Mumbai: IDBI Capital Markets & Securities Limited (ICMS) that manages the Maharashtra Defence and Aerospace Venture Fund (MDAVF), a SEBI-registered Category II Alternative Investment Fund (AIF) focused on supporting innovative companies in the defence and aerospace sectors, recently announced its successful exits from two of its portfolio companies, viz Sagar Defence Engineering Pvt. Ltd. and Zeus Numerix Pvt. Ltd.
Both exits, delivered with impressive IRRs, underscore the strength of ICMS’ collaborations and reaffirm MDAVF’s commitment, under ICMS’ guidance, to nurturing technological innovation and self-reliance in India’s defence and aerospace ecosystem. MDAVF, to date, has invested approximately ₹415 crore in 23 MSMEs in the defence and aerospace sector.
Sagar Defence Engineering Pvt. Ltd. (SDE), a pioneer in the development of Unmanned Marine Systems, enhancing data collection, communication, and surveillance through cutting-edge technology. The Unmanned Marine Surface Vehicle, an unmanned autonomous ocean robot, is the essential technology for this transformation. Sitting at the surface, the UMSV is capable of collecting and communicating ocean data, real-time, through unpredictable conditions. It connects subsea data and communicates it to satellites and land, creating an ocean network.
Zeus Numerix Pvt. Ltd., a leader in advanced engineering simulation services and is known for its indigenous development of mission-critical systems, including precision-guided munitions, and supports strategic Indian institutions like DRDO, ISRO, and BARC in solving complex engineering challenges through cutting-edge simulation and modelling technologies. Zeus Numerix specializes in advanced computational simulations using methods Computational Fluid Dynamics (CFD) and Finite Element Analysis (FEA) and Multiphysics modelling. Zeus Numerix originated from the IITZeus group at the Department of Aerospace Engineering, IIT Bombay, and was one of the first startups incubated at SINE (Society for Innovation and Entrepreneurship) at IIT Bombay.
Amey Belorkar, Senior Vice President, IDBI Capital Markets & Securities Ltd said, “MDAVF and ICMS are proud to have been part the growth and success of Sagar Defence Engineering and Zeus Numerix. They have played a pivotal role in advancing technological innovation and self-reliance in India’s defence and aerospace sectors by pushing the boundaries of technology. MDAVF, remains committed to supporting the Aatmanirbhar Bharat vision by backing high-potential ventures that strengthen indigenous capabilities and drive long-term impact.
