Regulation of Alternative Investment Funds in India
The SEBI (Alternative Investment Funds) Regulations, 2012 and the amendments and circulars that have changed them. Every claim names the instrument and its date, and each page records when it was last checked against source.
- Accredited Investors Only AIFs — SEBI's third amendment of 18 November 2025
SEBI created a fund class in which every investor is accredited, cut the large value fund threshold from ₹70 crore to ₹25 crore, and granted six relaxations. What changed and what it means.
Checked against source on 25 August 2026
- AIF distributor commission — how distributors are paid, and what changed on 1 May 2023
Category III AIFs pay all-trail with no upfront, out of the management fee. Categories I and II may pay up to one-third upfront. Direct plans are mandatory. What the rules say and what they mean for a distributor's economics.
Checked against source on 24 August 2026
- AIF registration with SEBI — the process, the fees and what the certificate means
An AIF applies in Form A with a ₹1,00,000 application fee, then pays a registration fee on approval: ₹5 lakh for Category I, ₹10 lakh for Category II, ₹15 lakh for Category III, ₹2 lakh for angel funds. A fund must register before it raises money.
Checked against source on 24 August 2026
- SEBI AIF Regulations — the rules governing Alternative Investment Funds in India
A structured guide to the SEBI (Alternative Investment Funds) Regulations, 2012 and the amendments that matter, including the third amendment of 18 November 2025.
Checked against source on 24 August 2026
- SEBI's GARUDA mechanism — AIF schemes can now launch ten working days after filing
SEBI's circular of 30 July 2026 replaces comment-based clearance of an AIF placement memorandum with a merchant-banker due diligence certificate and a ten-working-day clock. Accredited-investor-only funds, large value funds and angel funds launch on filing. What changed, clause by clause.
Checked against source on 24 August 2026