25th Nov 2025 10:23
(Alliance News) - Molten Ventures PLC reported a sharp turnaround in its first half on Tuesday, swinging to a pretax profit and booking investment gains.
The tech-focused venture capital firm posted a pretax profit of GBP74.4 million for the six months to September 30, reversing a GBP25.2 million loss a year before.
Total investment income also rebounded, coming in at GBP90.5 million, compared with a GBP3.0 million loss in the first half of the prior year.
Molten said the performance was underpinned by higher portfolio valuations, ongoing realisations and disciplined capital deployment.
Net asset value per share increased to 724 pence, up from 646p a year ago and 671p at the end of March.
Net assets climbed to GBP1.29 billion, from GBP1.21 billion a year earlier.
Chief Executive Officer Ben Wilkinson said the first half "sustained strong momentum," highlighting value growth across the portfolio.
He added: "We are pleased with the progress we made on the strategic priorities outlined in February 2025, and remain committed to delivering against these.
"We are also making progress in developing co-investment structures to build further scale; continuing with our NAV per share accretive buyback programme; and looking forward to further news flow on both realisations and compelling investments in line with our strategy."
Molten generated GBP62 million in cash proceeds from realisations in the period, with a further GBP23 million received since the period end.
New investments totalled GBP33 million, including stakes in Duel and General Index, as well as post-period allocations to Polymodels Hub and follow-on funding for existing holdings. A further GBP20 million has been committed to series A and B rounds since September.
The firm continued to pursue NAV-accretive share buybacks, returning GBP19 million in the six months and GBP5 million more after September 30.
CEO Wilkinson said Molten is "focused on the most accretive uses of our capital to build maximum value across the group."
Molten Ventures shares rose 3.5% to 434.00 pence in London on Tuesday morning.
By Eva Castanedo, Alliance News reporter
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