MDAVF Boosts Self-Reliance in Defence with INR 406 Cr Investment Across 22 MSMEs MDAVF has also committed INR 480 crore to 27 MSMEs specialising in missile systems, naval systems, and electronic warfare, further strengthening India's self-reliance in defence and aerospace technologies.
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The Maharashtra Defence and Aerospace Venture Fund (MDAVF) has announced a significant investment of approximately INR 406 crore across 22 micro, small, and medium enterprises (MSMEs) in critical sectors like aerospace, marine technologies, and nuclear solutions.
Managed by IDBI Capital Markets & Securities, the fund focuses on supporting startups based in Maharashtra, with an emphasis on advancing defence and aerospace innovations.
MDAVF has also committed INR 480 crore to 27 MSMEs specialising in missile systems, naval systems, and electronic warfare, further strengthening India's self-reliance in defence and aerospace technologies.
"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," stated Amey Belorkar, Fund Manager at MDAVF, IDBI Capital Markets & Securities.
The fund aims to create a thriving ecosystem for defence and aerospace within Maharashtra, generating over 3,000 direct jobs and an estimated 10,000 to 15,000 indirect jobs across the state. This move is in line with the government's 'Make in India' initiative, encouraging local defence production.
Since its inception, MDAVF has successfully executed exits from 12 companies, including Aman Aviation & Aerospace Solutions and Dynalog India, a defence electronics startup.
With divestment proceeds of around INR 281 crore, the fund has achieved a strong internal rate of return, further contributing to the growth of India's defence and aerospace sectors.
