Venture fund MGF-Kavachh closes first deal with Rs 400 crore

Former defence secretary Ajay Kumar has raised ₹400 crore for his venture fund MGF-Kavachh, aimed at investing in startups in defence, space, and deep tech sectors. The fund has closed its first deal and is close to finalising three more. Kumar plans to invest in 30 startups with contributions from high-net-worth individuals and family offices.