15th Jun 2023 10:17
(Alliance News) - Molten Ventures PLC on Thursday reported a fall in net asset value per share over financial 2023.
Net asset value as at March 31 amounted to 780 per share, down from 937p on the same date a year earlier.
Gross portfolio value amounted to GBP1.37 billion, down from GBP1.53 billion.
The London-based venture capital firm swung to pretax loss of GBP243.4 million for the year ended on March 31 from a profit of GBP300.7 million the year before, as total investment income swung to a loss of GBP217.4 million from a profit of GBP351.2 million the year before.
Molten Ventures also reported a movement on investments fair value loss of GBP240.1 million, compared to a gain of GBP329.4 million the year before.
Chief Executive Officer Martin Davis said: "After a difficult twelve months for the technology industry, we are cautiously optimistic for the year ahead as markets stabilise and, in places, recover. In the year, we've continued to make strategic progress by increasing our funding flexibility and leveraging third party assets so we are well positioned to continue to invest in high-growth, disruptive technology companies."
Looking ahead, Molten Ventures said it is optimistic for the year ahead as the technology markets continue to stabilise and recover in places.
Shares were down 1.1% at 296.80 pence each on Thursday morning in London.
By Xindi Wei, Alliance News reporter
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