According to Indie Fund's announcement, Dear Esther's environments will be re-envisioned by Robert Briscoe, formerly an environment artist for 2009's Mirror's Edge, and will likewise undergo enhancements to its voice-acting and musical score.
Indie Fund claims to have selected Dear Esther because
...it is a unique expression from a video game artist we look forward to seeing more work from in the future...[it]stands out in that it is a mod-turned-indie-game, something that would have been unlikely to get traditional publisher funding, even if it were a more standard gaming experience.
For more information about Dear Esther, check out BeefJack.com's Dear Esther Blowout, which includes a summary of the game's developmental history, and an interview with its creator.
Indie Fund backing Dear Esther [Indie Fund]