The Research, Development and Innovation Fund (RDIF), a flagship initiative of the Government of India, has announced the selection of the first cohort of 19 second level fund managers (SLFMs).
“The Empowered Group of Secretaries (EGoS) in its meeting held on October 08, 2026 has approved 14 Alternative Investment Funds (AIFs) and 5 Focused Research Organisations (FROs), with a total RDIF commitment of ₹7,131 crore,” the government said in a statement.
The names of the SLFMs were not disclosed.
The ₹1 lakh crore Research, Development and Innovation (RDI) Scheme was launched by Prime Minister Narendra Modi in November 2025.
The RDIF is being managed by an Independent Business Unit housed within the Anusandhan National Research Foundation (ANRF), under the Department of Science and Technology (DST), Ministry of Science and Technology, Government of India.
The 19 institutions approved under the first cohort will play a pivotal role in channelling RDIF capital to Eligible Technology Enterprises (ETEs) undertaking research, development and innovation activities at Technology Readiness Level (TRL) 4 and above.
The SLFMs are expected to mobilise private capital equivalent to the RDIF contribution.
Published on October 12, 2026
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