Molten Ventures

Overview
Price performance
Financials
Research
Thematics

Molten Ventures is a London-based VC firm that invests in the European technology sector. It has a portfolio of 118 investee companies and includes a range of funds (seed, EIS and VCT) within the group, as well as its flagship balance sheet VC fund.

There are some tentative signs of a revival in the broader IPO and private M&A markets. European venture capital deal value increased by 9% y-o-y to €15.8bn in Q224 (although deal count was down c 33% y-o-y), according to PitchBook. The Q224 figure is still 47% lower than the Q222 level, hence activity remains modest for the time being.

Latest Insights

Investment Companies |
Flash note

26.07.24

Molten Ventures — Making progress on its realisation agenda

Investment Companies |
Update

25.06.24

Molten Ventures — Green shoots of recovery

edison tv

19.06.24

Edison Growth Conference panel – Disruptive technology and AI

Investment Companies |
audiovisual

20.05.24

Molten Ventures in 60 seconds

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Sector

Financials

Equity Analyst

Milosz Papst

Director, Financials

Key Management

Ben Wilkinson

CFO
Martin Davis

CEO

Balance Sheet

Forecast net debt (£m)

N/A

Forecast gearing ratio (%)

N/A

Share Price Performance

Price Performance
%	1M	3M	12M
Actual	13.3	22.4	68.1
Relative	12.8	22.4	52.6
52 week high/low	425.0p/208.8p

Financials

Molten Ventures saw a stabilisation and recovery in portfolio valuations in H224 (to end-March 2024). It indicated that the recent secondary shares sale announced by Revolut translates into a £95m uplift (before deductions) to the £65m last gross carrying value of Molten’s stake. Molten recently announced exits from Perkbox, Endomag, Graphcore and M-Files, with total proceeds of £124m (or c 9% of gross portfolio value). Its updated capital allocation policy assumes a focus on attractively priced primary and secondary investments (with an emphasis on the latter), as well as a minimum of 10% of realisation proceeds earmarked for share buybacks.