INVL Asset Management
INVL Asset Management is a Lithuanian alternative asset manager founded in 1991, managing approximately EUR 2.1 billion across private equity, renewable energy, real estate, timberland, defence infrastructure, and feeder funds for informed and institutional investors across the Baltic states and Central and Eastern Europe.
- Company typePrivate
- Founded1991
- HeadquartersVilnius, Lithuania
- Headcount101–250
- GTM typeB2B
- OfferingServices
What INVL Asset Management does
INVL Asset Management is a Lithuanian alternative asset manager founded in 1991 and operating as the wholly-owned asset management subsidiary of the Invalda INVL group. The firm manages or supervises approximately EUR 2.1 billion in assets across private equity, real estate, renewable energy, timberland, defence infrastructure, and private debt, with a geographic focus on the Baltic states (Lithuania, Latvia, Estonia) and selected Central and Eastern European markets (Poland, Romania). The company serves informed investors and institutional clients, with some retail access through bond-issuing vehicles. The platform is regulated by the Bank of Lithuania and operates with one of the largest dedicated alternative asset management teams in the Baltic region, comprising 64 investment professionals (32 with significant experience) and approximately 150 total employees headquartered in Vilnius.
The product platform is organized into four pillars: private capital (INVL Private Equity Fund II at EUR 410 million, INVL Baltic Sea Growth Fund, INVL Technology, INVL Special Opportunities Fund, and co-investment vehicles), real assets (INVL Renewable Energy Fund I with 389 MW of solar capacity across Poland and Romania, INVL Baltic Real Estate listed on Nasdaq Vilnius, INVL Sustainable Timberland and Farmland Fund II, and INVL Defence Infrastructure Fund I targeting the Rūdninkai military town PPP), private debt (INVL Bridge Finance), and a fund-of-funds/feeder architecture providing informed investors access to global managers including Main Capital Partners, Adams Street Partners, Brookfield, and Hines. Bond-issuing SPVs (REFI Sun, REFI Green, REFI Blue) extend retail access from EUR 1,000 nominal value with 8-9% yields, distributed via partner banks Artea bank (lead manager), LHV Bank, and Signet Bank across the three Baltic countries.
INVL Asset Management generates revenue through management fees on assets under management, performance fees and carried interest from successful fund exits, family office advisory fees from INVL Family Office overseeing over EUR 1 billion in assets for high-net-worth Baltic families, and capital gains from portfolio company realizations such as the EUR 23.7 million Airengy sale. Distribution combines a direct sales force through INVL Financial Advisors targeting informed investors (minimum EUR 125,000-145,000 thresholds), a partner-bank channel for retail bond products, and global feeder fund partnerships. The December 2023 divestiture of retail pension and investment fund operations to Artea (Šiaulių bankas) refocused the platform on higher-margin informed and institutional investor segments.
INVL Asset Management firmographics
Firmographics- Name
- INVL Asset Management
- Legal name
- UAB "INVL Asset Management"
- Website
- https://invl.com
- Company type
- Private
- Founded year
- 1991
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Short description
- INVL Asset Management is a Lithuanian alternative asset manager founded in 1991, managing approximately EUR 2.1 billion across private equity, renewable energy, real estate, timberland, defence infrastructure, and feeder funds for informed and institutional investors across the Baltic states and Central and Eastern Europe.
- Ownership category
- akta.pro rank
INVL Asset Management industry classification
Industry- Product category
- Alternative Asset Management
- NAICS
- Portfolio Management and Investment Advice (523940), Funds, Trusts, and Other Financial Vehicles (525)
- SIC
- Investment Advice (6282), Security Brokers, Dealers & Flotation Companies (6211)
- akta.pro primary industry
- Unit Registry & Transfer Agency for Alternatives (Private Funds, SPVs, Closed-End) (FSAAAMAK)
- akta.pro secondary industries
- NAV-Based / Portfolio Finance (Liquidity for LPs/GPs) (FSANAFAM), Debt Capital Raising Intermediation (Private Debt/Mezzanine/Bonds) (FSAEALAM)
Keywords
Where INVL Asset Management is headquartered
LocationHeadquarters
- HQ city
- Vilnius
- HQ country
- Lithuania
- HQ region
- Europe
Offices1 record
Markets served
INVL Asset Management business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Technology or R&D, Others
Revenue model
- Fund Management Fees: Management fees charged on assets under management across multiple alternative investment funds including private equity funds, real estate funds, renewable energy funds, and infrastructure funds.
- Performance Fees / Carried Interest: Performance-based fees from successful fund exits and portfolio company divestments, particularly from flagship funds like INVL Private Equity Fund II (EUR 410 million) and INVL Baltic Sea Growth Fund.
- Investment Advisory Services: Family office services for high-net-worth families in Lithuania, Latvia, and Estonia, overseeing over EUR 1 billion in investment assets.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Multi-year contract | European Software Private Equity Access Fund: EUR 125,000 minimum investment, closed-end fund targeting B2B software companies in Northern and Western Europe |
| Subscription | Multi-year contract | Global PE Secondaries Access Fund: USD 145,000 minimum investment, targeting global private equity secondary market through Adams Street Partners |
| Subscription | Pay-as-you-go | REFI Sun bonds: EUR 1,000 nominal value with 8.5% annual yield |
| Subscription | Pay-as-you-go | REFI Blue bonds: EUR 1,000 minimum investment with 8-9% yield range |
| Subscription | Multi-year contract | INVL Defence Infrastructure Fund I: EUR 100 million maximum fund size, targeting defence infrastructure in Lithuania |
| Subscription | Multi-year contract | INVL Partner Global Real Estate Fund I: USD 145,000 minimum investment for US real estate exposure |
| Subscription | Pay-as-you-go | INVL Technology share buyback: EUR 4.80 per share (May 2026), NAV per share: EUR 5.40 (December 2025) |
Go-to-market motion3 records
Distribution channels3 records
Marketing channels5 records
INVL Asset Management product offering
Product offeringCore offering
INVL Asset Management is a Baltic alternative asset manager that creates and manages a diversified platform of investment funds covering private equity, real assets (commercial real estate, timberland, renewable energy/solar, defence infrastructure), private debt, and feeder fund-of-funds vehicles. It distributes these funds and family office advisory services to high-net-worth families, informed investors, and institutional clients primarily through its wholly-owned subsidiary INVL Financial Advisors (operating as INVL Family Office) and through partner banks in Lithuania, Latvia, and Estonia.
Product overview
INVL Asset Management is the leading Baltic alternative asset manager, operating as a platform offering multiple investment funds across private equity, real assets, private debt, and fund-of-funds structures. The core platform includes direct investment funds such as INVL Private Equity Fund II, INVL Baltic Sea Growth Fund, INVL Technology, INVL Renewable Energy Fund I, INVL Baltic Real Estate, and INVL Defence Infrastructure Fund I. These are complemented by feeder funds (European Software Private Equity Access Fund, Global PE Secondaries Access Fund, and others) that provide access to third-party fund managers like Main Capital Partners and Adams Street Partners. Bond-issuing vehicles REFI Sun, REFI Green, and REFI Blue facilitate renewable energy project financing. The company manages over EUR 2.1 billion in assets across these product lines.
Differentiator
Problem solved
Functional benefit
Products and services
- INVL Private Equity Fund II Private equity fund investing in businesses across the Baltics, Poland, Romania, and other EU regions, focusing on growth opportunities and regional leadership. Target investors: informed investors and institutional clients.
- INVL Baltic Sea Growth Fund
Quantifiable outcome
- EUR 410 million raised for INVL Private Equity Fund II within 8 months, surpassing initial target and hard cap - largest PE fund in the Baltics
- +5 more outcomes
Companies that use INVL Asset Management
Customer profileNamed customers3 records
Segments4 records
Ideal customer profiles4 records
INVL Asset Management technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
INVL Asset Management partnerships and signals
Strategic signalPartnerships
Six partnerships are on record, tiered minor and core.
- Green GeniusminorRenewable energy company backed by EBRD developing 650 MW Italian photovoltaic portfolio. INVL Asset Management signed funding deal to advance Green Genius's solar projects to ready-to-build status. Green Genius is a subsidiary of Modus Group with 3.1 GW project pipeline across European markets.
- AirengyminorIsraeli capital renewable energy company listed on Tel Aviv Stock Exchange (ticker: ARNG). Purchased INVL Renewable Energy Fund I's 33.3 MW solar portfolio in Poland for EUR 23.7 million through forward sale structure. Transaction proceeds fund Romanian project development.
- ICON Corporate FinancecoreTechnology sector investment bank engaged by INVL Technology to broker the sale of its entire portfolio of portfolio companies including NRD Cyber Security, NRD Companies, and Novian. INVL Technology aims to complete divestment by 2028.
- Artea bankcoreLead manager and primary distributor for REFI Sun, REFI Green, and REFI Blue bond issuances in Lithuania. Also provides additional financing to INVL Baltic Real Estate (EUR 8 million credit for Pramogų bankas renovation). Merged retail operations with INVL in December 2023.
- LHV BankminorEstonian bank serving as distribution partner for REFI Sun bond offerings in Estonia alongside Artea bank as lead manager.
- Signet BankminorLatvian bank serving as distribution partner for REFI Sun bond offerings in Latvia alongside Artea bank as lead manager.
Scale indicators14 records
Recent moves9 records
Expansion highlights6 records
INVL Asset Management competitors and assessment
Company assessmentDirect peers
- LHV Asset Management: Estonia's largest domestic asset manager offering pension funds, retail funds, and alternative strategies to Baltic investors. Directly comparable as a regional asset manager serving informed and retail investors across the same geography.
- SEB Investment Management: Nordic-Baltic asset management arm of SEB, distributing investment funds across Lithuania, Latvia, and Estonia. Comparable in distribution channels, regulated fund products, and high-net-worth client base.
- Swedbank Investment Management: Baltic banking group with a substantial asset management franchise serving retail and institutional clients in Lithuania, Latvia, and Estonia. Comparable in regional distribution scale and product breadth.
- BaltCap: Largest dedicated Baltic private equity firm managing buyout and growth capital funds. Directly comparable as a regional PE competitor targeting Baltic and CEE mid-market companies.
- Livonia Partners: Baltic-focused private equity manager investing in mid-market companies across the region. Comparable geography, target deal size, and PE strategy to INVL's direct PE funds.
- Main Capital Partners: Dutch B2B software private equity manager and INVL's partner on the European Software PE Access Fund. Directly comparable in underlying fund strategy and as a B2B software-focused GP.
- Adams Street Partners: Global private equity manager operating a private equity secondaries platform that INVL distributes to Baltic investors via the Global PE Secondaries Access Fund. Comparable in fund strategy and LP-facing product structure.
Regional players
- MCI Capital: Polish private equity firm operating CEE digital economy and growth funds. Comparable as a CEE alternative asset manager serving informed investors, though primarily Poland-domiciled.
Broad incumbents
- EQT AB: Nordic-headquartered global alternative investment manager with private equity, infrastructure, and real estate strategies. Comparable as a multi-alternative platform, but operating at far larger scale with a global mandate.
- Partners Group: Swiss-listed global private markets manager offering PE, private debt, real estate, and infrastructure funds. Comparable as a multi-alternative platform, but at much larger AUM and global scale.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat6 records
Key risks6 records
Key highlights6 records
Customer concentration
INVL Asset Management social profiles
Digital presenceINVL Asset Management financial estimates
Financial estimateRevenue estimate
Valuation estimate
INVL Asset Management leadership team
Management profileNumber of profiles
Profiles12 records
INVL Asset Management subsidiaries and ownership
Company hierarchySubsidiaries12 records
INVL Asset Management funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
INVL Asset Management M&A and investment
M&A and investmentM&A2 records
Investments2 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about INVL Asset Management
What does INVL Asset Management do?
INVL Asset Management is a Baltic alternative asset manager that creates and manages a diversified platform of investment funds covering private equity, real assets (commercial real estate, timberland, renewable energy/solar, defence infrastructure), private debt, and feeder fund-of-funds vehicles. It distributes these funds and family office advisory services to high-net-worth families, informed investors, and institutional clients primarily through its wholly-owned subsidiary INVL Financial Advisors (operating as INVL Family Office) and through partner banks in Lithuania, Latvia, and Estonia.
Is INVL Asset Management a public or private company?
INVL Asset Management is a private company. It is classified as corporate owned and is currently operating.
When was INVL Asset Management founded?
INVL Asset Management was founded in 1991. It employs 101 to 250 people.
Where is INVL Asset Management based?
INVL Asset Management is headquartered in Vilnius, Lithuania, in the Europe region.
How does INVL Asset Management make money?
Three revenue lines are on record. Fund Management Fees are the primary driver. The others are performance Fees / Carried Interest and investment Advisory Services.
Who are INVL Asset Management's main competitors?
Direct peers on record are LHV Asset Management, SEB Investment Management, Swedbank Investment Management, BaltCap, Livonia Partners, Main Capital Partners and Adams Street Partners. MCI Capital is listed as a regional player. Broad incumbents are EQT AB and Partners Group.
Does INVL Asset Management have an API?
No public API is recorded for INVL Asset Management.
What industry is INVL Asset Management in?
INVL Asset Management's product category is Alternative Asset Management. Its primary akta.pro industry code is FSAAAMAK, Unit Registry & Transfer Agency for Alternatives (Private Funds, SPVs, Closed-End), with a secondary code of FSANAFAM, NAV-Based / Portfolio Finance (Liquidity for LPs/GPs). Its NAICS code is 523940 and its SIC code is 6282.