24 November 2022
Molten Ventures Plc
("Molten", the "Group" or the "Company")
Fund of Funds Programme update
Molten (LSE: GROW, Euronext Dublin: GRW), a leading venture capital firm investing in and developing high growth digital technology businesses, is pleased to announce that it has syndicated part of its Fund of Funds programme to Castlegate Investments, the private family office investment vehicle of serial entrepreneur, Tommy Kelly.
Molten Ventures' Fund of Funds is one of the leading European VC programmes backing early-stage fund managers. Since the programme inception in 2017, Molten Ventures has invested approximately £72m, out of total commitments of approximately £130m, to 67 early-stage VC firms across Europe as at 30 September 2022. Those managers include Seedcamp, Partech, Seaya Ventures and Earlybird Digital East among others. As of September 2022, the portfolio included over 1,500 companies. Castlegate Investments will commit a total of EUR30m to this programme, of which half will be used to acquire a proportion of Molten's existing seed portfolio, and half will be for future commitments of the Fund of Funds.
The Group intends to further broaden the syndication of its Fund of Funds programme, offering other investors access, through Molten, to the most innovative Seed Fund Managers across Europe, and creating opportunities to co-invest and deploy further capital into direct opportunities within their portfolio companies.
Molten Ventures plc
Martin Davis (Chief Executive Officer)
Ben Wilkinson (Chief Financial Officer)
+44 (0)20 7931 8800
Joint Financial Adviser and Corporate Broker
+44 (0)20 7260 1000
Joint Financial Adviser and Corporate Broker,
Euronext Dublin Sponsor
+44 (0) 20 3841 6202
+44 (0)7970 246 725 /
+44 (0)7713 246 126
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 to 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 2022, Molten Ventures had a diverse portfolio with shareholdings in 78 companies, 21 of which represent our Core holdings and account for 64% of the Gross Portfolio Value. Our Core companies include Aiven, Thought Machine, Coachhub, Graphcore, and Ledger. 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 high potential 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 £970m capital into fast growing tech companies and have realised over £450m to 30 September 2022.
For more information, go to https://www.moltenventures.com/