Invalda INVL Group announces that it has successfully completed a first closing of its second-generation private equity fund (“INVL Private Equity Fund II”), reaching EUR 305 million and exceeding its target of EUR 250 million. Invalda INVL Group is very active in Romanian market through few of its strategies and with the launch of the fund will be seeking to increase its presence in Romania.
Darius Šulnis, CEO Invalda INVL
It’s predecessor fund INVL Baltic Sea Growth Fund has recently agreed to invest in the Pehart Group, a leading producer of household and industrial paper products in the country, its renewable energy fund is planning to invest EUR 220 million in renewable energy projects and forestry fund is actively investing into Romanian forest.
The INVL Private Equity Fund II has received strong backing from both existing and new investors, forming an exceptional investor base. 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, as well as life insurance company UAB SB Draudimas. Fundraising will continue to reach a hard cap of EUR 400 million.
„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”, commented Darius Šulnis, CEO al Invalda INVL.
The INVL Renewable Energy Fund I is focusing on the Polish and Romanian markets, where the fund’s managers see big growth potential. Total capacity of the fund’s portfolio of projects in development in these markets is 388 MW.
In Romania, the fund is investing in projects for at leat 8 solar plants with a combined capacity of over 356 MW. In Poland, it is developing solar park projects with over 32 MW of capacity. Investments in the projects in Romania and Poland are expected to exceed EUR 258 million. Construction of all the solar parks in those countries should be completed by the end of the first quarter of 2027.
The 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. 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 EUR 10 million to EUR 40 million, with a preferred equity ticket of around EUR 25-30 million. However, the fund will also pursue larger deals together with co-investors.