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€165 million INVL Baltic Sea Growth Fund is the leading private equity investment fund in the Baltic States, with the European Investment Fund (EIF) as the main investor.

The fund aims to build a diversified portfolio by focusing on majority or significant minority stakes and investing from €10 to 30 million in companies with high growth potential and the ability to operate in the face of growing global competition.

The fund focuses on investment in the Baltic States and neighbouring regions such as Poland, Scandinavia and Central Europe. It has already invested in two companies providing healthcare and engineering services. You can find fund’s portfolio here: https://bsgf.invl.com/portfolio/fund-investments/

The strategy of ‘INVL Private Equity Fund II‘ (hereinafter – the Fund) is to use attractive opportunities in the Baltic States and Poland to invest in medium-sized companies that, after the injection of additional capital, have the potential to become leaders in their sector in the region, thereby ensuring very attractive risk-adjusted returns to investors. The Fund can also invest in companies listed in any country of the European Union, European Economic Area or European Free Trade Association. The Fund will focus on a controlling stake of a significant minority and will actively participate in investment management in order to significantly increase the value of capital in the long term. It will aim to target a diversified portfolio of 10-12 investments, providing late-stage capital to targets, as well as corporate buyouts and invest-in investments.

The Fund will invest in one portfolio investment from 15 million up to 35 million euros, however, in the presence of significant value growth potential with additional investments, it will be able to carry out smaller initial capital investments, and depending on the final size of the Fund, it will be able to carry out larger capital investments as well. The values of the target portfolio companies will range from 30 million euros up to 150 million euros.

INVL Technology operates as a closed-end investment company (CEF) which invests in and develops European IT businesses. The company is headquartered in Vilnius and is listed on the Nasdaq Vilnius stock exchange.
INVL Technology owns 3 company groups: Novian (a Baltic IT company), NRD Companies (a GovTech company), and NRD Cyber Security (a cybersecurity company).
On 14 July 2016, the Bank of Lithuania granted INVL Technology a permit to operate as a CEF for 10 years with a possible extention for 2 more years.

INVL Special Opportunities Fund has indirectly invested in the stock of Moldova-Agroindbank (MAIB), the largest bank in Moldova. The Sub-Fund started its activities on 24 July 2018.

The size of the Sub-Fund is €4.5 million. The minimum investment in the Sub-Fund was €200,000, and the maximum – €500,000.

On 2 October 2018, an international consortium, which includes the European Bank for Reconstruction and Development (EBRD), Invalda INVL and Horizon Capital and which acts via UK-based company HEIM Partners, won an auction for the sale of stake in Moldova-Agroindbank (MAIB), Moldova’s largest commercial bank. For 41.09% of the MAIB shares HEIM Partners offered MDL 451.533 million (€23.031 million).

Lithuanian based MD Partners and EBRD each owns 37.5% of the shares in HEIM Partners, while the private equity manager Horizon Capital holds 25%.

INVL Special Opportunities Fund owns 48.63% of shares in MD Partners, while Invalda INVL – 51.37%.

Moldova-Agroindbank is the leading commercial bank in Moldova. Its assets at the end of 2022 amounted to €2.1 billion, and equity to €325 million.

More information: https://www.maib.md/en

INVL Baltic Sea Growth Capital Fund

The size of INVL Baltic Sea Growth Capital Fund is €60.3 million. The raised funds were invested in INVL Baltic Sea Growth Fund, the leading private equity fund in the Baltic States.

INVL Baltic Sea Growth Fund aims to build a diversified portfolio by focusing on majority or significant minority stakes and investing from €10 to 30 million in companies with high growth potential and the ability to operate in the face of growing global competition.

The fund focuses on investment in the Baltic States and neighbouring regions such as Poland, Scandinavia and Central Europe. It has already invested in two companies providing healthcare and engineering services. You can find fund’s portfolio here: https://bsgf.invl.com/portfolio/fund-investments/

INVL Partner Private Equity Fund I

The Sub-Fund’s assets are invested in EQT X, a €20 billion target fund established by EQT, one of the world’s largest private equity investment companies. The Sub-Fund’s main investment strategy is to invest primarily in European and US health care, technology and business services sector companies. The sectors in which the Funded CIU will invest may be subject to review and change and new sectors are identified and selected, taking into account various factors, including, but not limited to, market trends, economic and regulatory perspectives, risk-return ratio, etc.

INVL Baltic Real Estate, listed on the Nasdaq Vilnius Stock Exchange, invests in commercial real estate in the Baltic States. The company manages facilities in good locations in Lithuania (Vilnius) and Latvia (Riga).

The companies owned by INVL Baltic Real Estate have invested in office, warehousing and production real estate in Lithuania and Latvia. All facilities provide rental income and almost all have prospects for further development.

INVL Baltic Forests Fund I had invested in Lithuania’s forests with a focus on sustainable forestry in our country. In total, the Fund managed more than 5,600 hectares of forest. The fund has raised EUR 15 million, paid out EUR 24.87 million to investors over its history, earning them an average annual return of 27.3%, which was significantly higher than the 8% average annual return the fund was targeting.

The forest investment activity continues with INVL Sustainable Timberland and Farmland Fund II, established in 2020.

INVL Sustainable Timberland and Farmland Fund II – Capital Fund

INVL Partner Energy and Infrastructure Fund

INVL Partner Global Infrastructure Fund I

The Sub-Fund seeks to achieve a long-term increase in the value of the capital, while generating regular income from the Sub-fund’s assets. The Sub-Fund intends to achieve this investment objective by indirectly acquiring, holding and disposing of interests in the collective investment undertakings investing in core infrastructure in its portfolio.

The Sub-Fund’s investment portfolio consists of collective investment undertakings whose investment strategy seeks to acquire brownfield assets located in the Member States of the Organisation for Economic Co-operation and Development (OECD) or in the territories of other countries which are not members of the OECD, but which seek to invest in assets located in countries with a sustainable regulatory and legal environment.

INVL Partner Global Real Estate Fund I

INVL Bridge Finance Fund aims to generate a long-term stable return by investing in private debt securities of companies in the fast-growing alternative financing sector.

Target companies may have limited access to traditional lending instruments, but are able to ensure stable cash flows. The fund’s team actively contributes to the management of target companies, and short-term financial instruments cover the fund’s liquidity needs.

INVL Partner Global Distressed Debt Fund I

Assets of the Sub-Fund consists of interest in fund managed by third party asset manager. Investment strategy employed by this manager involves acquisition of discounted debt securities issued by prominent companies with well established business model and acquiring of bank loans in respect of aforementioned companies. Investment returns are achieved through workouts or other means directed to increase of value to par of such acquired obligations.

The size of INVL Baltic Sea Growth Capital Fund is €60.3 million. The raised funds were invested in INVL Baltic Sea Growth Fund, the leading private equity fund in the Baltic States.

INVL Baltic Sea Growth Fund aims to build a diversified portfolio by focusing on majority or significant minority stakes and investing from €10 to 30 million in companies with high growth potential and the ability to operate in the face of growing global competition.

The fund focuses on investment in the Baltic States and neighbouring regions such as Poland, Scandinavia and Central Europe. It has already invested in two companies providing healthcare and engineering services. You can find fund’s portfolio here: https://bsgf.invl.com/portfolio/fund-investments/

The Sub-Fund’s assets are invested in EQT X, a €20 billion target fund established by EQT, one of the world’s largest private equity investment companies. The Sub-Fund’s main investment strategy is to invest primarily in European and US health care, technology and business services sector companies. The sectors in which the Funded CIU will invest may be subject to review and change and new sectors are identified and selected, taking into account various factors, including, but not limited to, market trends, economic and regulatory perspectives, risk-return ratio, etc.

Assets of the Sub-Fund consists of interest in fund managed by third party asset manager. Investment strategy employed by this manager involves acquisition of discounted debt securities issued by prominent companies with well established business model and acquiring of bank loans in respect of aforementioned companies. Investment returns are achieved through workouts or other means directed to increase of value to par of such acquired obligations.

The Sub-Fund seeks to achieve a long-term increase in the value of the capital, while generating regular income from the Sub-fund’s assets. The Sub-Fund intends to achieve this investment objective by indirectly acquiring, holding and disposing of interests in the collective investment undertakings investing in core infrastructure in its portfolio.

The Sub-Fund’s investment portfolio consists of collective investment undertakings whose investment strategy seeks to acquire brownfield assets located in the Member States of the Organisation for Economic Co-operation and Development (OECD) or in the territories of other countries which are not members of the OECD, but which seek to invest in assets located in countries with a sustainable regulatory and legal environment.

The Fund shall seek a long-term appreciation of the capital invested in the Fund by the investors while receiving a steady return on the Fund’s assets. The Fund intends to achieve this investment objective by acquiring, holding and disposing of stakes in the Portfolio collective investment undertakings, or in other funds managed by managers in Europe and the US, which invest in high quality real estate (office, retail, apartment buildings, etc.).

The Portfolio collective investment undertakings shall seek to acquire a portfolio of real estate assets that will generate steady income. The managers of the Portfolio collective investment undertakings shall seek to diversify the portfolio according to the location of the investees, the type of property, the size, the lease term, the profile of the tenant, and other normal diversification considerations.