Sebi asks for firm commitment from foreign venture capital investors

SEBI vide its Circular IMD/DOF-1/FVCI/CIR. No. 1/2009 dated July 3, 2009 has made it mandatory for foreign venture capital investors (FCVI) to obtain a firm commitment from their investors for contribution of at least $1 million (about Rs 5 crore) for registration with the market regulator.

With the change in the legal framework of SEBI (Foreign Venture Capital Investors) Regulations, 2000, the regulator has now brought about parity between FVCIs and domestic venture capital funds (VCF). 

A copy of the Circular is available here.