Venture Capital Undertaking :
“venture capital undertaking” means a domestic company:
(i) which is not listed on a recognised stock exchange in India at the time of making investment; and
(ii) which is engaged in the business for providing services, production or manufacture of article or things and does not include following activities or sectors:
(1) non-banking financial companies;
(2) gold financing;
(3) activities not permitted under industrial policy of Government of India;
(4) any other activity which may be specified by SEBI in consultation with Government of India from time to time.