# Venture financing in > Source: https://legalcode.md/skills/legalcode-venture-financing-in | [HTML version](https://legalcode.md/skills/legalcode-venture-financing-in) India venture financing skill covering the full lifecycle from pre-seed to IPO exit. India venture financing skill covering the full lifecycle from pre-seed to IPO exit. Deep analysis of India-specific instruments and regulatory frameworks: iSAFE (structured as CCPS under Companies Act 2013), Compulsorily Convertible Preference Shares (CCPS), Compulsorily Convertible Debentures (CCD), and priced equity rounds. Covers FEMA/NDI Rules 2019 pricing and reporting (Form FC-GPR, Form FC-TRS), SEBI Alternative Investment Fund (AIF) Category I angel fund regulations (including September 2025 restructuring), angel tax abolition (Finance Act 2024, effective FY 2025-26), Section 80-IAC startup tax holiday (3-year profit exemption), DPIIT recognition requirements and benefits, RBI External Commercial Borrowing (ECB) automatic route for startups, and SEBI ICDR IPO eligibility. Covers standard India term sheet terms: 1x non-participating liquidation preference, broad-based weighted average (BWAA) anti-dilution, ROFR/ROFO/co-sale/drag-along mechanics, founder vesting norms, ESOP pool sizing, board composition, and exit waterfall analysis. Use when a founder, investor, counsel, or finance professional needs to: structure a venture financing round under Indian law; analyze iSAFE vs. CCPS vs. CCD instrument selection; review FEMA compliance for foreign investor participation; assess DPIIT recognition strategy; evaluate Section 80-IAC or SEBI AIF eligibility; analyze a term sheet for an Indian startup; plan an IPO, secondary transaction, or reverse flip exit; or draft FC-GPR/FC-TRS filing strategy. Also triggers on: India SAFE note, iSAFE 100X.VC, CCPS conversion mechanics, FEMA FDI pricing, NDI Rules Rule 21, Form FC-GPR 30-day deadline, FIRMS portal, angel tax abolished, Section 56(2)(viib) repeal, 80-IAC IMSC committee, DPIIT startup recognition, SEBI AIF Category I, angel fund corpus, RBI ECB automatic route startups, SEBI ICDR eligibility, IPO lock-up India, reverse flip fast-track. This skill analyses India venture financing decisions end-to-end — from instrument selection at pre-seed through to exit via IPO, strategic sale, or secondary transaction. It incorporates India's unique regulatory framework: FEMA constraints on foreign investment, DPIIT recognition as a gateway to tax benefits, and the distinctive iSAFE/CCPS/CCD instrument landscape. **Covers:** - Instrument selection: iSAFE vs. CCPS vs. CCD vs. priced equity round, with India-specific regulatory analysis - iSAFE deep dive: legal structure as CCPS, 100X.VC standard terms, conversion mechanics, FEMA treatment, tax treatment under Section 47 - CCPS analysis: mandatory conversion triggers, liquidation preference tiers, anti-dilution (BWAA formula), voting rights, dividend rights, redemption - CCD analysis: debt vs. equity classification, FEMA capital instrument treatment, pre-conversion interest deductibility, conversion mechanics - FEMA/NDI Rules pricing: Rule 21 fair market value certification, 90-day freshness rule, Form FC-GPR (30-day filing deadline), Form FC-TRS, FIRMS portal, AD bank role - SEBI AIF Category I angel funds: corpus requirements, accredited investor criteria, per-company investment limits, September 2025 restructuring, quarterly NAV reporting - Angel tax abolition: Finance Act 2024 repeal of Section 56(2)(viib), effective FY 2025-26, practical implications for resident and foreign investors - Section 80-IAC tax holiday: 3-year profit exemption, eligibility criteria, DPIIT recognition prerequisite, extended ... ## Jurisdictions India --- *Legalcode -- legalcode.md*