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Wednesday, 28 October 2026

Question of the day: NISM Series XIX-A

Chapter 2 · Alternative Investment Funds in IndiaHard

Under SEBI's revised framework of September 2025, angel funds may raise money from:

  • AAny retail investor
  • BAccredited investors only
  • COnly foreign investors
  • DOnly banks and insurers
The revised angel fund framework restricts investment in angel funds to accredited investors.
The concept: Categories and sub-categories

Exam trap: Private equity and debt AIFs are Category II, not Category I. Hedge funds are Category III.

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