RDI Fund Names First Cohort of 19 Second-Level Fund Managers with Rs 7,131 Crore Committed
The Research, Development and Innovation Fund (RDIF) announced its first cohort of 19 Second Level Fund Managers — 14 Alternative Investment Funds and five Focused Research Organisations — with a combined commitment of Rs 7,131 crore. The Empowered Group of Secretaries approved them on 8 October, and the Ministry of Science and Technology announced the cohort on 12 October 2026. RDIF is managed by an Independent Business Unit inside the Anusandhan National Research Foundation under the Department of Science and Technology. Managers will fund enterprises doing R&D at Technology Readiness Level 4 and above, and must mobilise private capital matching the RDIF contribution.
The Anusandhan National Research Foundation was created by the ANRF Act, 2023, with the Prime Minister as ex-officio President of its Governing Board | Technology Readiness Levels form a nine-point NASA-origin scale from basic concept (TRL 1) to proven operation (TRL 9) | The Technology Development Board, under the TDB Act, 1995, is another DST body funding commercialisation