2X RETURN ON STACK BOLT POSITION SINCE OCTOBER 2021
TORONTO, January 17, 2022 /CNW/ – Stack Capital Group Inc., (“Stack Capital” or the “Company”) (TSX: STCK) (TSX: STCK.WT) is pleased to announce that Bolt Financial, Inc. (“Bolt”) , an existing portfolio, has successfully completed the first part of its Series E funding, raising US$355 million.
With the first round of Series E funding complete, Bolt’s position at Stack Capital has grown from US$6 million around 12 million US dollars since the initial investment in October 2021. This new valuation roughly doubles the book value of the Bolt position within the portfolio and marks a first win for Stack’s investment strategy.
“This represents a good start to our goal of increasing book value and compound capital for shareholders,” said Jason Meiers, CIO of Stack Capital. “We are very pleased with this announcement from Bolt and its impact on doubling the value of our investment in such a short time. We remain confident in the prospects for the business and believe the Bolt management team is on track for continued growth.”
To access a copy of Bolt’s announcement, please click here.
About Stack Capital
Stack Capital is an investment holding company and its business objective is to invest in stocks, debt securities and/or other securities of growth-stage or late-stage private companies. Through Stack Capital, shareholders have the opportunity to gain exposure to the diversified portfolio of private investments; 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 return through a portfolio of high-growth companies, which are not widely accessible to most Canadian investors. SC Partners Ltd. (the “Manager”) has taken the initiative in creating the Company and acts as the director of the Company and is responsible for research and advice in respect of all investments of the Company.
About Bolt Financial
Based at San Francisco, California, and a member of the Forbes Fintech 50 2021 list, Bolt is the world’s first federated one-click payment and solves the complex technology challenges of online transactions, fraud detection and digital wallets – making the checkout process fast. , safe and easy on any device. The Bolt Network enables any of its more than eleven million registered buyers to enjoy one-click payment on hundreds of existing merchants, whether or not a buyer has purchased from that merchant before, which is translates into a significantly higher sales conversion rate than a “guest” checkout.
SOURCE Stack Capital Group Inc.
For more information: Please visit our website at www.stackcapitalgroup.com or contact: Brian Viveiros, Vice President, Corporate Development and Investor Relations, 647.280.3307, [email protected]