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Can angel investors (from India) invest in an Indian LLP?

Open uri20170510 32134 ughyv5?1494421703 asked

Can angel investors (from India) invest in an Indian LLP?

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Open uri20170510 32134 1c996lj?1494421732 answered

I plan to form a parent company as an LLP before I/it launches a web/mobile based service. I have read that an Indian LLP cannot raise funds from the public. Despite that, on Quora I have read that venture funds can invest in an Indian LLP (under certain conditions.) Is it possible for angel investors or qualified investors (from India) to invest in an Indian LLP after the LLP has been registered? My plan is to build a public prototype of the service (the service is to solve a pain point in the dining experience.) The prototype's funding is to be from an LLP of family members who are willing to seed fund the service (I have yet to make pitches for funding to non family) until the service gains the attention of angel/qualified/professional investors

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