100+ Indian VCs queue up for govt’s RDI fund

More than 100 Indian venture capital firms, including Mela Ventures, Ideaspring Capital and Blume Ventures, have applied for the government’s Research, Development and Innovation (RDI) fund. Successful applicants can use the government allocation to invest in deep-tech startups. Other VCs that have applied for the scheme include 3one4 Capital, Chiratae Ventures, Wyser and Waterbridge Ventures.The RDI fund, with an outlay of INR 1 lakh crore, will function as a fund of funds to catalyse private investments in deeptech and R&D-focused startups over a period of six years, in addition to loan financing to startups.