Molten Ventures PLC Investment Update
18 May 2022 - 6:43PM
RNS Non-Regulatory
TIDMGROW
Molten Ventures PLC
18 May 2022
18 May 2022
Molten Ventures Plc
("Molten", the "Group" or the "Company")
Investment Update
Further to its announcement on 9 March, Molten (LSE: GROW,
Euronext Dublin: GRW), a leading venture capital firm investing in
and developing high growth digital technology businesses, is
pleased to confirm that its portfolio company, Thought Machine, has
now announced a series D funding round raising $160 million at a
valuation of $2.7 billion. This represents a 100% increase from the
valuation at the close of its series C round in 2021, in which
Molten participated.
This investment round will fund Thought Machine's continued
global expansion plans, including further expansion into Asia
Pacific and Latin America. Proceeds from the funding round will
also be used to continue investing in its technology - expanding
the capabilities of its core banking platform and innovating in new
product lines. Thought Machine's core banking platform Vault Core
is developed natively for the cloud and is strongly positioned to
support large-scale banks undertaking core transformation, as well
as smaller banks and fintechs launching new propositions to the
market
An uplift in Thought Machine's valuation was anticipated in
Molten's trading update released on 28 April 2022 which highlighted
an expected NAV per share of not less than 929p. The carrying value
of Molten's holding in Thought Machine will be finalised as part of
the ongoing year-end process in the Final Results scheduled for 13
June 2022. Alongside the recent announcement of Aiven's Series D
funding round, this round provides further confirmation of the
scale and funding capabilities of Molten's portfolio.
-ENDS -
Enquiries:
Molten Ventures plc
Martin Davis (Chief Executive Officer)
Ben Wilkinson (Chief Financial +44 (0)20 7931
Officer) 8800
Numis Securities
Joint Financial Adviser and Corporate
Broker
Simon Willis
Richard Thomas +44 (0)20 7260
Jamie Loughborough 1000
Goodbody Stockbrokers
Joint Financial Adviser and Corporate
Broker,
Euronext Dublin Sponsor
Don Harrington
Charlotte Craigie +44 (0) 20 3841
Linda Clarke 6202
Powerscourt
Public relations
Robin O'Kelly +44 (0)7786 702 526 /
Jane Glover +44 (0)7713 246 126
About Molten Ventures
Molten Ventures (LSE: GROW, Euronext Dublin: GRW) is one of the
most active venture capital firms in Europe, developing and
investing in disruptive, high growth technology companies. We
believe it is our role to support the visionary entrepreneurs who
will invent the future. We fuel their growth with our 'energy' in
the form of long-term capital, access to international networks and
decades of experience building businesses.
As at 30 September 2021, Molten Ventures is a shareholder in a
diverse portfolio of 70+ companies with 17 of those part of our
core portfolio which accounts for 68% of our holdings. Our core
companies include Trustpilot, Graphcore, Revolut, Ledger, and
Aiven. We invest across four sectors: Consumer Technology,
Enterprise Technology, Hardware and Deeptech, 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 a serious potential for global
expansion, strong IP, powerful technology, and 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 an opportunity for public market
investors to access these fast-growing tech businesses, without
having to commit to long term investments with limited liquidity.
Since turning public in June 2016, we have deployed over GBP700m
capital the portfolio and have realised over GBP380m to 30
September 2021.
For more information, go to: https://www.moltenventures.com/
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