Invalda INVL Group announced that it completed the first closing of its second-generation private equity fund (INVL Private Equity Fund II), reaching €305 million and exceeding its target of €250 million.
The INVL Private Equity Fund II received strong backing from existing and new investors, forming an exceptional investor base. And this includes some of the most successful entrepreneurs from across the Baltics, family offices and institutional investors such as the European Investment Fund, pensions funds managed by Luminor asset management companies, SB Asset Management and IPAS INVL Asset Management in Latvia, and life insurance company UAB SB Draudimas. The fundraising will continue to reach a hard cap of €400 million.
The minimum investment in the INVL Private Equity Fund II was €10 million. But investors could invest in the fund via INVL Private Equity Capital Fund II with a ticket as low as €125,000 which subsequently reached a total size of €116 million.
To fully align interests with the INVL Private Equity Fund II investors, Invalda INVL and the fund’s management team have invested €32.7 million, representing 11% of the total fund size.
This new fund will build on the strategy of the INVL Baltic Sea Growth Fund, seizing attractive opportunities across the Baltics, Poland, Romania and the broader EU. And the INVL Private Equity Fund II is sector-agnostic and will invest in companies with the potential to become regional leaders in their respective industries, focusing on acquiring majority or significant minority stakes. Through active investment management, the fund aims to drive long-term value creation.
This strategy includes forming a diversified portfolio of 10 to 12 investments, offering late-stage growth capital to target companies, and executing buyout and buy-and-build strategies. The investment size will typically be between €10 million and €40 million, with a preferred equity ticket of around €25 million to €30 million. However, the fund will also pursue more significant deals together with co-investors.
KEY QUOTES:
“This highly successful fundraising reflects investors’ trust in our work, as well as a pragmatic view on the region’s perspectives and potential. It also signals opportunities for companies and countries in the region seeking investment.”
“INVL Private Equity Fund II will invest in businesses across Lithuania, Latvia, Estonia, Poland, Romania and the broader EU – backing those with the potential to become leaders in their competitive fields and drive value creation, along with the talented and determined people behind their success. In a rapidly changing environment, we see an increasing number of attractive investment opportunities. Having successfully built and developed multiple businesses, we understand the dedication, ambition and challenges that come with seizing new opportunities and driving growth. We take an active role in companies’ development, believing that this is the key to delivering strong returns for our investors – whose support, capital and high standards empower us to act.”
– Darius Šulnis, CEO at Invalda INVL
”This is a historic milestone for the Baltics, as we have announced the largest private equity fund ever raised in the region. We are extremely grateful to our investors for their trust. It is both an honour and a great responsibility to uphold this confidence in us. We will continue the successful strategy of our predecessor, the INVL Baltic Sea Growth Fund and remain fully committed to work hand-in-hand with management teams to drive transformative growth and create long-term value for companies, our investors as well as contributing to the growth of the economy. We strongly believe that our experience and network bolster our capabilities as a value-add partner to companies.”
“The predecessor INVL Baltic Sea Growth Fund which raised EUR 165 million closed the year in 2024 with a 25% net internal rate of return (Net IRR), total value to paid-in capital (TVPI) exceeding 2x and having announced the first agreed exit from its portfolio company InMedica that is to become one of the largest investments in healthcare services in the Baltics to date.”
– Deimantė Korsakaitė, Managing Partner at INVL Private Equity Fund II and INVL Baltic Sea Growth Fund
“We are delighted to be part of this record alongside our clients. At the same time, it demonstrates that our family office offers exceptional solutions that meet investors’ needs for sustainable and long-term results.“
– Asta Jovaišienė, Head of INVL Family Office
