INVL Bridge Finance, a private debt fund of Invalda INVL, the leading investment management group in the Baltics, will finance the expansion of the Civinity building maintenance and engineering solutions group in Latvia by purchasing EUR 5.7 million of the nominal value bond issue.
“By providing this financing, we are contributing to the growth and ambitious expansion plans of one of the largest building maintenance and engineering solutions groups in the Baltics. This investment adds a new regional sector leader to our fund’s portfolio,” says Viktorija Vaitkevičienė, the CEO of Mundus, the asset management company that manages the INVL Bridge Finance private debt fund.
According to Civinity CEO Virgeda Jackaitė, the company’s goal is to provide innovative and convenient services that meet the needs of today’s clients. It aspires to be a leader in its field, focusing on technological solutions that enable more efficient management of real estate and buildings and the creation of smart cities.
“Back in 2021 we announced that over the next 5 years we’d be investing up to EUR 15 million in startups. In 2022 we took a controlling stake in Valandinis, a freelance construction worker hub in Lithuania, and invested in the MELP employee engagement platform. Last year in Lithuania we also invested in Inbalance Grid, a startup creating charging solutions for electric vehicles. This year, we’re moving forward and investing a significant amount of money in Mobilly, which has already successfully established itself in the Latvian market,“ Jackaitė says.
INVL Bridge Finance, an open-ended fund for informed investors, seeks a stable long-term return by investing in private debt securities of companies in the fast-growing alternative finance sector and providing bridge financing for projects of various types.
Since its launch in 2015, the fund has completed 25 transactions and currently has 7 active investments in its portfolio. The private debt fund has provided financing for the development of renewable energy projects such as solar power plants in Romania and wind parks in Lithuania. The fund has also financed the expansion of parking, leasing and consumer lending companies, the acquisition of forest and agricultural land, business expansion abroad, and other projects.
At the end of June 2024, INVL Bridge Finance had assets under management of EUR 32.5 million.
INVL Asset Management owns 100% of the shares of Mundus.
About Invalda INVL group
Invalda INVL is the leading Baltic asset management group with a track record spanning over 30 years. Growing and developing with an open approach, it creates well-being for people through its work. The group’s companies manage EUR 1 billion of assets across multiple asset classes including private equity, forests and agricultural land, renewable energy, real estate as well as private debt. The group’s scope of activities also includes family office services in Lithuania, Latvia and Estonia, management of pension funds in Latvia, and investments in global third-party funds.
About the Civinity Group
Civinity is one of the biggest building maintenance and engineering solutions groups in the Baltics. It integrates more than 30 companies which maintain 10 million sq. m. of residential and commercial space and have installed hundreds of engineering systems in a variety of European cities. In 2023, Civinity employed 1,500 people in Lithuania, Latvia and the UK. It had revenue of EUR 87.7 million and EBITDA of EUR 7.12 million.
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