18 April 2017 an Advisory Committee for INVL Technology, a company that invests in IT businesses, has been appointed by the board of INVL Asset Management, its management company.

The Advisory Committee of INVL Technology is composed of Invalda INVL board members Alvydas Banys and Indrė Mišeikytė, Lietuvos Draudimas’s Investment Director for the Baltic countries Gintaras Rutkauskas, and one of the owners of the E-energija group of companies Virginijus Strioga.

Additional information:

An Advisory Committee for INVL Technology, a company that invests in IT businesses, has been appointed by the board of INVL Asset Management, its management company.

The Advisory Committee of the closed-end investment company INVL Technology is composed of Invalda INVL board members Alvydas Banys and Indrė Mišeikytė, Lietuvos Draudimas’s Investment Director for the Baltic countries Gintaras Rutkauskas, and one of the owners of the E-energija group of companies Virginijus Strioga.

“INVL Technology currently aims to form the right portfolio of business holdings and development strategy, so the Advisory Committee’s experts, together with the Investment Committee, will play an important role in developing the company’s operations,” said Darius Šulnis, the CEO of INVL Asset Management.

As the Rules of the Advisory Committee foresee, it comprises outside experts and representatives of the shareholders. The committee’s purpose is to advise the Investment Committee of INVL Technology on investment decisions by providing reasoned opinions and expressing an independent position, thereby ensuring and protecting shareholders’ interests.

The new committee will seek to objectively assess proposals for the purchase and sale of investment objects by INVL Technology as well as for increases and decreases of their share capital and other decisions directly related to their capital. It will also make proposals for new investment ideas and improving management processes at the company.

The Investment Committee for INVL Technology, active since mid-2016, is composed of its chairman Kazimieras Tonkūnas, who is Managing Partner for INVL Technology at INVL Asset Management, as well as Vytautas Plunksnis, Vida Juozapavičienė and Nerijus Drobavičius, all of whom work at INVL Asset Management and participate in the operations of multiple businesses owned by INVL Technology.

INVL Technology invests in and develops IT businesses based in European countries which have the potential to become global players. In seeking to transform them into global businesses, the company takes advantage of the access to markets and the intellectual capital of the other businesses it owns. INVL Technology’s goal is, after boosting the value of its business holdings, to sell them profitably and thus generate a significant return for investors.

Currently INVL Technology has invested in the Norwegian company Norway Registers Development AS with its subsidiaries NRD UAB and ETRONIKA UAB in Lithuania, Norway Registers Development East Africa Ltd in Tanzania, Norway Registers Development Rwanda Ltd in Rwanda, NRD Bangladesh Ltd in Bangladesh, and the associated company Infobank Uganda Ltd in Uganda. It has also invested in BAIP UAB with its subsidiary ACENA UAB as well as NRD CS UAB and ALGORITMU SISTEMOS UAB, all in Lithuania, and Estonia’s Andmevara AS with its subsidiary Andmevara SRL in Moldova.

On its receipt of a closed-end investment company license in July 2016, INVL Technology’s management was assumed by INVL Asset Management – a part of Invalda INVL, one of the leading asset management groups in the Baltics. INVL Technology will operate until 14 July 2026.

The person authorized to provide additional information:

Kazimieras Tonkūnas
INVL Technology Managing Partner
e-mail [email protected]