Osvetnik (Avenger) was the first of the Osvetnik-class diesel-electric submarines built by Ateliers et Chantiers de la Loire, Nantes, France for the navy of the Kingdom of Serbs, Croats and Slovenes (later Yugoslavia).

Due to her age and shallow diving depth, when she was commissioned into the Royal Italian Navy as Francesco Rismondo; her service was limited to training and experimentation.

[2] Osvetnik was built for the Kingdom of Serbs, Croats and Slovenes (later Yugoslavia) by the Ateliers et Chantiers de la Loire company (ACL) at Nantes, France.

Her partial double hull design,[3] was based on plans by ACL's chief engineer, G. Simonot,[4] and was similar to the French Circé-class submarines.

[5] For surface running, the Osvetnik-class boats were powered by two MAN (Maschinenfabrik) diesel engines which were rated at 1,480 brake horsepower (1,100 kW) that drove two propeller shafts.

[6] In 1932, the British naval attaché reported that Yugoslav ships engaged in few exercises, manoeuvres or gunnery training due to reduced budgets.

[11] On 10 April, Osvetnik and Hrabri received orders for an operation against the Italian enclave of Zara on the Dalmatian coastline, but the mission did not proceed.