Sebi raises overseas investment limit of AIFs, VCFs to $750 million

Markets regulator Sebi on Tuesday enhanced the overseas investment limit of alternative investment funds and venture capital funds to USD 750 million from the current USD 500 million. The decision has been taken in consultation with the Reserve Bank of India, the Securities and Exchange Board of India (Sebi) said in a circular. In order to monitor the utilisation of overseas investment limits, Sebi has asked AIFs and VCFs to mandatorily disclose the utilisation of the such limits within 5 working days of such usage on the regulator's intermediary portal. In case an alternative investment fund (AIF) or venture capital fund (VCF) has not utilised the overseas limit granted them within 6 months from Sebi's approval, the same will have to be reported within 2 working days after expiry of the validity period.