Search
Search
Who we are
Overview: about the EBRDWho we are
Overview: about the EBRD
Our story
Learn about the EBRD's journey to investing more than €220 billion in over 7,800 projects.
- Our background and history
- Our organisation
- Our values
- Strategies, governance and compliance
- Project accountability
What we do
Overview: how the EBRD operatesWhat we do
Overview: how the EBRD operates
How we deliver systemic impact
Across three continents, the EBRD supports the transition to successful market economies.
- Where we work
- Products and services
- Sectors we work in
- Our projects
- Focus areas and initiatives
- Economic research
Work with us
Overview: how you can work with the EBRDWork with us
Overview: how you can work with the EBRD
What we offer for businesses
We draw on three decades of regional knowledge and financial expertise to tailor our products and approaches to each client's needs.
- Businesses
- Investors
- Donors
- Researchers
- Civil Society
- Alumni
- Nominee Directors
- Trade finance
- Careers
Light
Eng
Eng
- EBRD invests €10 million in Siena Secondary Fund II
- Fund will invest in technology-driven companies in the Baltic states and central and eastern Europe
- Investment supports growth of nascent venture capital secondaries market
The European Bank for Reconstruction and Development (EBRD) has invested €10 million in Siena Secondary Fund II, a new fund managed by Siena Venture Partners, a leading private equity manager based in Estonia.
The fund, which targets €50 million of total commitments, will invest in innovative and technology-driven companies in the Baltic states and central and eastern Europe, namely those in post-Series A stage, with proven business models and significant revenues.
The fund will acquire shares from existing shareholders (such as company founders, employees and early investors), enabling them to monetise their interests in mature but unlisted technology companies.
Secondary market transactions, such as those targeted by Siena, provide much-needed liquidity to key stakeholders in the market, streamline the shareholding of the investee companies, and unlock capital which can then be re-invested in other companies in the local market, ultimately driving the growth of the early-stage technology ecosystem in the region.
The venture capital secondaries market is at a nascent stage, both in the Baltic states and in central and eastern Europe. Its growth will be important for the further development of a well-functioning venture capital market and the broader innovation ecosystem in the region.
The EBRD is a major investor in the Baltic states and central and eastern Europe. To date it has invested €36 billion in the 9 countries in the region.