RDI Fund approved 19 second-level fund managers with ₹7,131 Cr commitment
India’s central government-backed Research, Development and Innovation (RDI) Fund approved 19 second-level fund managers with a total commitment of ₹7,131 Cr, including 14 alternative investment funds and five focused research organisations, according to a Ministry of Science and Technology announcement reported by Inc42. These entities are intended to channel RDI Fund capital to eligible technology enterprises undertaking R&D&I activities at Technology Readiness Level (TRL) 4 and above; five additional technologies were also approved for coverage, but not specified.
Approving fund managers is a concrete step that enables RDI Fund capital to begin flowing to deeptech and research-driven companies and could help mobilise additional private capital alongside public funding.