Advent advances up to $1 billion defense technology commitment with investment in Saronic

• Marks Advent's second investment under its commitment to invest up to $1 billion in next-generation defense technology companies, following recently announced investment in Shield AI
• Builds on Advent's longstanding investment strategy in defense and national security
• Expands exposure to autonomous systems in support of maritime industrial capacity and resilience

Boston, MA & London, UK - March 31, 2026 - Advent, a leading global private equity investor, today announced that it has made an investment in Saronic (or "the Company") as part of the Company's $1.75 billion Series D funding round, at a valuation of $9.25 billion. This investment advances Advent's recently announced commitment to invest up to $1 billion in next-generation defense technology companies, with an initial investment in Shield AI. The investment in Saronic also builds on Advent's long-established investment strategy in defense, where it has consistently backed businesses supporting national security priorities and technologies critical to resilience, modernization and long-term strategic advantage.

Saronic is a defense technology company focused on advancing autonomous systems for the maritime domain. The Company is working to strengthen maritime capability and industrial capacity through the development and scaled production of autonomous vessels and related technologies for defense and commercial applications. Advent's investment in Saronic will be used to help accelerate the Company's growth and maturation of its shipbuilding enterprise and also support the continued advancement, expansion, and scaled production of Saronic's portfolio of autonomous surface vessels and AI-driven maritime capabilities.

Shonnel Malani, Managing Partner and global head of aerospace and defense at Advent, said: "Maritime autonomy is becoming increasingly important to the future of defense and national security, and we believe Saronic is helping lead that shift. The Company is combining advanced autonomous capabilities with an ambitious vision for expanding U.S. shipbuilding capacity at a time when both technological advantage and industrial strength matter deeply. We are excited to support the Saronic team as they continue to scale their platform and redefine maritime superiority for the U.S. and its allies."

Since 2020, Advent has deployed more than $15 billion across the global defense sector, including investments in Shield AI, Cobham, Ultra Electronics, Vantor, and Attalon. Advent's experience in the sector includes supporting businesses at the intersection of advanced technology, mission-critical capability and industrial capacity, including through its ownership of Ultra Maritime. As a longtime investor in the defense sector, Advent is positioned to support pioneering defense technology companies through its global network, operational experience, and deep sector expertise, particularly in areas such as go-to-market strategy, manufacturing scale-up, M&A, and capital markets.

About Advent

Advent is a leading global private equity investor committed to working in partnership with management teams, entrepreneurs, and founders to help transform businesses. With 16 offices across five continents, we oversee more than USD $100 billion in assets under management* and have made 448 investments across 44 countries.

Since our founding in 1984, we have developed specialist market expertise across our five core sectors: business & financial services, consumer, healthcare, industrial, and technology. This approach is bolstered by our deep sub-sector knowledge, which informs every aspect of our investment strategy, from sourcing opportunities to working in partnership with management to execute value creation plans. We bring hands-on operational expertise to enhance and accelerate businesses.

As one of the largest privately-owned partnerships, our 655 colleagues leverage the full ecosystem of Advent's global resources, including our Portfolio Support Group, insights provided by industry expert Operating Partners and Operations Advisors, as well as bespoke tools to support and guide our portfolio companies as they seek to achieve their strategic goals.

To learn more, visit our website or connect with us on LinkedIn.

*Assets under management (AUM) as of September 30, 2025. AUM includes assets attributable to Advent advisory clients as well as employee and third-party co-investment vehicles.

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