2nd Feb 2022 09:56
(Alliance News) - Molten Ventures PLC provided on Wednesday an update to its investment portfolio and noted receiving cash proceeds of GBP110 million in the year-to-date from realisations.
The London-based venture capital firm focused on technology companies said it had seen continued momentum in deal activity, with GBP259 million invested over the year-to-date, including 12 primary deals and 15 follow-ons.
Molten Ventures said it had seen strong revenue growth across its portfolio companies through 2021 and said this was forecast to continue for 2022 with year-end guidance of fair value growth in the region of 35%.
In November, Molten participated with a GBP20 million investment in a USD200 million Series C round in London-based banking technology firm Thought Machine.
In December, Molten led a USD10.8 million seed round in Gardin, a London-based agricultural technology aiming to make food production sustainable and affordable.
In January, Molten led a USD25 million Series B funding round in Mostly AI, an Australian synthetic data generation platform, and a USD45 million Series A round in causaLens, a London-based artificial intelligence software development company.
Also in January, Molten sold its portfolio company Bright Computing to Nasdaq-listed Nvidia Corp. Molten did not disclose the price but said the realisation generated a 1.6 times return on invested capital. Molten had first invested in Bright Computing in 2014.
Shares in Molten Ventures were up 5.3% at 825.57 pence on Wednesday morning in London.
By Heather Rydings; [email protected]
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