Maharashtra Defence and Aerospace Venture Fund announces Successful Exit from Two Portfolio Companies

Biznextindia : 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.