Research, Development and Innovation Fund Announces First Cohort of 19 Second Level Fund Managers

The Research, Development and Innovation Fund (RDIF), a flagship Government of India initiative under a ₹1 lakh crore scheme launched in November 2025, has announced its first cohort of 19 Second Level Fund Managers (SLFMs). Approved by the Empowered Group of Secretaries, the cohort consists of 14 Alternative Investment Funds and 5 Focused Research Organisations, backed by an RDIF commitment of ₹7,131 crore. Managed by an Independent Business Unit within the Anusandhan National Research Foundation (ANRF), the fund aims to provide long-term patient capital for high-risk, high-impact research and development by Eligible Technology Enterprises at Technology Readiness Level 4 and above.