Invalda INVL Group has successfully completed a first closing of its second-generation private equity fund (INVL Private Equity Fund II), reaching €305m in capital commitments and exceeding its original fundraising target of €250m.
The INVL Private Equity Fund II has received strong backing from both existing and new investors, including 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, as well as life insurance company UAB SB Draudimas.
Fundraising will now continue up to the fund’s hard cap of €400m.
The minimum investment in the INVL Private Equity Fund II was €10m, although investors could invest in the fund via INVL Private Equity Capital Fund II with a ticket as low as €125,000
subsequently reached a total size of €116m.
Invalda INVL and the fund’s management team have also invested €32.7m, which equates to 11% of the fund’s current size.
The new fund will build on the strategy of the INVL Baltic Sea Growth Fund, and focus on opportunities across the Baltics, Poland, Romania and the broader EU. 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.
The strategy includes forming a diversified portfolio of 10–12 investments, providing late-stage growth capital to target companies and executing both buyout and buy-and-build strategies. Investment size will typically be in the region of €10m to €40m, with a preferred equity ticket of around €25-30m. However, the fund will also pursue larger deals together with co-investors.
