Rs. 1Lakh Core Deep Tech to 6x Capital: India’s Innovation Push
At a time when India’s capital landscape is being reshaped by shifting global dynamics and rising domestic conviction, TiE Delhi-NCR hosted the second edition of Capital Connect 2026 at the Leela Ambience, Gurugram.
With 300+ curated participants, including investors, policymakers, family offices, LPs, global funds, regulators, and HNIs, the forum brought together the key drivers of capital in India.
The discussions centred on capital allocation trends, deeptech opportunities, and the growing importance of domestic and sovereign capital in the innovation ecosystem.
Featuring a strong lineup of leaders at the forefront of India’s capital and innovation ecosystem, the second edition included Manoj Mittal (CMD, Small Industries Development Bank of India); Shivkumar Kalyanaraman (CEO, Anusandhan National Research Foundation); Sanjeev Aggarwal (Co-Founder, Fundamentum Partnership & Helion Ventures); Mohit Dhawan (President, Hero Enterprises); Sudhir Rao (Senior Partner, Celesta Capital); Vikram Gupta (Founder & Managing Partner, IvyCap Ventures); Sandeep Sinha (Co-CEO & Co-Founder, Oister Global); Jyoti Sharma (Department of Science & Technology, Government of India); Padmaja Ruparel (Co-Founder, Indian Angel Network), among others.
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Shri Manoj Mittal, CMD, SIDBI says, “We are witnessing the foundations of India’s next growth era being laid, where domestic capital is not just participating, but leading. With a 6x rise in domestic capital since 2016 and transformative instruments like Fund of Funds 2.0, the Rs.1 lakh crore RDI Fund, and targeted SME growth capital, the scale of ambition is unprecedented. Yet, to fully unlock this opportunity, the ecosystem must evolve in tandem. We need a significant expansion in AIFs, stronger and more capable incubators, and a robust talent pipeline to power the next wave of innovation. As AI, spacetech, deeptech, and defence emerge as defining sectors, this moment calls for coordinated action. This is more than momentum; it’s the beginning of India’s innovation-led growth decade.”
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Dr. Shivkumar Kalyanaraman- CEO, Anusandhan National Research Foundation (ANRF) says, “ANRF is being built as a catalyst for India’s rise as a Research and Innovation powerhouse, creating the field where deep science discoveries happen, deep tech ideas emerge and these can to be funded and scaled via an ecosystem of investors. As a statutory body of the Government of India, ANRF is not just a grant-making institution but an institutional innovation designed to aggregate academia, industry, and startups with autonomy and neutrality.”
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“The RDI Fund represents a significant step towards strengthening India’s deep technology ecosystem, with a proposed outlay of Rs.1 lakh crore. It is designed to support high-risk, high-impact projects and to help de-risk early-stage and deep-tech investments that often face constraints in accessing capital. By providing support of up to 50% of project costs, the Fund aims to crowd in private investment and accelerate the progression of technologies from research to deployment. Early traction has been encouraging, with multiple projects at advanced stages of consideration and a strong pipeline under review, ” says Dr. Jyoti Sharma, Head – RDI Cell, Department of Science & Technology, Gol.