BRISTOL, TN / ACCESS Newswire / November 11, 2025 / Goldman Sachs filed a Schedule 13G revealing an 798,260 share stake in VisionWave Holdings, Inc. (Nasdaq:VWAV) through Goldman Sachs & Co. LLC, representing 5.2% ownership with shared voting and dispositive power.
VisionWave also announced the Varan Unmanned Ground Vehicle, a next-generation autonomous ground platform scheduled for field testing in December 2025 with a major European defense partner.
The combination of institutional backing from one of Wall Street's premier defense tech investors and a flagship product entering validation testing puts VisionWave at the center of the ground autonomy revolution.
We've watched aerial drones transform warfare over the past decade. Ground autonomy might be bigger.
The Varan Platform
Named after the Varan lizard for its instinctive ability to move with precision and dominate any terrain, VisionWave's UGV represents what CEO Noam Kenig calls "a new generation of battlefield intelligence."
The platform features VisionWave's proprietary drive train with independently actuated suspension legs, combining the agility of robotic platforms with the speed of wheeled vehicles and the terrain dominance of tracked systems.
Powered by cutting-edge 4D radar and VisionWave's autonomous navigation engine, the Varan operates both individually and in coordinated swarms, navigating complex terrain, avoiding obstacles, and detecting ground and aerial threats in real time.
The modular design enables rapid reconfiguration across mission types including counter-UAS defense, Active Protection Systems, remote weapon systems, troop and supply transport, and CASEVAC modules for casualty evacuation.
Developed entirely in-house by VisionWave's UK engineering team under Jez Williman, Head of Ground Vehicle Development, the platform prioritizes extreme terrain capability, reliability, and serviceability. Available in electric and hybrid variants, the Varan is optimized for stealth, endurance, and rapid deployment.
Field testing scheduled for December 2025 in Europe with a major defense industry partner will demonstrate the Varan's swarm coordination, modular payload integration, and all-terrain endurance capabilities. The Varan represents the first in a planned family of next-generation ground autonomy systems currently in development at VisionWave.
The Ground Autonomy Market Opportunity
In March 2025, Ukraine conducted the first combat assault using UGVs and FPV drones exclusively. The operation succeeded, demonstrating that autonomous combined-arms tactics work in actual battlefield conditions.
That validation is driving procurement momentum across NATO.
At the 2025 NATO Summit in The Hague, member states committed to invest 5% of their GDP annually on core defense requirements by 2035. The European Commission's ReArm Europe plan loosens fiscal rules, allowing member states to spend an additional €650 billion on defense. Goldman Sachs' European defense basket outperformed all other subsector baskets, with analysts expecting more upside as these procurement budgets actually deploy.
VisionWave's UK location positions it perfectly for this spending wave. European procurement increasingly prioritizes domestic or allied suppliers over non-NATO sources. A British company developing autonomous ground systems hits the strategic procurement sweet spot.
The U.S. Army plans to integrate UGVs in brigade combat teams by 2030. That creates a seven-year procurement window for platforms that can demonstrate capability, reliability, and cost-effectiveness during field testing phases happening right now.
Why Goldman's Stake Matters
Both The Goldman Sachs Group, Inc. and Goldman Sachs & Co. LLC appear as reporting persons on the filing. Goldman Sachs filed as a broker-dealer, investment adviser, and parent holding company, indicating strategic positioning in the defense technology sector rather than passive index exposure.
The firm maintains a dedicated Head of Global Resilience Technology Investment Banking focused on defense and space technology companies. Their completed transactions in this sector exceed $30 billion in M&A and $35 billion in capital raised.
For investors evaluating VisionWave, Goldman's stake provides meaningful validation. The firm's defense tech expertise and track record suggest thorough due diligence on both the technology platform and market opportunity-this scale of position represents significant institutional conviction in VisionWave's ground autonomy portfolio.
The Investment Opportunity
VisionWave's December 2025 field testing in Europe represents a key milestone for the platform. Successful validation with a major defense partner could open procurement discussions and additional testing partnerships across NATO allies.
The Varan's modular design and swarm coordination capabilities position it for multiple use cases across different force structures. Defense procurement increasingly favors platforms that can adapt to evolving tactical requirements through software updates rather than hardware replacement.
VisionWave describes the Varan as the first in a planned family of ground autonomy systems, indicating long-term platform development. The company's UK location positions it favorably for European defense procurement, which increasingly prioritizes allied suppliers.
VisionWave enters this validation phase with institutional backing from Goldman Sachs and a technology platform designed for the shifting defense landscape.
What Investors Should Watch
The December field testing represents the next critical milestone. Successful validation with the defense partner could open doors to procurement discussions and additional testing partnerships across NATO allies.
As Goldman Sachs analysts noted, European defense spending hasn't yet fully materialized despite significant commitments. As procurement budgets deploy, platforms that demonstrate capability during validation testing stand to benefit from the €650 billion in additional defense spending authorized under the ReArm Europe plan.
The U.S. Army plans to integrate UGVs in brigade combat teams by 2030, creating additional market opportunities for proven platforms.
The combination of institutional validation and technology readiness positions VisionWave at the center of what could become a significant defense technology transition-from traditional armored systems to autonomous ground platforms that offer cost efficiency, tactical flexibility, and high attrition tolerance in modern warfare.
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