Molten Ventures Share Discussion Threads

[the white house] 21/4/2021 18:23

UI Path currently up over 6.5pc on NYSE after launch

[cordwainer] 21/4/2021 15:12

cordwainer - 21 Jan 2021 - 09:52:50 - 288 of 374 Draper Esprit - VC Firm - GROW
Based on analyst estimates, my conservative target price here for 2021 is £12.
Among my largest portfolio holdings.

[w13ken] 21/4/2021 11:15

I make that £10.3m invested in UIPath now worth £100m! :)

Rerating from here should be big once everyone wakes up to the value of Draper's portfolio. Still expecting shares to be near or above 900p by the end of next week after next Monday's TU.

[w13ken] 21/4/2021 11:09

GROW RNS released today at 11:35.

Draper Esprit (LSE: GROW, Euronext Growth: GRW), a leading venture capital firm investing in and developing high growth digital technology businesses, today notes that UiPath has announced the pricing in relation to its $29bn initial public offering. The shares are expected to begin trading on the New York Stock Exchange under the ticker symbol "PATH" on 21 April 2021, and the offering is expected to close on 23 April 2021, subject to customary closing conditions.

The Company last provided an update on the gross fair valuation of its holding in UiPath on 2 February. Based on the IPO price, Draper Esprit's gross fair value (before carry deductions) is approximately £100 million (using a GBP/USD 1.3767 year-end 31 March 2021 exchange rate). This is an uplift of £63 million to the September 2020 fair value of £37 million.

As previously notified, the Company will release a trading update for the full year on Monday, 26 April 2021.

[cordwainer] 21/4/2021 01:20

UiPath IPO price puts its whole value at around $31 billion, down slightly from $35 billion as of previous fundraising round. Hopefully the public market will reassert the previous valuation and then some.

[p1nkfish] 20/4/2021 10:31

Dummy buy orders earlier to 250K, the seller will clear but appears there are some willing to move on now at reasonable volume and helping put a lid on it for a while.

[w13ken] 20/4/2021 09:57

Hi p1nkfish, interesting but I'm not familiar with overhands/overhangs. What do you mean and where do you find this info please?

[p1nkfish] 20/4/2021 08:39

I'm keen on GROW too and have posted in the past going a long way back.
A buy and forget.

Currently there is a 200K GBP plus overhand at 825p.
Until cleared its going nowhere.

[w13ken] 20/4/2021 08:15

"FintechOS, a European startup promising a low-code approach to helping financial institutions quickly and painlessly go digital, has raised $60 million in a Series B funding round led by Draper Esprit."

[w13ken] 20/4/2021 07:34

I'm a dedicated long-term holder of GROW in my ISA but this morning have also bought some short-term at 828p in my Trading account as I'm so confident they will be near or above 900p by the end of this month.

Very excited for the 26th April Trading Update.

[w13ken] 16/4/2021 16:13

Yes, a very modest premium considering the expected results and the exciting portfolio. That premium should rise as the true worth of the team's expertise and investment record is properly factored in.

An incredible 80-90% of the significant GROW revenue is retained as earnings and none of my other shares is anywhere close to that. My #1 holding now.

[brexitplus] 16/4/2021 15:13

So would be at a bit of a premium.

[w13ken] 16/4/2021 11:01

Over on Advfn, sageoflondon who is an accountant, puts the NAV at £7.50 to £8.15.

I think that it is likely to be at the upper end of that range and there is good news on the Trustpilot sale (and the rise of the Trustpilot retained shares), so many other good growing companies in the GROW portfolio and a strong market appetite for IPOs.

The Trading Update sharing all this positive news is due on 26th April and I expect the share price to be above 900p by the end of this month.

[brexitplus] 16/4/2021 05:49

How does anyone see the NAV at the moment?

[brexitplus] 14/4/2021 13:13

More on iPath

Dublin and London-listed venture capital firm Draper Esprit is set to see the value of its investment in US automation software group UiPath rise by about £44m (€50.6m) based on plans by the American firm to go public.

But the uplift to Draper Esprit is still less than the uplift Draper Esprit might have expected based on a funding round in February by UiPath that saw it raise $750m (€628m).

That funding round had implied an uplift of £78m for Draper Esprit on its investment in the US software firm.

UiPath expects to raise about $1.2bn from its stock market flotation, which is likely to give it a market capitalisation of between $22.2bn and $25.8bn (€18.6bn to €21.6bn).

The February funding round indicated a valuation of $35bn on the business.

Goodbody analyst Gerry Hennigan was upbeat about the impact of the flotation for Draper Esprit, noting that it is the equivalent of about a 32p per share uplift to the listed venture capital company. Its shares are also listed in London.

Yesterday, Draper Esprit shares were changing hands at about £8.25 in London, giving it a market capitalisation of £1.1bn."

[brexitplus] 14/4/2021 13:10

I'm also looking at Chrysalis which holds some of the same companies as GROW. I s anyone else invested there. Its at a 12% premium to GROW.

[w13ken] 14/4/2021 07:02

More excellent news about the UIPath IPO.

"Goodbody analyst Gerry Hennigan was upbeat about the impact of the flotation for Draper Esprit, noting that it is the equivalent of about a 32p per share uplift to the listed venture capital company. Its shares are also listed in London."

The last paragraph is probably a copy and paste from a previous article as it mentions the sale to Zynga but misses out the significant Trustpilot money.

[w13ken] 13/4/2021 11:38

Draper chose not participate in the most recent round of funding but did back last July. Even with a drop of a third the £10.3m investment should have more than doubled.

■
H121: £10.3m invested, £36.7m valuation based on last investment round, 3.5x cash/NAV.

■
Following Draper Esprit’s H121 results, UiPath announced an additional US$750m Series F funding round in February 2021 that valued the company at US$35bn post-money. The round was co-led by Alkeon Capital and Coatue Management, with other existing investors participating including Altimeter Capital, Dragoneer, IVP, Sequoia Capital, Tiger Global, as well as funds advised by T Rowe Price Associates. Draper Esprit did not participate.

[don_cristobal] 13/4/2021 10:44

Techcrunch article - UiPath's IPO will be initially priced at between $22bn and $26bn, down from its last private round of $35bn

hxxps://techcrunch.com/2021/04/12/uipaths-first-ipo-pricing-could-be-a-warning-to-late-stage-investors/
UiPath’s first IPO pricing could be a warning to late-stage investors

A few months back, robotic process automation (RPA) unicorn UiPath raised a huge $750 million round at a valuation of around $35 billion. The capital came ahead of the company’s expected IPO, so its then-new valuation helped provide a measuring stick for where its eventual flotation could price.

UiPath then filed to go public. But today the company’s first IPO price range was released, failing to value the company where its final private backers expected it to.
...Is UiPath’s first IPO price interval another indicator that the IPO market is cooling?

[w13ken] 08/4/2021 12:37

The 26th April Trading Update is a month earlier than last year so they can't wait to share the good news with us. A bargain at the current price and should be nearer 900p than 800p after the TU, if not before.

[brexitplus] 08/4/2021 08:28

I get the overview as an email which has more information than the RNS.

Suggest investors register for updates on the website.

[tightfist] 08/4/2021 06:30

Great overview update this morning - I am fairly new to GROW but have already added. Enjoy!

[igbertsponk] 06/4/2021 09:03

Not sure its a strategy ! Pre IPO holders seldom flog the lot on IPO as if they want to the buyers they're selling to wonder why they're buyng something someone else is so desperate to get totally rid of!

[sirrux] 06/4/2021 08:42

I like the strategy of holding on to some of the investments post IPO. That's good for the longer term prospects and can reduce the cyclicality of returns in this sector due to liquidity droughts. I wonder how much they are targeting for non-private holdings as a percentage of the portfolio once the current, almost ripe batch, is floated.

[brexitplus] 01/4/2021 12:02

Excellent link on ResearchTree covering GROW investments at Investor Day

hxxps://www.research-tree.com/companies/uk/asset-management/draper-esprit-plc/research/edison/draper-esprit-a-peek-into-draper-esprit-s-portfolio/3_29213xxx-7d58-a4f3-bb03-d702fa3674a5?ismobile=true