Molten Ventures Share Discussion Threads

[rambutan2] 01/11/2016 13:38

Does GROW own anything HOT!?

[rambutan2] 01/11/2016 03:27

Below are a few useful pointers from the admission doc:

Following Admission, the Group’s cost base is expected to increase to approximately £4 million per annum, these operating costs will be partially offset by the income which the Company expects to receive from the Encore Funds and also through carried interest generated upon the realisation of certain investments held within Esprit Fund 2 and Esprit Fund 3(i) and also the realisation of certain co-investments.

The Company raised net proceeds of £69.4 million pursuant to the Placing and the Subscription, which funds are intended to be used as follows:

£40.1 million to pay the cash element of the consideration for the acquisition of, subject to certain existing carried interest arrangements, the Initial Portfolio; and

£29.3 million to make further primary investments and secondary investments (including companies in the Initial Portfolio) and to provide working capital for the Group to support its growth plans.

On Admission, the Group will own, subject to certain existing carried interest arrangements, minority interests in 24 portfolio companies* which, as at 31 December 2015, had an Aggregate Valuation of £74.8 million (including residual value relating to prior exits) (the ‘‘Initial Portfolio’R17;). The Initial Portfolio, adjusted solely for currency movements since 31 December 2015, had an unaudited aggregate valuation of £76.4 million as at 30 April 2016. *see pg 23-25 and pg 94-95 of admission doc for details

Through its ownership of Encore Ventures (an FCA authorised and regulated management vehicle), the Group manages four EIS funds, currently with a total of £19.5 million under management (approximately three quarters of which is invested). The Group receives income via management fees and performance fees from the Encore Funds and the Directors intend to continue to grow this area of the business.

The Group will also continue to manage three legacy funds, Esprit Fund 1, Esprit Fund 2 and Esprit Fund 3(i) (the ‘‘Historic Esprit Funds’’*). These funds are now in run-off, and while the Group will no longer receive management fees in respect of these funds, the Company expects them to generate carried interest for the Group depending upon the realisation of certain investments held within certain of these funds. *See pg95

The Group has a joint venture with Draper Esprit Secondaries, a separately owned and managed partnership, pursuant to which they work exclusively together on new opportunities to manage secondary investments in Europe. Further information about the team behind Draper Esprit Secondaries is set out in paragraph 2 of Part 3 of this document. The Group expects to receive a proportion of management fees and carried interest in respect of future transactions carried out by Draper Esprit Secondaries.

See pg 92-93 of ad doc for the illustrative pro forma statement of net assets ie £80.5m investments, £30.5m cash and £21m of goodwill, and £4m of liabilities.

[rambutan2] 01/11/2016 03:09

31 Oct 2016, Bristol, UK: Graphcore Ltd, a startup developing new technology to deliver massive acceleration for machine learning and AI applications, has completed a $30m Series-A funding round from a world-class line up of venture capital and strategic investors.

The funding was led by Robert Bosch Venture Capital GmbH with Samsung Catalyst Fund and other major technology firms, alongside leading venture capital funds from London, Silicon Valley and Israel: Amadeus Capital Partners, C4 Ventures, Draper Esprit plc, Foundation Capital and Pitango Venture Capital.

Graphcore has spent the last two years building an experienced hardware and software team to develop a system designed from the ground up to accelerate both current and next generation machine intelligence applications such as natural language dialogue, autonomous vehicles and personalized medicines.

The company will bring its IPU (Intelligent Processing Unit) system to market in 2017 with the IPU-Appliance™ designed to lower the cost of accelerating AI applications in cloud and enterprise datacenters. The IPU-Appliance aims to increase the performance of both training and inference by between 10x and 100x compared to the fastest systems in use today.

[rambutan2] 31/10/2016 12:55

It's worth noting that the five (loosely) comparable evergreen vc / incubator vehicles listed in London all usually trade at big premiums:









Neil Woodfords investment trust actually holds a good slug of all of the above, as well as GROW, giving him early access to non public opps:

[rambutan2] 31/10/2016 03:47

It's worth noting that the £3 float price was pre Brexit vote/Sterling dive. So although the share price has risen to 340p, in Euros it is unchanged But we do know that the nav is up following the hugely profitable exit from Movidius.

[rambutan2] 31/10/2016 03:16

Draper Esprit will be announcing maiden Interim Results for the six months ended 30 September 2016 by the end of November 2016 and will give a further portfolio and NAV update at that time.

[rambutan2] 31/10/2016 03:03

Simon Cook, CEO and Co-Founder of Draper Esprit, said:

"Our motivation for evolving our Venture Capital business model was twofold. Firstly, we wanted to be able to invest for longer in our emerging companies and to be able to build bigger stakes as companies remained private for longer periods, capturing more value for shareholders. Secondly, we wanted to further democratise funding for entrepreneurs.

Traditionally the Limited Partnership model in Europe has restricted who can invest in venture capital backed companies and many growing technology companies are not accessible to institutions or public investors until they go public. Now everyone can participate in the growth of VC backed companies from their earliest stages through series A and B to their success in the later stages up to and including their IPO.

This permanent capital model is ideally suited to a listed vehicle and we are grateful for the support this approach has received from shareholders including: Woodford Investment Management, the Ireland Strategic Investment Fund, China Huarong International Holdings Ltd, Baillie Gifford and several other city institutions, successful entrepreneurs and family offices, many of whom have active later stage and IPO investment activities."

[rambutan2] 31/10/2016 03:02

Molten Ventures (until 10/11/21 was Draper Esprit) is one of the leading venture capital investors involved in the creation, funding and development of high-growth technology businesses with an emphasis on digital technologies in the UK, the Republic of Ireland and Europe.

This evergreen VC vehicle listed on AIM and Ireland's ESM on June 15 at £3 / Euro 3.87. On July 23 2021 it moved to the LSE main mkt and shortly thereafter became a member of the FTSE 250.

ESM:

Presentations:
Interim 30/09/21:

Finals 31/03/21:

Latest AR:

Shares: 152,999,853 ords (as at 16/06/21)

[michaelsadvfn] 11/11/2013 10:21

3. MEDIA CORPORATION (LSE: MDC) 0.17p.

Possible peak price within 3-year time frame: 1p. A five-bagger.

Not any more.....lol

[chinese investor] 18/10/2013 14:21

I Sense He Won't !

[michaelsadvfn] 18/10/2013 14:19

Update please Prof Smelgy...

[michaelsadvfn] 18/10/2013 14:18

Update please Prof Smelgy...

[oscar romano] 02/10/2013 11:54

nice one Tara

put the boot in

luv it

Oscar R

[tara7] 02/10/2013 07:13

PTO now more than doubled.!!!

[michaelsadvfn] 02/10/2013 07:02

NTOG down from 0.58p to 0.39p

I make that around -33%

P.S. Smelgy has a memory like a sieve so highly likely he's completely forgotten he created this thread!!

[tara7] 22/9/2013 08:13

PTO up from £2.20p to £3.60p

I make that around 70%

[1i1i1i] 21/9/2013 23:27

Silly Smelgy, fancy calling himself a Professor, just a failed Tory boy councillor.

[michaelsadvfn] 18/9/2013 16:41

Update please Smelgy!

[tara7] 15/9/2013 19:21

Update please

[professor pettigrew] 01/4/2013 21:13

Here are the latest price performances for the 5 stock growth portfolio from close of business on 12th February, until close of business on 28 March 2013:-

STOCK EPIC Price 12 Feb Price 28 Mar +/- +/-%

Easyjet EZJ 975p 1079p +104p +10.7

Nostra Terra
Oil & Gas NTOG 0.58p 0.49p -0.09p -16

Media Corp MDC 0.17p 0.14p -0.03p -17

Publishing
Technology PTO 220p 290p +70p +32

W S Atkins ATK 832p 915p +83p +10

Overall, I think, a very satisfactory performance in less than 2 whole months trading. The heavier priced mid and FTSE stocks have shown percentage gains ranging from 10 (W S Atkins) to 32 (Publishing Technology - by far the stellar performer from the "famous five").

Our two penny stocks, NTOG and MDC are lagging the market somewhat, but the continuing newsflow in both stocks is positive, and I believe we are on track for all 5 stocks to meet or even exceed their 3-year price targets by the end of trading 2015. Please note the 3year target for PTO has been raised from £6 to £9 following the recent results and trading statement.

A new day dawns tomorrow, Tue Apr 2. Once again, I reiterate my price targets for all 5 stocks and look forward to more positive progress in the months to come.