As Moldova pursues EU membership, the European Commission and INVL launch initiative to establish a private equity fund

The European Commission and INVL Asset Management (INVL), a leading Baltic alternative asset manager, have signed a Letter of Intent to establish a private equity fund in Moldova. The fund would invest in infrastructure vital to the Moldovan economy and in growing local companies, aiming to strengthen the country’s economic resilience and accelerate its integration with the European Union.

According to the Letter of Intent signed in Chisinau, the European Commission, recognizing the significant impact of INVL’s investment in the Moldovan banking sector to date, will explore whether and how its financial and non-financial toolbox could support the further preparation and development of the fund initiative.

“The successful investment by our group in maib, the country’s largest commercial bank, is proof that we can contribute to positive change in the Moldovan economy. Moldova is at a crucial turning point on its path to the EU, and it is precisely now that private equity can have the greatest impact. Together with the European Commission, we want to demonstrate that long-term investment in the country’s infrastructure and companies is not only possible but also attractive,” says Andrius Načajus, CEO of INVL Asset Management.

The Letter of Intent outlines that the fund’s investments would be directed towards two main areas. The first would cover essential infrastructure projects that are important for Moldova’s integration with the EU single market, such as in logistics and energy security. The second area would be investments in established, high-growth-potential local companies. By instilling best practices in corporate governance, the aim would be to enhance the competitiveness and sustainability of these companies.

The Invalda INVL group, to which INVL belongs, became a shareholder in maib, Moldova’s largest commercial bank, in 2018, alongside the European Bank for Reconstruction and Development (EBRD) and Horizon Capital. Since 2018, maib’s assets have tripled, and its loan portfolio has grown fourfold. The bank’s corporate governance has been strengthened, transparency and accountability policies have been implemented, and its business model has been fundamentally renewed. A strong focus has been placed on digitalisation, with most retail operations moved to digital channels, agile working methods introduced, and a customer-centric organisational culture created. All these changes have helped the bank become a modern and reliable leader in Moldova’s financial sector.

Further information:
Andrius Načajus, CEO of INVL Asset Management
Andrius.Nacajus@invl.com