With the first stage of the Series E funding complete, the Bolt position within Stack Capital has increased from $6 million USD to approximately $12 million USD since the initial investment in October 2021. This new valuation roughly doubles the book value of the Bolt position within the portfolio and marks an early win for Stack's investment strategy.
"This represents a great start to our goal of increasing book value and compounding capital for shareholders," said Jason Meiers, CIO of Stack Capital. "We're very pleased with this announcement from Bolt and its impact in doubling the value of our investment in such a short period of time. We remain confident in the outlook for the business and believe that the leadership team at Bolt is on a path to delivering continued growth."
To access a copy of the Bolt announcement please click here.
About Stack Capital
Stack Capital is an investment holding company and its business objective is to invest in equity, debt and/or other securities of growth-to-late-stage private businesses. Through Stack Capital, shareholders have the opportunity to gain exposure to the diversified private investment portfolio; participate in the private market; and have liquidity due to the listing of the Common Shares and Warrants on the TSX. At the same time, the public structure also allows the Company to focus its efforts on maximizing long-term performance through a portfolio of high growth businesses, which are not widely available to most Canadian investors. SC Partners Ltd. (the "Manager") has taken the initiative in creating the Company and acts as the Company's administrator and is responsible to source and advise with respect to all investments for the Company.
About Bolt Financial
Headquartered in San Francisco, California, and a member of the 2021 Forbes Fintech 50 list, Bolt is the world's first federated One-Click checkout and solves the complicated technological challenges involved with online transactions, fraud detection, and digital wallets - making the checkout process fast, safe, and easy on any device. The Bolt network allows any of its over eleven million registered shoppers to benefit from One-Click checkout across hundreds of existing merchants, regardless of whether a shopper has purchased from that merchant before, resulting in a sales conversion rate that is significantly higher than that of a 'guest' checkout.