Isomer Capital joins as its first institutional investor in Siena Secondary Fund
Photo: Rando Rannus (Siena Secondary Fund) and Chris Wade (Isomer Capital)
Siena Secondary Fund, an Estonia-based fund focused solely on VC direct secondaries announces that Isomer Capital, a leading pan-European fund of funds, has become the first institutional investor. Siena purchases existing shares in high-growth later-stage startups from the “New Nordics” region, providing liquidity to early investors, (ex-)employees, and Founders.
“We like to support emerging European VCs as they develop new verticals and niche strategies which are additive to the ecosystem. The secondary market in Europe lags behind the US, and we believe that there is a great opportunity to address this. As companies stay private for longer, the need for liquidity increases over time. Siena`s team has the will and vision to fill the gap in the market” said Chris Wade, partner at Isomer.
“In developed markets secondary transactions account for 2-5% of the total market cap of startups. In Europe we are still far behind this figure, but with Isomer`s support, we can work to improve liquidity options for VC-backed companies” added Rando Rannus, partner at Siena Secondary Fund.
Isomer Capital is a private investment firm focused exclusively on European venture capital. Isomer backs technology-enabled entrepreneurs across Europe through primary and secondary investments in venture capital funds and company co-investments. It has been backed by British Business Investments and tens of other investors across the globe.
Siena Secondary Fund is backed by 80+ investors across Europe and has acquired stakes in several well-known start-ups such as Bolt, Testlio, Starship Technologies, Veriff, Kry, Printify, and TransferGo.
Additional information:Isomer Capital
www.isomercapital.com
Chris Wade
Co-Founder & Partner
cw@isomercapital.com
Siena Secondary Fund
www.siena2ndary.com
Rando Rannus
General Partner
rando.rannus@siena.ee
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Cover page photo: Jordan Heath / Unsplash