Molten Ventures PLC
LSE:GROW
Molten Ventures PLC
Molten Ventures Plc engages in the creation, funding, and development of technology businesses. The firm invests across four sectors: consumer technology, enterprise technology, hardware and deep tech, and digital health and wellness. The company seeks for companies operating in new markets, for global expansion, Internet Protocol (IP), technology, and management teams to deliver success. The company also looks for businesses to generate margins to ensure growth in markets. The Company’s core companies include Graphcore, UiPath, Trustpilot, Smava, Perkbox, M-Files, Ledger, RavenPack, Revolut, Aircall, Thought Machine, Sportpursuit, Aiven, Cazoo, Lyst, Endomag and Freetrade.
Molten Ventures Plc engages in the creation, funding, and development of technology businesses. The firm invests across four sectors: consumer technology, enterprise technology, hardware and deep tech, and digital health and wellness. The company seeks for companies operating in new markets, for global expansion, Internet Protocol (IP), technology, and management teams to deliver success. The company also looks for businesses to generate margins to ensure growth in markets. The Company’s core companies include Graphcore, UiPath, Trustpilot, Smava, Perkbox, M-Files, Ledger, RavenPack, Revolut, Aircall, Thought Machine, Sportpursuit, Aiven, Cazoo, Lyst, Endomag and Freetrade.
Strong NAV Growth: Net asset value (NAV) per share rose to 724p, up 8% from year-end, reflecting a 6% fair value increase in the portfolio.
Core Portfolio Strength: The core portfolio delivered notable uplifts, especially from names like Revolut, ICEYE, and Ledger, with commercial traction and profitability driving valuation increases.
Realizations & Buybacks: Realizations reached GBP 87 million year-to-date, supporting GBP 19 million of share buybacks, with a further GBP 10 million buyback extension announced.
Disciplined Cost Control: Operating costs were reduced by 8% year-on-year, and current costs are well below the 1% of NAV target.
Capital Deployment: GBP 33 million was deployed in H1, with a target of around GBP 100 million for the full year. Investment focus remains on Series A/B and selected secondaries.
Market Dynamics: Valuations for most Series A/B companies have remained stable, with elevated prices mainly limited to AI-related businesses.
Secondary Strategy: Continued investment in secondaries at discounts is generating additional value, with targets for exits typically within a three-year window.
Balance Sheet Strength: Cash position remains robust, giving flexibility to support future investments, buybacks, and strategic initiatives.
