The fund IAM Petcare Growth Fund, managed by the investment management company 1 Asset Management, is expanding its operations in the Baltic states and is entering the Latvian market for the first time. A new, modern DR. VET veterinary clinic has opened its doors in Riga, marking the fund’s first investment in this country.

The new clinic is located in a convenient area of Riga, on Krišjāņa Valdemāra Street. It has been designed to meet the highest standards of modern veterinary medicine, with particular emphasis on a low-stress environment and the emotional wellbeing of animals. The clinic is equipped with advanced diagnostic and treatment technologies, including the only therapeutic laser in Latvia used for the treatment of dermatological conditions and mesotherapy. The team consists of veterinary doctors of various specializations, including certified veterinarian Jevgenija Kondratjeva and Latvia’s leading advocate of the fear-free concept, Ksenija Polonska, who heads the new clinic.

“The Latvian market is currently much more fragmented compared to Lithuania. There are no large veterinary clinic networks or unified standards here – the market is dominated by individual clinics which, due to a lack of scale, are unable to invest in modern equipment, infrastructure, or professional development. In addition, Latvia has not yet attracted significant foreign investors, making it a natural environment for implementing the fund’s strategy: consolidating clinics, establishing new ones, acquiring existing practices, and thereby creating economies of scale. Our goal is to improve service quality – from upgrading clinic environments and introducing the most advanced technologies to supporting the professional growth of veterinarians,” says Aurimas Martišauskas, partner at „IAM Petcare Growth Fund“.

“Latvia is one of the largest still untapped veterinary markets in the region, so the opening of a new clinic in Riga is only the first step. In the near future, we plan to actively expand the DR. VET network both by opening new clinics and by cooperating with local practices that are helping to build a culture of modern veterinary care,” adds A. Martišauskas.

„IAM Petcare Growth Fund“ has been investing in veterinary clinics since 2022 and currently manages a portfolio of more than 80 clinics across Lithuania, Estonia, Latvia, Poland, and Romania. By the number of clinics under management, it is the largest investor in the veterinary sector in Central and Eastern Europe.

Having started its operations in Lithuania, the fund has made a significant contribution to the modernization of veterinary infrastructure in the country – from the 24/7 Lazdynai Animal Hospital in Vilnius and Lithuania’s first clinic established according to Fear Free standards in Kaunas, to the recently opened animal hospital in Klaipėda. Thanks to the fund’s investments, an intensive care center, an animal dentistry center, and the country’s first animal blood bank have been established. Investments by „IAM Petcare Growth Fund“ enable clinics to implement the most advanced technologies, strengthen team qualifications, and ensure the highest quality of medical care.