As per the notification no. G.S.R 180(E) dated February 17, 2016, Alternate Investment Funds, Venture
Capital Funds, Angel Fund and Seed Funds registered with SEBI will be eligible for providing
recommendation/ support/ endorsement letter to entities in which not less than 20 percent equity is taken up
by such funds.
A list of SEBI registered VCFs and AIFs has been published on Startup India portal