Lured by hopes of multi-bagger returns, many moneyed Indians are treading a regulatory twilight zone to bet on foreign startups.
They are investing in ‘SAFEs’, which are hybrid notes standing for 'simple agreement for future equity’, sold by overseas firms trying to raise money.
The SAFE market, which had virtually died in India after the RBI slapped new dos and don’ts on overseas investments (OI) in mid-2022, is making a comeback despite the regulatory curbs.
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