₹1 Lakh Crore RDIF Selects 19 Second Level Fund Managers with ₹7,131 Crore Commitment in First Cohort

Key facts

• The Research, Development and Innovation Fund (RDIF), a ₹1 lakh crore Government of India initiative, announced its first cohort of 19 Second Level Fund Managers (SLFMs).
• The Empowered Group of Secretaries (EGoS), in its meeting on October 08, 2026, approved 14 Alternative Investment Funds (AIFs) and 5 Focused Research Organisations (FROs) with a total RDIF commitment of ₹7,131 crore.
• The ₹1 lakh crore Research, Development and Innovation (RDI) Scheme was launched by Prime Minister Narendra Modi in November 2025, and the first call for SLFM applications was launched in January 2026.
• The RDIF is 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.
• The approved SLFMs will channel RDIF capital to Eligible Technology Enterprises (ETEs) undertaking research, development and innovation activities at Technology Readiness Level (TRL) 4 and above, and are expected to mobilise private capital equivalent to the RDIF contribution.
• EGoS also approved five additional technologies for coverage under the RDI Fund, and the RDIF will invite applications for additional cohorts of SLFMs in the future.