Molten Ventures Share Discussion Threads

[mrscruff] 17/6/2020 12:39

£4m at 450p at 12:03:38!!!

[sphere25] 17/6/2020 10:21

Invesco out here?

[investor0109] 02/6/2020 09:23

rik shaw- great news and I expect it was this news that caused the share price spike late last week. Draper Esprit still very much undervalued, though I wonder for how much longer as the company continues to deliver.

[mysteronz] 01/6/2020 20:29

Great news, 560p NAV now valued post CV19 aswell. Zynga shares up 5.6% too so worth a few quid more aswell.

Just goes to show how the NAV creeps up. Graphcore alone will blow the entire Market Cap of GROW if that ever IPOs or gets bought out

[rik shaw] 01/6/2020 16:14

Peak Games update resulting in approx 10p per share uplift in NAV

[mysteronz] 28/5/2020 07:44

Prudent trim of some of the NAV but a swift rebound in the economy and some post period raises at a premium to NAV (aircall) look good to me.

C25% discount to an adjusted CV19 NAV with a great track record of NAV growth looks good to me!

[rik shaw] 28/5/2020 07:23

Trading update this morning indicates NAV of 550p currently

[mysteronz] 27/5/2020 10:34

Aircall raised additional capital at 3x existing valuation according to TechCrunch

The company started reaching out to investors in January and ended up closing the round during the coronavirus outbreak. “We have done more than 3x on the valuation compared to the previous round,” Anguelov said

Good news for GROW, more to add on to the NAV and expands the discount here

[mysteronz] 23/5/2020 13:25

With tech having rebounded so significantly this should be must closer to the NAV.

£5 for starters

[seagreen] 22/5/2020 16:55

we are clear for take off Houston

[investor0109] 14/5/2020 17:12

Potential for GROW to do just that, though the proof will be in results day at the end of July. Draper has funded a fair few online service and payments start-ups, which seems wise to me given current 'surge in eCommerce':

[seagreen] 07/5/2020 15:26

To quote Grace Slick...let it grow

[investor0109] 21/4/2020 10:00

Mach100- in agreement that GROW offers good value up to 500p and that there may well be a dip coming, if only for a short while. GROW is a steal at this point in time.

If you're a value investor, I recommend taking a look at INVP, if you haven't already. A recovery could take a long while, though offers superb value in the longer term. Bank of America rated the stock BUY today and have issued a 190p price target.

Is anybody aware of more recent ratings and price targets on GROW? We still have a few months until full results due.

[mach100] 20/4/2020 20:36

Hoping to pick more up sub 400p but will wait until next month. There is probably a second wave of retrenchment due in the market. It has been a good run up since around 23rd of March. Maybe an Italian, Greek or Spanish default. GROW is good value up to 500p so a bout of megative sentiment towards stocks will throw up a huge buying opportunity here for the patient.

[robow] 20/4/2020 15:46

agree with that sentiment

[seagreen] 20/4/2020 14:47

Fascinating buch of investments...was as high as 6 quid until the Woodford debacle....worth a few in one's recovery draw ...

[investor0109] 19/4/2020 12:16

rik shaw- thanks for your mention of the Times article, very interesting. The most recent GROW trading update states that 80% of companies in their fund are in a good enough cash position to weather the current economic climate and as you mention, tech companies expected to fair better than other sectors. It appears that The Times has increased awareness of that.

[rik shaw] 19/4/2020 10:25

No known reason for share price rise on Friday but interesting that the Times today notes that UK technology funds have, on average, fallen just 2.7%.

That implies the drop here is excessive.

[investor0109] 18/4/2020 17:29

Mach100- agreed that GROW will do just that when markets begin to recover. Draper Esprit appears to be hugely undervalued at current prices, even when taking yesterday's move upward into account.

Does anybody here have a clue as to why the share price might have gained so much yesterday?

[mach100] 11/4/2020 14:12

Yes I can see this growing quickly when normality resumes. Looks healthy to me and will ride any market recovery up. Worth accumulating in doom for selling in boom.

[mysteronz] 21/3/2020 17:18

Back in here on Friday, luckily sold every stock on the 24th Feb including GROW.

This is pretty much on a 50% discount to the NAV so plenty of flex in the valuation.

Its illiquid so big swings either way.

5% position in a very (80%) cash portfolio.

[rambutan2] 18/3/2020 21:41

At current price of circa 300p I would hope that pretty much any vulnerabilities have been discounted away! Which isn't to say that in this mkt meltdown it won't drop further...

[lako42] 16/3/2020 12:16

What would you say are the vulnerabilities here in light of the current situation?

Been watching this for a while as a growth play.

[rambutan2] 11/3/2020 21:40

Makes sense:

11 March 2020

DRAPER ESPRIT PLC

("Draper Esprit" or the "Company")

Issue of equity following the acquisition of the balance of Draper Esprit's EIS business

Draper Esprit PLC (AIM: GROW, ESM: GRW), a leading venture capital firm involved in the creation, funding and development of high-growth digital technology businesses, announces that on 10 March 2020 the Company acquired the 28% interest it does not already own in Encore Ventures ("EV"), the partnership which manages Draper Esprit's EIS funds. Following the acquisition, the Company will own 100% of EV.

In consideration for the acquisition the Company will issue 796,812 new ordinary shares at 502p, being the closing price on 10 March 2020, representing a total consideration of GBP4.0 million. The acquisition consolidates the 28% legal interest the Company does not already own and represents a 60% beneficial interest. The acquisition will be immediately earnings-enhancing for the Company, as well as increasing the proportion of the Company's earnings attributable to management fees. In the year to 31 March 2020 , EV is forecasting revenues of GBP2.8 million and expects these to increase further in the year to 31 March 2021.

Draper Esprit's EIS funds have been the highest rated EIS by the Tax Efficient Review for the past 5 years with approximately GBP160.0 million of assets under management ("AUM").

The approach of Draper Esprit's EIS funds is to follow a co-investment strategy with the majority of invested capital committed to larger investment rounds, providing growth capital to 'scale up' companies with the potential to reach $50m-$1Bn+ valuations at the point of realisation.

Following the acquisition, the Company will own a 100% of the legal and economic interest in EV, as compared to the 72% legal interest and 40% economic interest currently held. Going forward, the acquisition will therefore eliminate the non-controlling interest line in the Company's financial statements, which amounted to GBP0.6m for the year ended 31 March 2019 and GBP0.4m for the six months ended 30 September 2019.

Commenting on the transaction, Martin Davis, Draper Esprit's Chief Executive Officer, said:

"Consolidating our ownership of our EIS business better aligns our group structure to support the continued scale-up of our business. One of our overall goals at Draper Esprit is to democratise investment, allowing a range of different savers and investors access to the returns that the high-growth companies in which we invest provide. Our market leading EIS funds already support this goal but, by acquiring the outstanding legal interest in the shares we didn't own, we have consolidated our ability to offer this while simultaneously increasing the fee revenue into the Draper Esprit plc business."