Shonnel Malani, Managing Partner and Global Head of Aerospace & Defence
The world is changing, faster and more fundamentally than at any point in recent decades. What is emerging is not just a shift in defence spending, but a reordering of how defence capability itself is developed, scaled, and deployed. At the centre of this shift is technology. Advances in autonomy, artificial intelligence, and software-defined systems are reshaping what is possible in the operational environment, exposing widening gaps between legacy capabilities and the demands of modern security challenges.
At Advent, we have spent the past several years leaning into this reality. Since 2020, we have deployed more than $15 billion into the defence sector, helping to redefine, modernise, and scale businesses critical to national security. Through these partnerships, we have also seen the emergence of a new generation of innovators building technologies that will help define the future of defence: autonomy-first, software-defined, and operating at a pace that traditional procurement and industrial models have historically struggled to match.
This conviction underpins our commitment to invest up to $1 billion in next-generation defence technology. This is not a departure from our strategy, but a natural extension of it—an opportunity to engage earlier in the innovation cycle and support companies as they scale, mature, and integrate into the broader defence ecosystem. Private capital has a clear role to play in bridging the gap between breakthrough innovation and operational deployment.
We have already put this strategy into action through two investments. Our investment in Shield AI speaks to the role of software and autonomy in closing capability gaps, enabling aircraft to execute missions in GPS- and communications-denied environments where traditional systems fall short. In parallel, in maritime autonomy, our investment in Saronic is helping to rebuild critical industrial capacity through AI-enabled, scalable shipbuilding. Together, these investments point to a broader shift: the convergence of software and hardware, and the growing importance of deploying capability at scale, with speed and precision.
What is now emerging is a new kind of defence industrial base, software-driven, capital-enabled, and built for rapid iteration. These companies are not only developing new technologies; they are seeking to redefine how defence systems are designed, built, and delivered, challenging long-held assumptions around timelines, cost structures, and scalability. If this new industrial base is to take hold, the question is not simply what is invented, but how it is built—through companies capable of translating advanced technology into repeatable, reliable capability.
At Advent, we believe that bridging capital, innovation, and execution is where we can have the greatest impact. Enabling this next generation of companies goes beyond funding. It requires an understanding of how technologies are brought to market, scaled in complex industrial environments, and integrated into national security ecosystems. Drawing on our experience across the sector, as well as the perspectives of our portfolio and broader network, we aim to help companies navigate this transition from breakthrough innovation to durable, operational capability.
