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 19% y-o-y to €16.3bn in Q124 (though deal count was down c 46% y-o-y, based on PitchBook data as at end-March 2024), assisted by the €4.75bn megadeal of the cleantech business H2 Green Steel in January 2024. The Q124 figure is still 54% lower than the Q122 level; hence, activity remains modest for the time being.

Latest Insights

Investment Companies |
Update

25.06.24

Molten Ventures — Green shoots of recovery

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19.06.24

Edison Growth Conference panel – Disruptive technology and AI

Investment Companies |
audiovisual

20.05.24

Molten Ventures in 60 seconds

Financials |
Update

02.05.24

Molten Ventures — Forward Partners deal completed

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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	13.7	60.5	60.9
Relative	15.1	54.9	45.4
52 week high/low	424.5p/208.8p

Financials

Molten Ventures saw a stabilisation and recovery in portfolio valuations in H224, as well as a pick-up in realisation processes, with two agreed exits (Endomag and Perkbox) at valuations modestly above last carrying values. Consequently, management now expects around £100m of realisation proceeds in FY25 (to end-March 2025). 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.