par Molten Ventures Plc (isin : GB00BY7QYJ50)
Half year trading update and notice of results
Molten Ventures Plc (GROW; GRW) Molten Ventures plc ("Molten Ventures", "Molten", or the "Company")
Half year trading update and notice of results
Continued portfolio resilience
Molten Ventures (LSE: GROW, Euronext Dublin: GRW), a leading venture capital firm investing in and developing high-growth digital technology businesses, today announces an update on its portfolio and NAV (unaudited) ahead of its interim results for the period ended 30 September 2023, due to be announced on 22 November 2023.
Highlights:
Portfolio performance and fair value movements:
Cash resources and investment cadence:
Strategic and operational review
Overall Molten’s portfolio remains well-funded, and due to its resilience and our focus on cash preservation in the period, we continue to anticipate follow-on funding to be in line with the guidance previously provided in June. During the past six months, we continued to see extended deal timelines with fundraising, exits and new investments taking longer to complete due to increased levels of due diligence.
Molten continues to respond adeptly to this challenging market environment. Having built our platform to invest for the long-term and throughout the cycle, the depth of experience across our management and investment teams allows us to take an active approach to portfolio management as we respond to these more challenging times. Our consistent approach to valuations and to diverse portfolio construction (both in terms of the sectors and stages we invest in) has enabled Molten to remain resilient. In the period, Molten has also continued to build out its team and its third-party assets strategy, which is an increasingly important part of our business. In September, we appointed Lara Naqushbandi as a non-executive director, bringing further expertise to our Board. In July we announced the launch of our Irish Fund, alongside the Ireland Strategic Investment Fund (“ISIF”), to back high growth technology companies whose core activities, management and expertise are in Ireland. Molten has a long history in Ireland, and this co-investment capital gives us an opportunity to build on that heritage in a risk-adjusted fashion. We are also committed to developing our Fund of Funds programme following its successful first close and syndication last year.
Martin Davis, Chief Executive Officer of Molten Ventures, commented: “Our portfolio continues to perform resiliently against challenging market conditions for disruptive, high-growth technology companies and those who invest in them.
While macroeconomic uncertainties continue to weigh on the environment for realisations, we’re now beginning to see the fundraising market becoming more aligned to the new realities. Our focus for both Molten and our portfolio is on disciplined capital allocation, positioning ourselves to capture exceptional opportunities as the valuation environment stabilises”.
Notice of Interim Results:
Molten Ventures announces that the Company’s Interim Results are scheduled for release on 22 November 2023. Presentation and conference call details will be confirmed in due course.
-ENDS-
Enquiries:
About Molten Ventures
Molten Ventures is a leading venture capital firm in Europe, developing and investing in disruptive, high growth technology companies. We inject visionary companies with energy to help them transform and grow. This energy comes in many forms - capital, of course, but also knowledge, experience, and relationships. We believe it is our role to support the entrepreneurs who will invent the future, and that future is being built, today, in Europe.
As at 30 September 2023, Molten Ventures had a diverse portfolio with shareholdings in 74 companies, 17 of which represent our core portfolio holdings and account for 62% of the Gross Portfolio Value. Our core companies include Thought Machine, Coachhub, Form3, Aiven, Ledger and Aircall. We invest across four sectors: Enterprise Technology, Hardware and Deeptech, Consumer Technology, and Digital Health and Wellness, with highly experienced partners constantly looking for new opportunities in each. We look for high-growth companies operating in new markets, with aspirations for global expansion, strong IP, powerful technology, and strong management teams to deliver success. We also look for businesses with the potential to generate strong margins to ensure rapid, sustainable growth in substantial addressable markets.
Molten Ventures provides a unique opportunity for public market investors to access these fast-growing tech businesses, without having to commit to long term investments with limited liquidity. Since our IPO in June 2016, we have deployed over £1bn capital into fast growing tech companies and have realised over £520m to 30 September 2023.
For more information, go to https://www.moltenventures.com/ Dissemination of a Regulatory Announcement, transmitted by EQS Group. The issuer is solely responsible for the content of this announcement. |
ISIN: | GB00BY7QYJ50 |
Category Code: | TST |
TIDM: | GROW; GRW |
LEI Code: | 213800IPCR3SAYJWSW10 |
OAM Categories: | 3.1. Additional regulated information required to be disclosed under the laws of a Member State |
Sequence No.: | 283954 |
EQS News ID: | 1770103 |
End of Announcement | EQS News Service |