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NRD Cyber Security – a cybersecurity company
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Novian – a leading Baltic IT company
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NRD Companies – a global GovTech player
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News

  • Announcement of the unaudited net asset value of INVL Technology as of 31 December 2025
    2026-03-04
    Announcement of the unaudited net asset value of INVL Technology as of 31 December 2025

    As provided in Section XI ‘Calculation of the Net Asset Value’ of the Articles of Association of INVL Technology, the unaudited net asset value of the Company was EUR 64,624,072 or EUR 5.4013 per share on 31 December 2025. The Company‘s audited Net Asset Value will be reported together with the audited annual management report.

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  • Preliminary “INVL Technology” 2025 operating results
    2026-03-04
    Preliminary “INVL Technology” 2025 operating results

    As of 31 December 2025, according to preliminary data, the equity and net asset value of “INVL Technology” amounted to EUR 64.6 million – 26% more than a year ago – and their value per share was EUR 5.4. The unaudited net profit of the company for 2025 amounted to EUR 13.3 million. Reported financial…

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  • The new wording of the Articles of Association of INVL Technology was registered
    2026-02-17
    The new wording of the Articles of Association of INVL Technology was registered

    INVL Technology (hereinafter – “the Company“) informs that on 17 February 2026 a new wording of the Articles of Association of the Company was registered in the Register of Legal Entities. The new wording of the Articles of Association was approved on 5 February 2026 during the Extraordinary General Shareholders Meeting. According to the provisions of legal…

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  • INVL Technology shareholders approve extension of operational term by two years
    2026-02-05
    INVL Technology shareholders approve extension of operational term by two years

    INVL Technology, a company that invests in information technology businesses, announces that following strong shareholder support, a proposal to extend the company’s operational term by two years was approved at the Extraordinary General Meeting of Shareholders held on 5 February 2026. According to the resolution adopted at the extraordinary general meeting of shareholders, the Company’s…

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About Us

  • INVL Technology operates as a closed-end fund (CEF) which invests in and develops European IT businesses. The company is headquartered in Vilnius and is listed on the Nasdaq Vilnius stock exchange.
  • INVL Technology owns 3 company groups: Novian (a leading Baltic IT company), NRD Companies (a global GovTech company), and NRD Cyber Security (a cybersecurity company).
  • On 14 July 2016, the Bank of Lithuania granted INVL Technology a permit to operate as a CEF for 10 years with a possible extension for 2 more years. The company is managed by INVL Asset Management.
INVL Technology operates as a closed-end fund (CEF) which invests in and develops European IT businesses. The company is headquartered in Vilnius and is listed on the Nasdaq Vilnius stock exchange.
INVL Technology owns 3 company groups: Novian (a leading Baltic IT company), NRD Companies (a global GovTech company), and NRD Cyber Security (a cybersecurity company).
On 14 July 2016, the Bank of Lithuania granted INVL Technology a permit to operate as a CEF for 10 years with a possible extension for 2 more years. The company is managed by INVL Asset Management.
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Compliance

1
INVL Technology operates under a closed-end investment company permit issued in 2016 by the Bank of Lithuania, which is responsible for its supervision.
2
INVL Technology's accounting is in accordance with International Financial Reporting Standards (IFRS) as adopted by the European Union and, as an investment entity, it is subject to IFRS 10.
3
Each year, certified independent valuation professionals assess the value of INVL Technology's asset holdings. In 2022, the valuation was performed by Deloitte Verslo Konsultacijos.
4
The company's operations are audited annually. The 2022 audit was carried out by PwC.
5
The company’s shares are listed on the Nasdaq Vilnius (INC1L).
6
The companies that INVL Technology owns have a formal policy for selecting appropriate business partners.
7
INVL Technology is managed by INVL Asset Management.
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Value Creation

INVL Technology focuses on creating value through organic growth.
Aggregated revenue of companies managed by INVL Technology (thousands of euros)
R&D is a key priority for INVL Technology. In 2020-2024 its companies invested EUR 3.4 million in the development of proprietary products, software and methodologies.
Investment in R&D (millions of euros)

Legal Structure

Timeline

INVL Technology operational strategy is divided into 3 principal stages: investment period (2016-2021), value creation period (2021-2024), exit period (2024-2026) with an optional extension till 2028.
2015
2015
  • INVL Technology and BAIP Group merge and continue operations as INVL Technology.
  • INVL Technology raises 10 million euros in a public offering of new shares.
  • Norway Registers Development (now NRD Companies) acquires a majority stake in Etronika.
Investment period
2016
Investment period
2016
  • INVL Technology obtains permit and starts operating as a closed-end fund (CEF).
  • INVL Technology acquires Algoritmų Sistemos (now Novian Systems).
  • INVL Technology acquires Andmevara.
2019
2019
  • INVL Technology completes the formation of Novian.
  • Novian acquires Zissor.
2020
2020
  • INVL Technology completes the formation of NRD Companies.
Investment period
2021
Investment period
2021
  • A Novian group company acquires Elsis PRO.
Exit period
2024
Exit period
2024
  • Start of exit.
2026*
2026*
  • Exit
    * 2-year extension is possible.

Contact Us

Send us an email using the form below.
Send us an email using the form below.

    *By pressing “Send” you agree to the collection and processing of your personal data (email address and message contents) for the purpose of providing a response to your request. Under the Company’s privacy policy, this information will be stored until the request is resolved and for no longer than 2 years from its submission. You can always withdraw your consent by [email protected].