Lunate Capital disclosed acquiring 200,000 shares of Navan (NASDAQ:NAVN) worth $3.42 million in a new position as of January 23, per SEC filing. Top holdings post-filing include RVMD, SAIL, LINE, and NMRA, with Navan being 1.3% of assets under management. Navan shares were priced at $15.09 on Friday, down 60% from IPO price.

Navan, Inc. offers an AI-powered software platform for travel, payments, and expense management, serving finance, HR, and travel managers in mid to large-sized organizations. The company’s revenue comes from SaaS solutions that streamline travel and expense processes, with a market cap of $3.46 billion and TTM revenue of $656.3 million.

In a new position, Lunate Capital invested $3.42 million in Navan despite a 60% post-IPO drop, representing 1.3% of assets under management. Navan reported revenue of $195 million, up 29% YoY, with gross booking volume reaching $2.6 billion. CEO Ariel Cohen highlighted continued momentum in the enterprise market and AI platform adoption.

Missed out on successful stocks? Get “Double Down” stock recommendations from analysts for companies about to soar. Past examples like Nvidia, Apple, and Netflix show impressive returns. Stock Advisor alerts for three companies are available now. Don’t miss the chance to invest before it’s too late. *Stock Advisor returns as of January 20, 2026.

Read more at Yahoo Finance: This Fund Put $3.4 Million Into Navan Despite a 60% Post-IPO Drop