The Indian government has revised its policy to allow venture capital, private equity, infrastructure, and pension funds to participate in highway projects under the Public-Private Partnership (PPP) model. This marks a significant policy shift since the sector was opened to private participation in the early 2000s. Previously, only highway developers and construction firms could bid for these projects. The road transport ministry's updated bidding norms for Build-Operate-Transfer (BOT) toll projects are designed to attract larger private investments. Alternative Investment Funds (AIFs) and Foreign Investment Funds (FIFs) are expected to leverage their long-term capital to enhance project execution and yield better returns. The revised bidding document allows various entities, including AIFs and FIFs, to form consortiums for bidding. While traditional highway developers will still be assessed on technical expertise and financial strength, AIFs and FIFs will be evaluated solely on their financial capacity, with a threshold set at twice the prescribed level. This change aims to ensure that concessionaires can effectively manage highway assets, similar to how a film producer arranges funding and talent for a successful project.