Molten Ventures Plc: Secondary position in Seedcamp Fund III

Molten Ventures plc

("Molten", the "Group" or the "Company")

Secondary position in Seedcamp Fund III

Molten Ventures plc (LSE: GROW, Euronext Dublin: GRW), a leading venture capital firm investing in and developing high growth digital technology businesses, is pleased to announce the acquisition of a secondary position in Seedcamp Fund III.

The Group has acquired approximately 19% of the Fund for €8.5m. This 2016 vintage fund contains a portfolio of high-growth, disruptive technology companies, with over 80% of the value concentrated in six mature, proven assets in attractive market segments:  Revolut, Pleo, Grover, WeFox, Thriva and Curve.

The Group does not envisage any further funding to be necessary for the underlying portfolio companies.

The acquisition is in line with the Group’s previously communicated strategy to access exceptional secondary investments at attractive valuations.

Molten Ventures has previously acquired secondary positions in Seedcamp Funds I & II, Earlybird DWES Funds IV and Earlybird Digital East Fund I. Molten’s secondary strategy leverages its network in the venture capital market to provide liquidity to later life funds, with a focus on acquiring portfolios of high quality assets with nearer term visibility on realisation opportunities. To date the secondary strategy has delivered 2.5x returns (multiple on invested capital).

Martin Davis, Chief Executive Officer, Molten Ventures, commented:

“As we observed when launching our fundraising late last year, the current macroeconomic conditions are an opportunity for Molten Ventures, and we’re pleased to have been able to act quickly to identify and invest in this portfolio of high quality, later-stage assets. We are also pleased to further deepen our relationship with Seedcamp through this transaction”.

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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 £520m to 30 September 2023.

For more information, go to https://www.moltenventures.com/