Maharashtra Defence and Aerospace Venture Fund invests Rs 406 Cr in 22 MSMEs
The fund invests in sectors such as nuclear solutions, UAV automation, marine technologies, among others and is managed by IDBI Capital Markets & Securities.
Maharashtra Defence and Aerospace Venture Fund (MDAVF) on Wednesday said it has invested about Rs 406 crore across 22 micro, small and medium enterprises (MSMEs).
The fund, which is managed by IDBI Capital Markets & Securities, invests in startups domiciled in Maharashtra and across sectors such as aerospace advancements, marine technologies, and nuclear solutions, among others.
Additionally, the fund has committed Rs 480 crore across 27 MSMEs that focus on missile systems, naval systems, and electronic warfare.
“MDAVF is committed to supporting India's vision of self-reliance in defence and aerospace by channelising strategic investments into high-potential ventures. We are dedicated to fostering technological breakthroughs that not only strengthen national security but also enhance indigenous capabilities. By backing innovative and sustainable growth in critical sectors, MDAVF is proud to contribute to India's defence ecosystem and the vision of Atmanirbhar Bharat,” said Amey Belorkar, Fund Manager at MDAVF, IDBI Capital Markets & Securities.
The fund aims to create an ecosystem for defence and aerospace within Maharashtra and has led to the creation of over 3,000 direct jobs and around 10,000 to 15,000 indirect jobs across the state.
MDAVF’s investments into these sectors aligns with the government’s ‘Make in India’ initiative, which encourages the development of indigenous capabilities in defence production.
Since inception, the fund has successfully executed full and partial exits from 12 companies, including Aman Aviation & Aerospace Solutions and defence electronics and control system startup Dynalog India. It has realised divestment proceeds of around ₹281 crore and achieved a strong internal rate of return.
Edited by Megha Reddy