Maharashtra Defence and Aerospace Venture Fund (MDAVF) Announces Successful Exit from Two Portfolio Companies

Newsmantra — Mon, 10 Feb 2025 11:51:08 +0000

February 10, 2025, Mumbai: The Maharashtra Defence and Aerospace Venture Fund (MDAVF), a SEBI-registered Category II Alternative Investment Fund (AIF) managed by IDBI Capital Markets & Securities Limited (ICMS) focused on supporting innovative companies in the defence and aerospace sectors, recently announced its successful exit from two of its portfolio companies, viz., Cyronics Innovation Labs Private Limited (CILPL) and JSR Dynamics Private Limited (JSR Dynamics) realizing ₹14.46 crores and ₹59.15 crores respectively.

Mr. Amey Belorkar, Fund Manager – Maharashtra Defence and Aerospace Venture Fund (MDAVF), IDBI Capital Markets & Securities Ltd, speaking about the exits said, “Both, Cyronics Innovation Labs and JSR Dynamics, are instrumental in driving technological progress and self-reliance within India’s defence and aerospace industries with a focus on enhancing the operational effectiveness of defence forces. MDAVF remains focused on supporting India’s journey towards self-reliance by investing in high-potential ventures that foster technological breakthroughs and enhance indigenous capabilities. These milestones reflect the strength of our investment strategy and our ongoing commitment to driving innovation in India’s defence and aerospace sectors. By backing sustainable growth in these critical industries, we’re proud to contribute to India’s defence ecosystem and the vision of Atmanirbhar Bharat.”

MDAVF, to date, has invested approximately ₹406 crore in 22 MSMEs. The fund has successfully executed full and partial exits from 12 companies, realizing divestment proceeds of around ₹281 crore and achieving a strong Internal Rate of Return that highlights the fund’s disciplined and strategic approach to value creation.

Cyronics Innovation Labs Private Limited (CILPL)

CILPL, founded in 2020, operates in the AI and Machine Learning sectors, specializing in software-defined radio technologies for the defence and aerospace sectors. CILPL has served leading defence and aerospace organizations, including Kirloskar Oil Engines Ltd., Navstar Integrated Systems Pvt. Ltd. (Navy) and Theta Controls (Army), among others.

JSR Dynamics Private Limited (JSR Dynamics)

JSR Dynamics was founded in 2018 with an intention to contribute in a big way towards achieving self-reliance in the defense sector through indigenous Design, Development and Manufacture. JSR Dynamics is engaged in the development and manufacturing of advanced munitions, including glide bombs and loitering munitions. The company’s products are poised to play a significant role in both Indian and international defence markets.

These exits showcase MDAVF’s commitment to supporting high-potential ventures in the defence and aerospace industry, driving technological advancements, and generating strong returns for its stakeholders. Both exits have been marked by impressive internal rates of return (IRR), underscoring the fund’s effective investment strategy and its ability to identify high-growth companies.

Managed by IDBI Capital Markets & Securities Limited, MDAVF continues to play a transformative role in driving indigenous innovation, fostering self-reliance, and enhancing India’s global competitiveness in the defence and aerospace sectors.

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Maharashtra Defence and Aerospace Venture Fund: A Catalyst for Innovation, Indigenization, and Self-Reliance

Newsmantra — Fri, 31 Jan 2025 10:00:58 +0000

Mumbai, January 30, 2025: The Maharashtra Defence and Aerospace Venture Fund (MDAVF), a SEBI-registered Category II Alternative Investment Fund (AIF) managed by IDBI Capital Markets & Securities Limited (ICMS), has emerged as a pivotal driver of India’s defence, aerospace, and allied sectors. Since its inception, MDAVF has committed an impressive ₹480 crore across 27 MSMEs, focusing on critical areas such as missile systems, aerospace technologies, naval systems, and electronic warfare.

To date, MDAVF has invested approximately ₹406 crore in 22 MSMEs. The fund has successfully executed full and partial exits from 12 companies, realizing divestment proceeds of around ₹281 crore and achieving a strong Internal Rate of Return that highlights the fund’s disciplined and strategic approach to value creation.

Mr. Amey Belorkar, Fund Manager – Maharashtra Defence and Aerospace Venture Fund (MDAVF), IDBI Capital Markets & Securities Ltd., stated, “MDAVF is committed to supporting India’s vision of self-reliance in defence and aerospace by channelizing 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.”

MDAVF’s investments have led to the creation of over 3,000 direct jobs and an estimated 10,000-15,000 indirect jobs across Maharashtra. By nurturing a robust ecosystem for defence and aerospace within the state, the fund has catalysed skill development, indigenization, and technological advancement in critical defence manufacturing sectors. Notably, 13 of the 27 MDAVF-backed companies are led by women promoters and entrepreneurs, actively driving innovation and growth in the defence and aerospace industry. This highlights MDAVF’s unwavering commitment to diversity, inclusivity, and empowering women within India’s defence ecosystem.

The fund’s investments align seamlessly with the government’s visionary ‘Make in India’ initiative, prioritizing the development of indigenous capabilities in defence production. Sectors such as nuclear solutions, UAV automation, marine technologies, and aerospace advancements have witnessed remarkable progress, positioning India as a global leader in cutting-edge defence manufacturing. MDAVF is poised to leverage emerging opportunities in advanced technologies and manufacturing, providing a resilient platform for sustainable growth, innovation, and self-reliance.

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Maharashtra Defence and Aerospace Venture Fund (MDAVF) Announces Successful Exit from Two Portfolio Companies

Maharashtra Defence and Aerospace Venture Fund: A Catalyst for Innovation, Indigenization, and Self-Reliance