INVL Baltic Sea Growth Fund

Overview

INVL Baltic Sea Growth Fund is a closed-end private equity fund with a total size of €165 million, focusing on investments in high-growth companies across the Baltic region and neighboring countries. The fund targets majority or significant minority stakes, investing between €10 million and €30 million in companies with high growth potential and the ability to compete globally. Its geographical focus includes Lithuania, Latvia, Estonia, Poland, Sweden, Denmark, Norway, Finland, Germany, Czech Republic, Slovakia, Hungary, Austria, Slovenia, Croatia, Serbia, Bosnia and Herzegovina, Montenegro, North Macedonia, and Albania. The fund's investment strategy emphasizes sectors such as healthcare, civil engineering, environmental management, plastic recycling, waste management, cosmetics, hygiene products, food processing, medical rehabilitation, and veterinary services. Notable portfolio companies include Eco Baltia, InMedica, Eglės Sanatorija, Galinta, FERN Group, and LuxVet Group. As of the end of 2023, the fund reported a net internal rate of return of 26% and a cash-on-cash multiple of 1.9 times. Managed by INVL Asset Management, a leading Baltic alternative asset manager, the fund benefits from over 30 years of experience in private equity investments. INVL Asset Management manages or supervises over €2 billion in assets across multiple asset classes, including private equity, forests and agricultural land, renewable energy, real estate, and private debt. The fund's anchor investor is the European Investment Fund (EIF), which has committed €30 million to support the fund's initiatives in the Baltic region.