Key Takeaways
- • The government has approved Rs 7,131 crore in funding commitments for 19 fund managers in the first cohort of the Rs 1 lakh crore Research, Development and Innovation Fund (RDIF), according to India Today.
- • The cohort comprises 14 Alternative Investment Funds (AIFs) and five Focused Research Organisations (FROs).
- • The 14 approved AIFs include Speciale Invest Growth Fund, YourNest Capital Advisors, Sixth Sense Ventures, Chiratae Ventures, Kalaari Capital Partners India, Blume Ventures, TVS Capital Funds and AMA Capital Advisors, among others.
- • Approved fund managers must channel RDI funding to eligible technology enterprises and mobilise private capital equal to their RDI contributions.
- • The scheme is managed by an Independent Business Unit under the Anusandhan National Research Foundation (ANRF), which operates under the Department of Science and Technology (DST).
Summary
The government has approved funding commitments worth Rs 7,131 crore for 19 fund managers under the first cohort of the Rs 1 lakh crore Research, Development and Innovation Fund (RDIF), according to India Today. The cohort includes 14 Alternative Investment Funds (AIFs) and five Focused Research Organisations (FROs), which are expected to support research, development and innovation across India.
The 14 approved AIFs are Speciale Invest Growth Fund, YourNest Capital Advisors, Sixth Sense Ventures, Chiratae Ventures, Kalaari Capital Partners India, Celesta India AIF Managers, AdvantEdge Investment Managers, IvyCap Ventures Advisors, Ideaspring Capital Fund, Blume Ventures Investment Manager, TVS Capital Funds, AMA Capital Advisors, Translation Endeavors and Campus. The five FROs include organisations associated with IISc Bengaluru, IIT Madras, IIT Bombay and BITS Pilani, among others.
The RDI Scheme was launched by Prime Minister Narendra Modi in November 2025 to provide long-term funding for high-risk, high-impact research and emerging technologies, aiming to bridge funding gaps in private sector research. Under the scheme, the 19 approved fund managers will channel RDI funding to eligible technology enterprises and are expected to mobilise private capital equivalent to their RDI contributions. The scheme is managed by an Independent Business Unit under the Anusandhan National Research Foundation (ANRF), which functions under the Department of Science and Technology (DST).
The first application round for fund managers opened in January 2026. Proposals went through a multi-stage evaluation before being considered by the ANRF Executive Council and the Empowered Group of Secretaries (EGoS), which granted approval.
The 14 approved AIFs are Speciale Invest Growth Fund, YourNest Capital Advisors, Sixth Sense Ventures, Chiratae Ventures, Kalaari Capital Partners India, Celesta India AIF Managers, AdvantEdge Investment Managers, IvyCap Ventures Advisors, Ideaspring Capital Fund, Blume Ventures Investment Manager, TVS Capital Funds, AMA Capital Advisors, Translation Endeavors and Campus. The five FROs include organisations associated with IISc Bengaluru, IIT Madras, IIT Bombay and BITS Pilani, among others.
The RDI Scheme was launched by Prime Minister Narendra Modi in November 2025 to provide long-term funding for high-risk, high-impact research and emerging technologies, aiming to bridge funding gaps in private sector research. Under the scheme, the 19 approved fund managers will channel RDI funding to eligible technology enterprises and are expected to mobilise private capital equivalent to their RDI contributions. The scheme is managed by an Independent Business Unit under the Anusandhan National Research Foundation (ANRF), which functions under the Department of Science and Technology (DST).
The first application round for fund managers opened in January 2026. Proposals went through a multi-stage evaluation before being considered by the ANRF Executive Council and the Empowered Group of Secretaries (EGoS), which granted approval.
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