Sebi has a comprehensive framework in the form of Alternative Investment Funds (AIFs) Regulations to bring PEs and VCs, under its ambit of inspection and investigation, and said all these funds have to register with the regulator now. At present, PE and VC funds have the option not to register with Sebi. However, considerable confusion existed about the rules of AIFs, since Sebi did not specifically say if these rules applied only to India domiciled funds or also those based outside India.
Vserv Digital Services, a mobile marketing platform that delivers data led results to marketers, has raised $15 Mn (c.R90 Cr) in a round led by the VC unit of U.S. hedge fund Maverick Capital. The investment round saw the participation from existing investor, IDG Ventures.