India's ₹1tn RDI fund to appoint new 2nd-level managers
India's massive Research, Development and Innovation (RDI) fund, worth ₹1 trillion, is about to get a fresh batch of second-level fund managers.
These will be chosen from venture capital firms and other alternate investment funds (AIFs) with a past history of investing in growing companies.
Jyoti Sharma, who leads the RDI Cell, says an empowered group of secretaries and an exclusive committee will take the final decision on a merit-based basis.
RDI disbursed ₹833.89cr, space picks questioned
Launched by the government in January 2025 and notified by prime minister Narendra Modi on 3 November, the RDI fund has already given out ₹833.89 crore to space startups.
Some have questioned how recipients were picked, raising concerns about conflicts of interest.
Sharma stands by the process, stressing that strict rules are in place and that future funding will be open to all sectors, not just space, based on merit.