 "IPOs, funding")
The Securities and Exchange Board of India’s (Sebi’s) diktat for benchmarking the performance of alternative investment funds (AIFs) may necessitate the creation of sub-categories.
Sebi has classified AIFs into three categories, with four sub-categories for ‘Category I AIFs’ that include venture capital funds (including angel funds), SME funds, social venture funds, and infrastructure funds. There are no sub-categories for category-II and category-III AIFs.
“For data to be dissected meaningfully, sub-categorisation is required,” said a senior industry executive.
All category-III schemes, for instance, are not comparable and cannot be put under one basket as they include debt, equity, and hybrid schemes
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