The Research, Development and Innovation (RDI) Fund has announced the selection of its inaugural group of 19 second-level fund managers (SLFMs), comprising 14 alternative investment funds (AIFs) and five focused research organizations (FROs), with a total commitment of ₹7,131 crore. This initiative aims to mobilize private capital that matches the RDI Fund’s contributions. The initial call for SLFM applications was launched in January 2026, and submissions underwent a thorough multi-stage evaluation process. The proposals were reviewed by the executive council of the Anusandhan National Research Foundation (ANRF) and the Empowered Group of Secretaries (EGoS) prior to final approval.
Additionally, the EGoS has given the green light to five new technologies to be included under the RDI Fund. Launched by Prime Minister Narendra Modi in November 2025, the ₹1 trillion RDI Fund addresses a significant financing gap by providing long-term, patient capital for high-risk, high-impact research and development projects.
The RDI Fund is managed by an independent business unit within the ANRF, which is part of the Department of Science and Technology under the Ministry of Science and Technology. Plans are in place for the fund to accept more applications and incorporate additional cohorts of SLFMs in the near future, enhancing public-private partnerships and broadening the fund’s reach.
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