What does Siena Secondary Fund do?

Siena Secondary Fund is a venture capital fund managed by Siena Venture Partners OÜ, located in Tallinn, Estonia. The fund specializes in direct secondary investments, providing liquidity to founders, employees, and early investors of high-growth technology companies in the Nordics, Central and Eastern Europe, and the Baltic states. Established as a limited partnership, Siena focuses on secondary transactions in post-Series A companies with proven business models and significant revenues, typically exceeding €10 million. The fund targets innovative, technology-driven startups, facilitating liquidity for stakeholders and enabling reinvestment into the regional ecosystem. Siena Secondary Fund I includes a portfolio of notable companies such as Bolt, Oura Ring, and Booksy. Siena Secondary Fund II aims to raise €50 million, having already secured commitments from various investors, including the EBRD and Estonia’s SmartCap. The fund's investment strategy emphasizes acquiring equity stakes from existing shareholders in growth-stage tech firms, with a focus on sectors like technology, digital health, fintech, and enterprise software.