Approved · Waiver · decided in 30 days, 27 Aug 2026
UnclassifiedWA-70032ACCC register
Movac Fund, as trustee for Movac Growth Fund 7 Limited Partnership, has acquired Series C Preference and Ordinary Shares in Advanced Navigation Pty. Ltd. This share acquisition is part of the technology company's Series C funding raise. Advanced Navigation develops AI-powered robotic and navigation technologies, with Movac being a venture capital firm.
Movac Fund, as trustee for Movac Growth Fund 7 Limited Partnership ( Movac GF7 LP ) proposes to purchase Series C Preference Shares and Ordinary Shares in Advanced Navigation Pty. Ltd ( AdNav ), as set out in the draft transaction documents provided in the application (the Acquisition ). The Acquisition is part of the second close of AdNav's Series C funding raise, and Movac Fund proposes to acquire a combination of Ordinary Shares and Series C Preference Shares in exchange for cash payments. Once the Acquisition is completed, Movac will have a small total aggregate shareholding in AdNav. Movac Fund is a venture capital fund vehicle managed by Movac Growth Limited ( Movac Growth ), which is associated with Movac Limited ( Movac ). Movac is a venture capital firm based in New Zealand that through its funds primarily invests in New Zealand or New Zealand-connected early- and growth-stage technology companies. Movac has a focus on investments in the Software-as-a-service ( SaaS ) and deep tech sectors. It also holds investments in several Australian and North American portfolio companies. AdNav develops AI-powered robotic and navigation technologies for defence, land, air, sea and space applications. It combines AI, software and sensor technology to provide positioning services where GPS is unavailable. AdNav primarily supplies inertial navigation systems, acoustic navigation systems, and underwater robotics/vehicles. Its products are usually sub-components and are primarily supplied to systems integrators rather than end users/consumers.