RDI Fund Approves 19 Fund Managers for Deeptech Investments

India's government-backed Research, Development and Innovation (RDI) Fund has approved its first cohort of 19 fund managers, who will deploy a total of ₹7,131 crore (approximately $85 billion USD). These funds are designated to be channeled into technology enterprises engaged in research and development.

The 14 Alternative Investment Funds (AIFs) and five Focused Research Organisations (FROs) approved by the Ministry of Science and Technology will channel capital to companies operating at Technology Readiness Level (TRL) 4 and above. The fund managers are also expected to mobilize equivalent private capital, thus expanding financing options for research-intensive businesses.

The government also approved five new technology areas for coverage under the RDI Fund. The fund aims to support high-risk, high-impact technology developers that often face funding challenges. Launched in November 2025, the RDI Fund has a total outlay of ₹1 lakh crore (approximately $1.2 trillion USD).

Previous reports have highlighted concerns about potential conflicts of interest, with a significant portion of funds directed to companies linked to members of the selection panel. While 52% of investors deem conflict-of-interest management adequate, transparency into the process remains limited. Funding for deeptech startups in India saw a substantial increase in Q3 2026, indicating the sector's growth potential.