India, Oct. 14 -- Original | Oct 14, 02:37 IST

The government has selected Blume Ventures, Speciale Invest, Chiratae Ventures and 16 others as second-level fund managers (SLFM) for deploying Rs.7,131 Cr from the Rs.1 Lakh Cr research, development and innovation (RDI) fund.

This is the first cohort of the SLFM under the fund. Overall, the empowered group of secretaries (EGoS) under the science ministry has approved 14 alternative investment funds (AIFs) and five focused research organisations (FROs) for this purpose earlier this month.

The other selected AIFs also include YourNest Capital Advisors, Sixth Sense Ventures, Celesta India, AdvantEdge Investment Managers, IvyCap Ventures, Ideaspring Capital Fund, TVS Capital Funds, AMA Capita...