INVL Special Opportunities Fund

INVL Special Opportunities Fund indirectly invested in the shares of Moldova-Agroindbank

 

INVL Special Opportunities Fund, a venture capital sub-fund of the closed-end umbrella fund intended for informed investors INVL Alternative Assets Umbrella Fund, indirectly invested in the shares of Moldova-Agroindbank(MAIB), the largest bank in Moldova. Sub-fund started its activities on 24 July 2018.

The Fund size is EUR 4.5 million. The minimum investment in the fund amountedto EUR 200 thousand, and maximum – EUR 500 thousand.

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

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

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

Moldova-Agroindbank is the largest commercial bank in Moldova. Assets of the bank at the end of 2019 amounted to EUR 1.3 billion, equity was EUR 229 million.

INVL Asset Management belongs to Invalda INVL Group.

More information about the project: here.