Key Takeaways
- • The Research, Development and Innovation (RDI) Fund, a ₹1 lakh crore Government of India initiative, has announced its first cohort of 19 second-level fund managers (SLFMs).
- • The fund has committed ₹7,131 crore to the selected second-level managers, according to the publisher's coverage of the announcement.
- • The RDI Fund does not invest directly in companies; it channels capital through second-level fund managers, including Alternative Investment Funds (AIFs), to deploy into private sector companies and startups.
- • The announcement marks the fund's move into implementation mode, roughly six months after its launch.
Summary
The Research, Development and Innovation (RDI) Fund has named its first 19 second-level fund managers and committed ₹7,131 crore to them, according to the Business Standard headline and the fund's own publisher materials. The RDI Fund is a ₹1 lakh crore Government of India scheme, formally launched by the Prime Minister, aimed at financing research, development and innovation across the private sector.
The fund operates through a two-tier structure. Rather than investing directly in industries or startups, the RDI Fund allocates capital to second-level fund managers, who can include Alternative Investment Funds, which then deploy that capital into private sector companies and deep-tech startups. The publisher's materials describe the move as the fund entering implementation mode, with the identification of second-level managers as the next step.
The Research, Development and Innovation Fund is administered alongside the Anusandhan National Research Foundation (ANRF). ANRF CEO Shivkumar Kalyanaraman had earlier said the fund would soon reveal its initial cohort of fund managers and that it seeks to attract private capital. Union Minister Dr Jitendra Singh has also described the government's appointment of second-level managers under the scheme.
The full article could not be retrieved, so the names of the 19 managers, their individual allocations and the specific sectors covered were not available in the source material reviewed. Further detail should be confirmed against the RDI Fund's official announcements.
The fund operates through a two-tier structure. Rather than investing directly in industries or startups, the RDI Fund allocates capital to second-level fund managers, who can include Alternative Investment Funds, which then deploy that capital into private sector companies and deep-tech startups. The publisher's materials describe the move as the fund entering implementation mode, with the identification of second-level managers as the next step.
The Research, Development and Innovation Fund is administered alongside the Anusandhan National Research Foundation (ANRF). ANRF CEO Shivkumar Kalyanaraman had earlier said the fund would soon reveal its initial cohort of fund managers and that it seeks to attract private capital. Union Minister Dr Jitendra Singh has also described the government's appointment of second-level managers under the scheme.
The full article could not be retrieved, so the names of the 19 managers, their individual allocations and the specific sectors covered were not available in the source material reviewed. Further detail should be confirmed against the RDI Fund's official announcements.
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