Funds and Venture Capital Funds