Solution

An Angel fund” is a sub-category of Venture Capital Fund under AIF - Category I that raises funds from angel investors. An Angel investor is any person who proposes to invest in an angel fund isan individual investor who has net tangible assets of at least two crore rupees excluding value of his principal residenceor has early stage investment experience, or has experience as a serial entrepreneur oris a senior management professional with at least ten years of experience. In case of an angel fund, maximum forty-nine angel investors are allowed. Conceptual discussions in live classes on AIFs concepts covering this topic