Mumbai, Jan. 30 -- 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 j...