BIRAC, TDB to Manage Key Tranches of ₹1 Trillion RDI Fund

The Indian government plans to appoint BIRAC and TDB as second-level fund managers for the ₹1-trillion RDI fund, enabling long-term low-cost capital flow to biotech and deeptech startups. They will set up investment committees to further pump money into startups. The government will allocate ₹2,000 crore each to BIRAC and TDB from the overall ₹20,000 crore this financial year. The formal confirmation is expected within a week.