Govt commits Rs 7,131 cr to 19 fund managers under RDI scheme

BENGALURU: Govt has committed Rs 7,131 crore to the first group of 19 fund managers selected under its Rs 1 lakh crore Research, Development and Innovation (RDI) scheme. The group comprises 14 alternative investment funds and five focused research organisations that will channel capital to eligible technology companies.Blume Ventures, Chiratae Ventures, Kalaari Capital, Speciale Invest, YourNest Capital, IvyCap Ventures, Ideaspring Capital and TVS Capital Funds are among the selected managers. The list also includes Sixth Sense Ventures, Celesta India AIF Managers, AdvantEdge Investment Managers, AMA Capital Advisors, Translation Endeavors and Campus.The five research organisations are AI & Robotics Technology Park (ARTPARK) at IISc Bengaluru; Centre for Cellular and Molecular Platforms (C-CAMP) in Bengaluru; IIT Madras Research Park; Pilani Innovation & Entrepreneurship Development Society at BITS Pilani; and Society for Innovation & Entrepreneurship at IIT Bombay.The Empowered Group of Secretaries approved the first group at its October 8 meeting, according to a govt release dated October 12. The selected managers are expected to raise private capital equivalent to the RDI fund’s contribution. Individual allocations were not disclosed in the published list.The fund is managed by an independent business unit within Anusandhan National Research Foundation, under Department of Science and Technology. Applications for the first group opened in January 2026. Selection involved an assessment of proposals and interactions with an expert advisory committee.Launched in November 2025, the scheme aims to provide long-term capital for research and development involving high risks. Its priority areas include artificial intelligence, robotics, quantum technologies, space, biotechnology, healthcare and energy transition.Govt said it would continue inviting applications and selecting additional groups of fund managers in the near future.You use AI every day. Now get your AI Quotient. Take the AIQ test.