SEBI has issued guidelines for overseas investment by Alternative Investment Funds (AIFs) /Venture Capital Funds (VCFs) vide its circular No. SEBI/HO/AFD-1/PoD/CIR/P/2022/108 dated August 17, 2022. In reference to above

As per the asked circular, AIFs/VCFs shall not invest in an overseas investee company, which is incorporated in a country identified in the public statement of Financial Action Task Force (FATF) as: a jurisdiction having a strategic Anti-Money Laundering or Combating the Financing of Terrorism deficiencies to which counter measures apply; or a jurisdiction that has not made sufficient progress in addressing the deficiencies or has not committed to an action plan developed with FATF to address the deficiencies.