VC leading Bolt’s hoped-for $450M deal confirms he’s offering ‘marketing credits’

Ashesh Shah, Founder and CEO of The London Fund, is spearheading a $450 million fundraising initiative for Bolt, a one-click checkout startup, despite its past controversies. The London Fund, with over $1 billion in cash and assets under management, is leading this raise, with Shah describing the deal as a significant opportunity that showcases Bolt's extensive user reach and potential for further growth.

Central to this transaction is a $250 million investment from Shah's firm, which includes marketing credits like those seen in deals between OpenAI and Microsoft. These credits involve influencers and media partners, aligning with Bolt's current marketing expenditures, which total around $80 million. Shah emphasizes that this strategic deployment will have a tangible impact, as his fund avoids traditional fees, ensuring alignment with investment outcomes.

Shah also discusses the importance of Ryan Breslow returning as Bolt's CEO, highlighting his vision and ability to rapidly grow the company. Shah hopes existing shareholders recognize the value of the proposed transaction for future returns. The success of this deal hinges on cooperative shareholder commitment, which Shah believes is crucial for Bolt's continued expansion and innovation.