EBRD Backs Estonia-Based Fund To Boost Innovation In Baltics, Central Europe
Targeting 50 million euros in total commitments, the fund will back innovative, technology-driven companies across the Baltic states and central and eastern Europe. Its focus will be on post-Series A businesses with proven models and significant revenues.
Siena Secondary Fund II will purchase shares from existing stakeholders - including company founders, employees, and early investors - providing them with liquidity while allowing mature but unlisted technology firms to streamline ownership. The released capital can then be reinvested into other ventures, further fueling the local early-stage tech ecosystem.
By targeting secondary market transactions, the fund aims to strengthen the regional innovation ecosystem and foster a more dynamic venture capital market. While the venture secondaries market is still emerging in both the Baltics and central and eastern Europe, its development is seen as critical for sustainable long-term growth.
The EBRD remains a major investor in the region, with more than 36 billion euros invested to date across nine countries.

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