Molten Ventures is a London-based venture capital (VC) firm that invests in the European technology sector. It has a portfolio of c 70 investee companies and includes a range of funds (seed, EIS and VCT) within the group, as well as its flagship balance sheet VC fund.

After a strong run in 2021, the technology sector faced a challenging macroeconomic environment, which triggered market rotation towards value and out of growth (impacting valuations of listed high-growth tech companies). In Europe, Q223 VC deal volumes were €12.3bn from €30.5bn in Q222 (VC exit volumes fell to €0.9bn vs €15.0bn in Q222), according to PitchBook. At the same time, the market downturn is likely to create opportunities for long-term investors. Moreover, public equities (especially large-cap tech stocks) have rallied so far in 2023 and Molten remains cautiously optimistic.