Molten Ventures Share Discussion Threads

[p1nkfish] 26/4/2021 08:27

"Many a slip between cup and lip". It has run ahead and we have the Summer to negotiate.

[igbertsponk] 26/4/2021 08:07

47% increase in value of what they're invested in, won't be long until NAV well over a tenner per share at that rate.Great pipeline of unicorns.

[p1nkfish] 26/4/2021 07:12

Premium is large at current share price vs NAV of 728p.

[brexitplus] 26/4/2021 07:06

Trading update

Highlights:


· NAV per share (unaudited) is expected to be not less than 728p (31 March 2020: 555p).
· Gross Portfolio Value (unaudited) is expected to be not less than £955 million (31 March 2020: £703 million).
· Gross Portfolio increase in fair value (unaudited) is expected to be not less than £330 million (47%) over the year (year to 31 March 2020: £59 million).
· Increased investment cadence with £96 million invested by the Group's balance sheet ("PLC") in the second half of the year, compared to £32 million in the first half, with a further £34 million from EIS and VCT co-investment bringing the total for the year to £162 million (prior year £128 million)
· Realisations in the year ended 31 March 2021 of £206 million (year to 31 March 2020: £40 million)
· Net proceeds of £107 million from equity raise in October 2020, which provided significant firepower to increase our investment cadence in the second half.
· Available cash at year-end of £161 million
· Post year-end investment as lead investor of $60 million Series B round in FintechOS.
· Strong deal pipeline with over £50 million of deals approved by the investment committee and further visibility on over £75 million of near-term qualified pipeline.

[the white house] 22/4/2021 19:40

Revolut opening in India, 25m investment, app launch next year

[brexitplus] 22/4/2021 10:59

FintechOS the global technology provider for banks, insurers and other financial services companies, today announced it has raised USD 60 million (EUR 51 million) in Series B funding. The round was led by Draper Esprit, a leading venture capital firm whose investments include Form3, ICEYE, Revolut, Thought Machine, UiPath. Existing investors Earlybird Digital East, Gapminder Ventures, LAUNCHub Ventures, and OTB Ventures also participated in the round. Further investors are set to be announced at a later date.

The funds will be primarily used to cement the company’s position in Europe and the UK and fuel international expansion to target financial institutions in Asia-Pacific, Middle East and Africa, and North America. This includes new offices in the USA, Dubai, and Singapore, along with the addition of 120 new staff members resulting in a 40% increase in overall headcount. FintechOS also plans to use the funds to expand its core systems capabilities in banking and insurance, strengthening the low-code self-service proposition and personalization through AI and machine learning in customer journeys and product and services offerings. The overall aim is to accelerate growth beyond the 200% CAGR achieved to date.

Across the globe financial service providers are planning to invest heavily in new technology to accelerate digitalization. However, many institutions are struggling with existing digital transformation strategies. Instead of lengthy and laborious rip and replace digital transformation strategies that require high levels of technology expertise and investment, FintechOS allows financial service providers to start small, think big and scale fast. With its low-code, self-service approach that augments legacy systems, FintechOS allows institutions to build, test and scale new digital products and services in weeks rather than months.

[w13ken] 22/4/2021 08:26

I looked a bit deeper into the early investment in UiPath and it leads back to a very important partnership that I hadn't fully appreciated.

Back in July 2018, DE partnered with German VC Earlybird (EB) creating a portfolio of over 100 European tech businesses, including Revolut, Graze, UI Path, N26, Transferwise, Ledger, Graphcore and Peak Games.

As well as acquiring access to EB's Central and Eastern European knowledge and expertise DE have also invested directly into EB. According to last year's Annual report, £131.4m into EB, valued at £187.3 million (suggests they own 70% of the company).

Looking at the EB's website it seems that a few of Draper's most interesting investments, including Romanian UiPath, Romanian FinTechOS, German Hive and Turkish Peak Games have come through this strategic partnership.

[w13ken] 21/4/2021 22:18

UiPath shares up 23% to $69 on its first trading day, giving the company a market capitalisation of $35.8bn. Draper investment should now be circa £120m.

[p1nkfish] 21/4/2021 21:24

Grow price action suggests nothing hidden and its all probably in the price already.

[the white house] 21/4/2021 20:57

Idiot, over 22pc would be closer...Is DE holding any or all gone'

[the white house] 21/4/2021 19:23

UI Path currently up over 6.5pc on NYSE after launch

[cordwainer] 21/4/2021 16:12

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 12:15

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 12:09

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 02:20

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 11:31

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 10:57

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 09:39

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 09:15

"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 08:34

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 17:13

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 16:13

So would be at a bit of a premium.

[w13ken] 16/4/2021 12:01

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 06:49

How does anyone see the NAV at the moment?