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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

  • NRD Cyber Security continued to grow during the first half of 2026
    2026-10-02
    NRD Cyber Security continued to grow during the first half of 2026

    In the first half of 2026, revenue at NRD Cyber Security, a Lithuanian-owned cybersecurity consulting, services, and technology company, increased by 3.3 percent compared to the same period in 2025, reaching 6.2 million euros. Normalised EBITDA, which reflects operational efficiency, increased by 22 percent to 1.1 million euros compared to the first half of 2025….

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  • Enlight Research raises target share price for INVL Technology to EUR 5.11
    2026-09-01
    Enlight Research raises target share price for INVL Technology to EUR 5.11

    The independent investment research firm Enlight Research has updated its valuation of INVL Technology, a company that invests in information technology businesses, following the announcement of the company’s H1 2026 results. Taking into account the group’s strong financial growth and operating results, Enlight Research has increased its target share price for INVL Technology to EUR…

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  • Presentation of INVL Technology
    2026-08-24
    Presentation of INVL Technology

    INVL Technology announces a presentation that will be used for the meetings with investors. Additional information:  INVL Technology, a company that invests in IT businesses, earned an unaudited net profit of EUR 1.51 million in the first half of 2026, a 97% increase from the EUR 0.766 million profit in the same period last year….

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  • Announcement of the net asset value of INVL Technology as of 30 June 2026
    2026-08-24
    Announcement of the net asset value of INVL Technology as of 30 June 2026

    As provided in Section XI ‘Calculation of the Net Asset Value’ of the Articles of Association of INVL Technology, the net asset value of the Company was EUR 66,106,720 or EUR 5.5188 per share on 30 June 2026.

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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 2021-2025 its companies invested EUR 4.9 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 (2024-2028).
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
  • The term has been extended for a period of two years.
2028
2028
  • Exit

Contact Us

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

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