Siena Secondary Fund invests in Estonian cloud-based inventory software Katana

Estonian Siena Secondary Fund has acquired a stake in Tallinn-based cloud-based inventory software Katana. This investment is the first deal of the Siena Secondary Fund II, which announced about its coming launch in 2023. 

Founded in Tallinn in 2017 by Kristjan Vilosius, Hannes Kert, and Priit Kaasik, Katana develops software with built-in inventory, production, and reporting features to provide companies with an end-to-end inventory management solution for businesses and help them avoid stockouts or overstocks. The company's solution allows users to check and update inventory levels, assign batches and serial numbers, do stocktake, make stock adjustments and transfers, and others. In addition, it can track item expiration dates and maintain control of expiring stock, as well as centralize and monitor data from various sales channels in one place. The startup's solution integrates with accounting software Quickbooks and Xero. 

Investors in the Siena Secondary Fund II include Latvian Capitalia, London-based VC Isomer Capital, and some early employees, founders, and business angels of well-known scaleups from the Baltic region. The fund will target post-series A startups with growth and annual revenues of more than €10M. It will invest in startups from the New Nordic and CEE regions, and the average ticket per startup will range from €1M to €4M. The target size of the fund is €50M.

Founded in 2021 in Tallinn, Siena Secondary Fund provides liquidity for early investors, founders, and employees of growth startups. The founding partners of the fund are Rain Tamm and Lauri Isotamm. The general partner is Rando Rannus.