2X RETURN ON STACK'S BOLT POSITION SINCE
OCTOBER 2021
TORONTO, Jan. 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 holding, has successfully completed the first part of its
Series E funding, raising $355 million
USD.
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.
SOURCE Stack Capital Group Inc.
