Molten Ventures Share Discussion Threads

[w13ken] 22/7/2021 14:35

All on target for tomorrow's move to the main market. Shares nicely up already today in anticipation and there should be more to come with positive finance media coverage.

Thu, 22nd Jul 2021 14:16

RNS Number : 1794G
Draper Esprit PLC
22 July 2021

Draper Esprit plc: Announcement of admission to the Official Lists and cancellation of AIM and Euronext Growth listing

Draper Esprit plc (dual listed, AIM: GROW, Euronext Growth: GRW) ("Draper" or the "Company"), a leading venture capital firm investing in and developing high growth digital technology businesses, is pleased to announce that its ordinary shares (the "Ordinary Shares") will be admitted tomorrow to the premium listing segment of the Official List of the Financial Conduct Authority and the secondary listing segment of the Official List of the Irish Stock Exchange plc, trading as Euronext Dublin ("Euronext Dublin") (the "Official Lists") and to trading on the London Stock Exchange plc's (the "London Stock Exchange") main market for listed securities and the regulated market of Euronext Dublin (the "Main Markets") (together "Admission"). Dealings in the Ordinary Shares will commence on the Main Markets at 8.00 a.m. on 23 July 2021 and trading in the Ordinary Shares on the AIM market of the London Stock Exchange ("AIM") and the Euronext Growth market will be cancelled simultaneously therewith.

Admission will be through an introduction of the existing Ordinary Shares. The Company is not offering any new Ordinary Shares nor any other securities in connection with the proposed Admission or the publication of the Prospectus. Following Admission, the Company's Ordinary Shares will continue to be registered with their existing ISIN number GB00BY7QYJ50. The Company's ticker symbol will continue to be GROW in the UK and GRW in Ireland. On Admission, there will be 152,999,853 Ordinary Shares in issue.

[bamboo2] 20/7/2021 20:42

Sorry, dub.

[w13ken] 15/7/2021 18:09

Ok thanks. £40m uplift for Trustpilot is worth 26p to the NAV too then.

[rik shaw] 15/7/2021 17:37

£99M uplift stated, divided by 153M shares.

[w13ken] 15/7/2021 15:45

I believe the share price should move to 4 figures in the next few weeks once this news and the Trustpilot uplift is absorbed, the move to FTSE 250 next Wednesday factored in along with wider finance media coverage, additional brokers wading in etc.

rik shaw, interested to see you 64p valuation uplift. Can you share how you calculated it?

[brexitplus] 15/7/2021 15:03

Excellent news. Let’s hope the share price reacts accordingly.

[rik shaw] 15/7/2021 14:49

Yes, that suggests an uplift per share of approx. 64p.

[w13ken] 15/7/2021 14:44

Incredible Revolut RNS :-)

"Draper Esprit (LSE: GROW, Euronext Growth: GRW), a leading venture capital firm investing in and developing high growth digital technology businesses, notes the announcement today that Revolut, the financial superapp, has raised more than $800 million in a Series E round from new investors Softbank Vision Fund 2 and Tiger Global Management.

As a result of the investment, Revolut is now valued at $33 billion (~£24 billion). Based on the valuation implied by the fundraising, the Company's gross fair value holding (before carry deductions) is approximately £119 million. This is an uplift of £99 million to the March 2021 gross fair value of £20 million. The Company first invested in Revolut in 2018 as part of its Series C round.

Having launched in 2015, Revolut now has more than 16 million customers around the world using dozens of innovative products to make more than 150 million transactions a month."

[w13ken] 14/7/2021 15:30

The Trustpilot IPO announcement below suggests £78.3m banked so far, retention of remaining shares till at least September and 7.9% retained of £1.63billion (their current ever-growing market cap) = £128m. I make that £206m from their initial £29.7m investment!

"The Company's total investment to date has been £29.7 million and as of our interim results to 30 September 2020 our holding was valued at £80.9 million. As part of the IPO, the Company will be selling down part of its holding, resulting in proceeds of £78.3 million. The Company will continue to hold 7.9% in shares amounting to £85.5 million (subject to any exercise of the overallotment option during the period to admission) based on the Trustpilot share price on 23 March 2021. The Company's continued holding will be subject to a customary 180-day lock-up period from the date of admission in line with other institutional investors in Trustpilot."

[makinbuks] 08/7/2021 15:15

Yes I've placed my order with Primary Bid

[brexitplus] 07/7/2021 17:25

I’ll be investing in Forward.

[rambutan2] 05/7/2021 22:34

Noted:

Forward Partners Group PLC said Monday that it intends to seek admission for its shares on the London Stock Exchange's market AIM.

The company said BlackRock Inc. and Draper Esprit PLC have said they would like to subscribe for 15 million pounds ($20.7 million) and GBP2 million worth of ordinary shares in the company, respectively.

Forward Partners said it expects to raise at least GBP25 million of gross primary proceeds, which will be used to fund further investments in portfolio companies as well as new investments. Admission and commencement of dealings on AIM are expected mid-July, and the ticker will be FWD, the company said.



Forward was founded in 2013 by Nic Brisbourne, former partner at Draper Esprit with over 20 years venture capital experience. The management team brings together highly experienced venture capitalists, entrepreneurs, and expert consultants. Since 2015, Forward has been backed by BlackRock, one of the largest institutional investors in the world.

[brexitplus] 01/7/2021 06:14

Raising the Bar: Graphcore's first MLPerf Results
Graphcore's first ever training submissions to MLPerf - the AI industry’s most widely recognised benchmarking process - are now publicly available.

We're delighted to be sharing our outstanding results - BERT time-to-train of just over 9 minutes and ResNet-50 time-to-train of 14.5 minutes on our IPU-POD64.

This is supercomputer levels of AI performance, putting us firmly ahead of NVIDIA on performance-per-dollar metrics.

[brexitplus] 27/6/2021 17:50

With two unicorns in two weeks, Draper Esprit is bullish on France

hxxps://tech.eu/features/39865/with-two-unicorns-in-two-weeks-draper-esprit-is-bullish-on-france/

[igbertsponk] 25/6/2021 12:58

Soon indeed at this rate.

[its the oxman] 23/6/2021 22:16

Has to see 1000p fairly soon.

[the white house] 23/6/2021 16:45

50k, 70k & 225k sellers all absorbed nicely & still a decent move up. Strong write ups in the broad sheets tomorrow

[the white house] 23/6/2021 10:24

Incredibly strong start to the yearnuff said

[w13ken] 23/6/2021 09:08

Also I reported a few posts back that the SportPursuit exit was valued at £18.5m. That was as of March but it increased by £10m after that! :-)

[w13ken] 23/6/2021 09:06

We've broken through the 900s at last and with wider exposure and tracker investment in the FTSE 250 (by 21st July) I'm hoping for 4 figures in the next 6 weeks.

[brexitplus] 23/6/2021 07:38

Move to Main Market and investment round up. All positive.

[w13ken] 22/6/2021 16:08

Nice one BP but the link didn't work for me. Here's some info from the excellent Edison report.

"Draper Esprit committed capital to a further 15 funds in FY21, bringing its overall commitments to 35 seed funds as at 31 March 2021. This network provides access to seed stage companies, as well as supporting specialist deal flow across Europe. New FY21 portfolio companies Cazoo and Hopin originated through this network.

New fund commitments included regional funds such as Icebreaker II (Nordics) and Draper B1 (Spanish start-ups), as well as thematic investors, including Atelier (passion economy) and Quatonation (quantum computing). Draper Esprit also invested in the latest funds of existing fund managers including Seaya Ventures III, Icebreaker II, Stride II, Seedcamp V and Amaranthine fund II. The seed fund of funds programme now includes several impact or sustainable funds.

Valuation: Potential for NAV uplift in FY21
As an investment company, Draper Esprit’s financial performance centres around its balance sheet, the growth in fair value of its investment portfolio (FY21: 51%), the resultant growth in net assets (FY21: 57%) and NAV per share (FY21: 34%), and the cash resources available (c £215m) to allow the group to continue to fund its portfolio companies to maturity and exit.

After a very strong FY21 resulting in a five-year NAV/share CAGR FY16–21 of 18.7%, Draper Esprit has demonstrated why it warrants a premium as a rapidly scaling leader in the technology VC sector. Draper Esprit trades at 1.18x FY21 NAV, and having raised a fresh tranche of capital, is ready to continue to scale its business ahead of a listing on the Main Market and the potential launch of a co-investment growth fund in FY22. Catalysts for a re-rating include further scaling of the business, the listing on the Main Market, growth in third-party fee income and successful exits and IPOs."