RDI Fund names 19 managers for ₹7,131 crore approved commitments

India's Research, Development and Innovation Fund has approved ₹7,131 crore in commitments for its first cohort of 19 second-level fund managers: 14 alternative investment funds and five focused research organisations. The Ministry of Science and Technology announced the approval on 12 October, following the Empowered Group of Secretaries' 8 October meeting. Moneycontrol's 13 October report identifies the selected institutions, including Chiratae Ventures, Kalaari Capital, Blume Ventures and Speciale Invest. The other selected AIF managers are YourNest Capital Advisors, Sixth Sense Ventures, Celesta India AIF Managers, AdvantEdge Investment Managers, IvyCap Ventures Advisors, Ideaspring Capital Fund, TVS Capital Funds, AMA Capital Advisors, Translation Endeavors and Campus. The five research organisations are ARTPARK at IISc Bengaluru, C-CAMP, IIT Madras Research Park, PIEDS at BITS Pilani and SINE at IIT Bombay. The managers will channel capital to eligible technology enterprises carrying out R&D at Technology Readiness Level 4 and above, and are expected to mobilise private capital equivalent to the RDI contribution. This is financing infrastructure, not a company funding round: ₹7,131 crore is an approved commitment, not confirmed disbursements to startups. Individual manager allocations were not disclosed in the reports reviewed.

DTT summary based on PIB / Ministry of Science and Technology's report. The full article is on the publisher's site.