Siena Secondary Fund makes a follow-up investment in Bolt, an Estonian unicorn

Estonian investment firm Siena Secondary Fund has made a follow-up investment in Bolt, and Estonian mobility unicorn. The capital will allow the company to continue support its growth.

• Founded in 2013 by Markus Villig in Tallinn, Bolt is a mobility company provising a ride-hailing platform, shared cars and scooters, and restaurant and grocery delivery. Bolt, a front runner in the transportation and ride-hailing industry, has garnered widespread recognition, especially across European and African countries.
• Bolt is Estonia’s fourth tech unicorn. In January 2022, the company raised $709 million from top investors like Sequoia, Fidelity, and D1 Capital during its Series F round. At that moment, its valuation reached almost $8.4 billion.

“We are excited to back again such an exceptional growth company like Bolt dedicated to making a meaningful impact on the world and reshaping the way people move within cities. This is our third investment in Bolt, which shows our conviction to Bolt`s mission and growth story ahead. As our main fund already has a substantial position in Bolt, we created an SPV side vehicle for our LPs to double down on Bolt. We are committed to providing such opportunities to our investors also in the future,”

Rando Rannus, General Partner of Siena Secondary Fund, said.

• Siena Secondary Fund was founded in early 2021. The firm focuses on secondary market transactions in high-growth late-stage startups by providing liquidity to early investors, (ex-) employees, and founders.
• The firm raised funds from over 80 investors, acquiring stakes in a few well-known scale-ups such as Bolt, Testlio, Starship Technologies, Veriff, Kry, TransferGo, Printify, Booksy, and Oura.
• The follow-up investment will support Bolt’s further growth and development.