INVL Private Equity Fund II

Experience

Founder of Invalda INVL; Chairman of the Management Board of Invalda INVL

Founding partner of Invalda INVL with over 30 years of experience in private equity and operational management. Has served on the boards of 30+ companies. He has been pioneering investments in the Baltic securities market since 1991. Together with Invalda INVL local and international investment partners, implemented acquisitions and sales of companies, capital raising deals with a total value of over EUR 2 billion.

Education

Holds Master’s degree in Engineering and Economics from Vilnius Gediminas Technical University, Lithuania.

Darius Šulnis is the CEO and one of the shareholders of Invalda INVL, the leading Baltic asset management group. He also serves as Chairman of INVL Asset Management, Managing Partner and Investment Committee member at the leading private equity fund INVL Baltic Sea Growth Fund, and holds management and supervisory board positions in several other companies.

With over 30 years of experience in establishing and managing successful businesses and investments across Lithuania and the CEE region, Darius has gained deep expertise in business development and growth, M&A, investment attraction, and collaborating with entrepreneurs, as well as strategic and financial investors.

Darius began his career at Finasta, a one-man financial brokerage company, where he played a pivotal role in its growth into one of Lithuania's largest and fastest-growing financial brokerage firms. He later took an active operational roles in executive management positions in a number of other companies before assuming the leadership of Invalda INVL.

Throughout his career, Darius has also served on the supervisory councils and boards of numerous companies across Poland, Latvia, and Lithuania, contributing his expertise to the growth and success of these organizations.

He holds a Master’s degree in Accounting and Audit from Vilnius University and earned a Global Executive MBA from Duke University.

Experience

Over 15 years of experience in private equity and M&A

Former Associate Partner at TGS Baltic

Has started her career as a lawyer specialising in private equity and M&A. From 2004 until 2010 was working at Hermis Capital, one of the first private equity firms in Lithuania. Since 2010 until joining Invalda INVL group in 2017 was an Associate Partner with one of the leading pan-Baltic law firms – TGS Baltic – where she co-led the M&A practice. Advised local and international clients on 40+ deals with the combined value of c. EUR 2 billion.

Education

Baltic Management Institute together with Vytautas Magnus University (Lithuania) EMBA. Holds LL.M in International Legal Practice from the University of Law, UK and Master of Law degree from Vilnius University, Lithuania.

Experience

Over 15 years of experience in private equity and M&A

Managing Partner & CIO at Surya Capital; Former Partner at CVCI Private Equity (Citigroup’s global emerging markets’s private equity division); Former head of private equity at SGRF (Sovereign Wealth Fund of Oman)

Started his career in 1996 at PwC in London. Started his investment career with Societe Generale Asset Management in 2000, when he first got involved with the Baltic States and in 2001 joined CVCI, eventually becoming one of two partners based in London and co-heading the firm’s efforts in the CEE region. During his tenure with CVCI, Ashwin was the lead or second transactor on 14 deals, deploying c. USD 735 million of direct private equity investments across a variety of deal types and sectors, primarily in CEE. From 2013 to 2015, he served as the Director of Private Equity at SGRF, the main Sovereign Wealth Fund of the Sultanate of Oman. Since 2016 he is the Managing Partner and Chief Investment Officer at Surya Capital, an East Africa-focused investment firm.

Ashwin and Invalda INVL team met in 2006 when CVCI co-invested with Invalda INVL in specialty pharmaceuticals company Sanitas. This was a very strong partnership over 5 years until the very successful exit in 2011.

Education

Holds MA (Hons) (First Class) in Economics from King’s College, University of Cambridge, UK, and is a Fellow of the Institute of Chartered Accountants in England & Wales.

Experience

Over 15 years of experience in private equity and M&A

Former CFO at specialty pharmaceuticals company Sanitas. Member of the boards of more than 10 companies

Nerijus started as an auditor at Arthur Andersen in 1998 working on both audit and M&A assignments. As from 2001, he spent over 15 years in operational positions being responsible for setting up processes, financial and organizational management, investment appraisal, in addition to leading acquisitions. Since 2007 through to exit in 2011 was CFO at specialty pharmaceuticals company Sanitas. Spent 4 years advising various companies until re-joining Invalda INVL group in 2015. Nerijus Drobavičius has served on the boards of 10+ portfolio companies.

Education

Holds BA degree in Business and Administration and an MBA in Banking and Finance from Vytautas Magnus University, Lithuania.

Over 20 years of experience in private equity and M&A 

Vytautas Plunksnis is the member of the Board and the Head of Private Equity at INVL Asset Management. He also serves as a Partner and Investment Committee member at INVL Baltic Sea Growth Fund and INVL Technology. He holds management and/or supervisory board positions in several portfolio companies  located in Lithuania, Latvia, Poland, Norway, and Moldova. Vytautas is the Chairman of the Supervisory Board of Maib, a leading bank in the Moldovan banking market. Additionally, he is the founder and Chairman of the Management Board of the Investors Association (Investuotojų asociacija). 

Vytautas has over 20 years of experience working in the Baltic private equity and capital markets, investing in Central Eastern Europe, and handling M&A transactions. He has led investment projects from raising capital, deploying it, supervising portfolio companies, and helping them expand organically and via M&A until exit. 

He started his career in 1999, working as a financial analyst at the first financial brokerage company  Jūsų tarpininkas in Lithuania.  

Since 2006, Vytautas become an analyst and fund manager at Finasta Asset Management. From 2009 to 2016, he worked as an investment manager at Invalda INVL, and since 2016, he has been the Head of Private Equity and a member of the board at INVL Asset Management. 

Education 

Vytautas holds a Bachelor of Business Administration at Kaunas University of Technology (Lithuania).  

Experience

Over 23 years of experience in private equity and M&A.

Former Director at The Rohatyn Group and former Vice President at CVCI Private Equity.

Education

London Bussines School MBA graduate

Experience

Over 15 years of experience in private equity and M&A

Former Investment Director at BaltCap

Sandra started her career in M&A and corporate finance in 2006 at a leading Scandinavian bank.

In 2010 she joined a local private equity boutique acting as the local advisor to international funds executing transactions in the Baltics.

In 2013 Sandra joined Deloitte as a manager leading valuation, due diligence and M&A advisory services to clients in various industries. Since 2016 she has held the role of investment director at a major private equity fund manager, focusing on buy-out and growth investments in the Baltics and holding supervisory board positions.

In 2024 Sandra joined INVL Asset Management and is leading private equity investments in Latvia.

Education

Holds a Msc degree in Business and Economics from the Stockholm School of Economics (Sweden) and a Bsc degree from the Stockholm School of Economics in Riga.

She is a CFA Charterholder since 2010 and holds Board Member Education Certificate from the Baltic Institute of Corporate Governance.

Over 7 years of experience in private equity and M&A

Former investment manager at ME Investicija, UAB

Experience

In 2015 started his career in INVL Asset Management as a junior Private Equity analyst and since 2017 took positions of financial analyst and junior portfolio manager. Since 2018 through 2022 worked as an investment manager in ME Investicija (holding company of Girteka Logistics). Since 2022 re-joined Invalda INVL group taking position as a senior associate.

Holds a Bachelor’s degree in Physics from Vilnius University, Lithuania.

Education

Vilniaus Universiteto Fizikos bakalauras.

Experience

Over 5 years of experience in private equity and M&A.

Joined Invalda INVL group as a junior analyst after graduating in 2019.

Education

Holds a degree of Bachelor of Science in Economics, Politics and International Studies from University of Warwick.

Experience

Over 5 years of experience in private equity and M&A

London Business School graduate

In 2015 started his career as a strategy consultant at Civitta until 2018. In 2019 joined The Rohatyn Group private equity team in London, UK as an intern. In 2020 joined Invalda INVL group, taking the position of a private equity analyst.

Education

Holds a Master of Finance (MiF) degree from the London Business School (LBS), UK, and a Bachelor of Science (BSc) degree from Rotterdam School of Management (RSM), The Netherlands.

Experience

Over 7 years of experience in private equity and M&A

With over 7 years of experience in Corporate Finance and Private Equity. In 2014 joined Vičiūnai Group as a Financial Analyst. From 2018 to 2022 worked as an Investment Project Manager at Orion Asset Management. In 2023 took on the role of Head of Finance at Vet Ventures.

Education

Holds a Bachelor's degree in Economics from the Kaunas University of Technology.

Experience

Over 6 years of experience in M&A and started private equity experience in 2024

Started his career in 2018 as an analyst in a management consulting company Vendos. In 2019 in parallel started working in a corporate finance advisory firm Aalto Capital, specializing in capital raising and M&A. Continued working in both Vendos and Aalto Capital as a project manager and associate during the years 2020-2024. Holds a Bachelor's degree in Economics and Business from Stockholm School of Economics in Riga.

Education

Stockholm School graduate

Joined INVL Baltic Sea Growth Fund team in 2021.

Current BA student of Economics at Vilnius University.

Joined INVL Baltic Sea Growth Fund team in 2024

ISM University of Management and Economics graduate

Holds Bachelor's degree of Economics and Politics from ISM University of Management and Economics, Lithuania

Joined INVL Baltic Sea Growth Fund team in 2023.

Joined Invalda INVL group after a successful completion of Summer Internship programme.

Current student at Vilnius TECH University

Joined INVL Baltic Sea Growth Fund team in 2023.

Former executive assistant at Willgrow UAB (holding company of Girteka Group).

Holds a Bachelor’s degree in Accounting from University of Aberdeen, Scotland.

Joined INVL Baltic Sea Growth Fund team in 2023.

Holds a Bachelor's degree of International Business from Vilnius University Business School in Lithuania and Bachelor's degree of Pedagogy from Mykolo Romerio University in Lithuania