IRDAI allows insurers to invest in startups via fund of funds


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India’s insurance regulator has allowed insurers to invest in fund of funds that invest within the country, in a move that is expected to open up more capital options for India’s burgeoning startup ecosystem. However, insurers are barred from investing in fund of funds that invest in overseas companies or funds, IRDAI said in a circular modifying the guidelines for alternative funds or AIFs, dated April 5.