"Angel investor" means any person who proposes to invest in an angel fund and satisfies one of the following conditions, namely,
- Net tangible assets of at least INR 2 cr excluding value of his principal residence, and who:
- has early stage investment experience, or
- has experience as a serial entrepreneur, or
- is a senior management professional with at least ten years of experience
- A body corporate with a net worth of at least INR 10 cr, or
- An AIF/ VCF registered under these regulations.
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