RDI Fund Announces First Cohort Of 19 Fund Managers, Eyes Deploying ₹7,131 Cr To Strengthen Deeptech Startups

What happened

Central government-backed ₹1 Lakh Cr Research, Development and Innovation (RDI) Fund has approved 19 second-level fund managers (SLFMs) with a total commitment of ₹7,131 Cr. The Ministry of Science and Technology’s Empowered Group of Secretaries (EGoS) approved 14 alternative investment funds (AIFs) and five focused research organisations (FROs) for this purpose earlier this month, the ministry announced.

The selected entities will channel capital from the RDI Fund to eligible technology enterprises undertaking research, development and innovation activities at Technology Readiness Level (TRL) 4 and above. The fund managers are also expected to mobilise private capital equivalent to the RDI Fund’s contribution, potentially expanding the pool of financing available to research-driven businesses.

Alongside approving the first cohort of fund managers, the EGoS approved five additional technologies for coverage under the RDI Fund. The government did not specify these technologies in its announcement.