Approved · Waiver · decided in 29 days, 1 May 2026
Airtree Ventures Opportunity Fund V Partnership, National Reconstruction Fund Corporation, Australian Retirement Trust, and other investors are acquiring shares in Advanced Navigation Pty. Ltd. This share acquisition, via a sale and subscription deed, targets a company manufacturing AI-powered navigation solutions for defence primes.
On 5 March 2026, Advanced Navigation Pty. Ltd ( AdNav ), several existing shareholders of AdNav, and several new investors, entered into a sale and subscription deed ( SSD ). Under the SSD, Airtree Ventures Opportunity Fund V Partnership and its affiliates, National Reconstruction Fund Corporation, Australian Retirement Trust, Franklin Park Venture Capital Opportunity Fund II, L.P., LGPE SEC S.C.Sp, Crown Growth Opportunities IV SCSp-RAIF, Crown Asia-Pacific Private Equity V Master SCSp, Crown Asia-Pacific Private Equity VI Alt S.C.Sp., and Harvard Private Capital Realty Inc (collectively, the New Investors ) along with a variety of other investors will directly or indirectly (through a separate nominee vehicle or trust) acquire shares of AdNav and enter into a shareholders agreement (the Acquisition ). AdNav develops, manufacturers and offers AI powered navigation solutions, primarily for defence primes.