Maharashtra Defence And Aerospace Venture Fund

Maharashtra Defence and Aerospace Venture Fund (MDAVF) is a SEBI-registered Category II Alternative Investment Fund (IN/AIF2/18-19/0578), registered on September 5, 2018. The fund was established as a Trust under the Indian Trusts Act, 1882, settled by Maharashtra Industrial Development Corporation (MIDC) as Settlor, with IDBI Trusteeship Services Limited (ITSL) as the Trustee. IDBI Capital Markets & Securities Limited was appointed as the Investment Manager under an Investment Management Agreement. The primary investment objective of the fund is to promote sustainable enterprises in the defence, aerospace, and allied sectors in Maharashtra. The fund invests in companies that supply goods or services to the defence or aerospace industries, manufacture or supply components for those sectors, or are otherwise strategically important to India. Investments are made via equity, equity-linked instruments, convertible instruments, and debentures. The fund targets both early-stage startups and growth-stage companies, aiming to generate high risk-adjusted returns while building Maharashtra's defence and aerospace ecosystem. IDBI Capital Markets & Securities Limited is a wholly owned subsidiary of IDBI Bank Limited and is a leading investment banking and securities firm based in Mumbai.