Molten Ventures Plc / GB00BY7QYJ50
21.02.2024 - 08:00:07Molten Ventures Plc: Secondary position in Seedcamp Fund III
Molten Ventures Plc (GROW; GRW) 21-Feb-2024 / 07:00 GMT/BST 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”. -ENDS- Enquiries:
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ISIN: | GB00BY7QYJ50 |
Category Code: | ACQ |
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.: | 304933 |
EQS News ID: | 1841449 |
End of Announcement | EQS News Service |
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