INVL Baltic Sea Growth Fund, the leading private equity fund in the Baltic States, has increased the investment in the veterinary care through its portfolio company MiniVet, by acquiring DiVet, a veterinary clinic based in Vilnius. This is the fund’s second investment in building a network of veterinary clinics in Lithuania.
“The DiVet veterinary clinic, based in the capital city’s Antakalnis district, already has extensive experience and a wide range of loyal customers. Having become part of the MiniVet network, DiVet will be able to offer an even wider range of services to customers and their pets, while the professionals working in the clinic will continue to ensure the provision of the highest level of veterinary services,” says Lina Gaižutienė, director and veterinarian of MiniVet.
100% of Divetos veterinarija’s shares were sold by founder and director Diana Suchocka who will remain in the company as head of clinic and practising vet doctor after the transaction.
“We join a network with a strong investor backing, and this opens more growth prospects for the clinic, creates favourable conditions to strengthen its position in the market. The clinic staff will continue catering to the needs of the pets as much as possible,” says Suchocka.
Established in 2017, the veterinary clinic specialises in diagnostics and treatment of internal diseases, oncology, dentistry, dermatology, surgery, traumatology, neurology, parasitology, and microbiology. The clinic also provides ultrasounds, animal chipping, blood and urine tests, histology, cytology, and oxygen therapy.
In addition to the DiVet clinic in Antakalnis, MiniVet also owns two veterinary clinics operating in Vilnius’ Lazdynėliai and Pilaitė districts. The MiniVet clinics in Lazdynėliai and Pilaitė provide a wide range of veterinary care services and offer also veterinary pharmacies and animal food products as well as have their own e-shop.
INVL Baltic Sea Growth Fund has already invested in seven companies active in the fields of health care services, rehabilitation services, engineering, environmental management (plastic processing and waste collection), veterinary services, and the production of cosmetics and hygiene products. The Fund is managed by INVL, a leading investment management and life insurance group in the Baltics.
About INVL Baltic Sea Growth Fund
With a size of EUR 165 million, the INVL Baltic Sea Growth Fund is a leading equity fund in the Baltics. The European Investment Fund (“EIF”) is its anchor investor.
The EIF, which is a part of the European Investment Bank, has committed EUR 30 million with the support of the European Fund for Strategic Investments (a key element of the Investment Plan for Europe, or ‘Junker Plan’) whilst also allocating resources from the Baltic Innovation Fund, a “fund of funds” initiative developed in cooperation with the governments of Lithuania, Latvia and Estonia. The initiative aims to increase capital investment in high-growth potential small and medium-sized enterprises in the Baltics.
The fund seeks to assemble a diversified portfolio of companies, targeting majority or significant minority stakes through investments ranging from of EUR 10 million to EUR 30 million. These companies must demonstrate high growth potential and an ability to succeed in conditions of increasing global competition and market volatility.
The fund is focused on the Baltic countries and neighbouring regions including Poland, the Nordics, and Central Europe. The fund has invested in seven companies to date, focusing on sectors including healthcare, medical rehabilitation, civil engineering, environmental management (plastic recycling and waste management), veterinary services, and the manufacturing of cosmetics and hygiene products.
The fund is managed by INVL, the leading Baltic investment management and life insurance group. The group’s companies manage pension and mutual funds, life insurance directions, individual portfolios, private equity as well as other alternative investments. More than 300,000 clients in Lithuania, Latvia and Estonia plus international investors have entrusted the group with the management of over EUR 2 billion of assets. With a track record spanning 30 years, the group has strong expertise and experience in managing private equity assets and building true market players that are leaders in their respective fields in the Baltic countries and across Central and Eastern Europe.