The IAM Petcare Growth Fund, managed by the investment management company 1 Asset Management, has made a EUR 10 million equity investment in LuxVet Group, which operates veterinary clinics in Poland and Romania. With this step, the fund contributes to the ambitious expansion of the veterinary clinic network across the Central and Eastern European region.

The transaction was completed in May 2025, and the funds will be used to support LuxVet Group’s growth strategy.

Based in Warsaw, LuxVet Group has been actively consolidating the Polish veterinary sector since 2022 and has already become the largest platform in the country. In 2023, the company entered the Romanian market, further strengthening its regional leadership. LuxVet’s goal is to create an international network of modern clinics and veterinary hospitals that ensures the highest standards of animal care and promotes professional development for veterinary specialists.

LuxVet Group, founded by Oaktree Capital Management and Cornerstone Investment Management, has recently secured new funding from Cheyne Strategic Value Credit, alongside other existing shareholders who increased their equity exposure.

IAM Petcare Growth Fund was launched in 2022, when the Baltic veterinary market was highly fragmented — most clinics operated independently and often lacked resources to invest in better equipment, staff training, or broader services. The fund’s mission is to address these challenges through strategic consolidation. By building a strong network of clinics, the fund’s team helps raise medical standards, improve customer experience, and create better working conditions for veterinary professionals.

“To date, we have consolidated 11 clinics in Lithuania, one in Estonia, and are currently opening a new clinic in Latvia. Joining LuxVet is a strategic step in the fund’s expansion into the Central and Eastern European region,” said Aurimas Martišauskas, partner at IAM Petcare Growth Fund.

“We are pleased to welcome IAM Petcare Growth Fund as our new partner at this important stage in LuxVet’s development. Their deep experience in the veterinary sector and strong regional perspective will help us accelerate our growth and expand our platform across Central and Eastern Europe,” said Piotr Zajączkowski, CEO of LuxVet Group.

The fund has already invested more than EUR 20 million into veterinary clinics.

The fund is managed by 1 Asset Management — an investment management company licensed by the Bank of Lithuania, providing services to institutional and private investors. The company focuses on niche asset classes and value creation strategies. In addition to veterinary clinics, it invests in modern student housing, historic and airport-adjacent hotels, forests, private debt in the Central and Eastern European region, and large-cap companies listed on US stock exchanges. Currently, the company manages over EUR 390 million in assets and serves more than 400 investors.