The government has selected 19 fund managers for its Rs 1 lakh crore Research, Development and Innovation (RDI) scheme, committing Rs 7,131 crore to the first cohort as it looks to channel long-term capital into deeptech startups and private sector research and development.
Sources told ET that more than 160 venture capital firms had applied to access the government-backed capital pool. Out of the 19 selected 14 are Alternative Investment Fund (AIFs) and five are Focused Research Organisations (FROs).
