(MENAFN- KNN India)
Mumbai, Jan 30 (KNN) The Maharashtra Defence and Aerospace Venture Fund (MDAVF), managed by IDBI Capital Markets & Securities (ICMS), has deployed Rs 480 crore across 27 MSMEs, according to a statement released by ICMS on Wednesday.
The SEBI-registered fund, which focuses on strategic sectors including missile systems, aerospace technologies, naval systems, and electronic warfare, has invested Rs 406 crore in 22 MSMEs and successfully executed full and partial exits from 12 companies, generating divestment proceeds of approximately Rs 281 crore since its registration as an alternative investment fund in September 2018.
The investment initiative has generated significant employment opportunities in Maharashtra, creating over 3,000 direct jobs and an estimated 10,000-15,000 indirect positions.
A notable aspect of the fund's portfolio is that nearly half of its supported companies - 13 out of 27 - are led by women promoters and entrepreneurs, highlighting its commitment to diverse leadership in the defence sector.
Aligning with the government's 'Make in India' initiative, the fund has prioritized investments in indigenous defence production capabilities.
ICMS reports that sectors such as nuclear solutions, UAV automation, marine technologies, and aerospace advancements have shown considerable progress.
The fund management expressed optimism about leveraging emerging opportunities in advanced technologies and manufacturing to create a sustainable platform for growth and innovation.
Amey Belorkar, Fund Manager, MDAVF, emphasised the fund's dedication to supporting India's vision of self-reliance in defence and aerospace through strategic investments in high-potential ventures.
He highlighted the fund's role in fostering technological breakthroughs that strengthen national security while enhancing indigenous capabilities, contributing to the broader vision of Atmanirbhar Bharat.
The fund's focus on MSMEs complements the government's Technology Development Fund (TDF) scheme, which provides financial support to small businesses, academic institutions, and scientific organizations for developing defence and dual-use technologies.
The scheme's impact is evidenced by its support of 16 MSMEs and 20 start-ups since January 2022, as reported by Minister of State in the Defence Ministry Sanjay Seth to Parliament in November 2023.
(KNN Bureau)
MENAFN30012025000155011030ID1109147495
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.