Molten Ventures Share Discussion Threads

[w13ken] 30/8/2021 18:15

rik, they are both worded badly and ambiguously. In the Evening Standard article below it says that Chesterman will make near a billion and DMGT north of a billion so the $80m may be solely for Draper. My original calculations for GROW had the value at nearer £30m but that was a little sketchy. Anyway we'll find out soon. H1 figures will be released in a few weeks, most probably with a new NAV figure and potential sales of Cazoo, UIPath and TrustPilot (where the 6-month tie-in is about to expire).
As for where GROW will spend existing cash and any cash from the above, it could be in Scandanavia as there is a big in-person show that Draper are attending in Helsinki in a few months:

[brexitplus] 30/8/2021 12:48

Could this be due to their investment in GROW, or do they have separate investments?

[rik shaw] 30/8/2021 10:59

Both of your extracts above imply that GROW will receive $80M in cash as a result of the flotation, but if you read each article they both associate the $80M with three existing shareholders.

'Founder and CEO Alex Chesterman and the existing shareholders...are poised to make $80m (£58.1m) as a result

[w13ken] 30/8/2021 09:06

"and venture capital firm Draper Esprit will receive approx $80M in cash from the transaction proceeds."

[w13ken] 29/8/2021 09:17

More on the Cazoo IPO...

....."venture capital firm Draper Esprit – are poised to make $80m (£58.1m) as a result."....

"Will Turner, growth fund managing partner at Draper Esprit, said on the day of the flotation: ‘Our ethos is to back serial entrepreneurs time and again, which is why it’s incredibly satisfying to see Cazoo enter the public markets today.

‘We backed Alex Chesterman in his first breakout success, LoveFilm, and invested in Cazoo in no small part because we think he’s a rock star operator – one of the best of his breed in Europe."

Draper Esprit CEO Martin Davis said: ‘As a listed venture capital firm, we are especially delighted to see our portfolio companies list themselves and we offer our congratulations to Cazoo Group today.

Cazoo was a bright star from the moment it incorporated and it is testament to the depth of our network, the foresight of our Fund of Funds programme and our listed model that we are able to support Cazoo’s stellar growth trajectory."

[w13ken] 28/8/2021 18:09

Draper were quite late to the game by their standards, investing £10.3m in June 2020. In the annual report in June this year the fair value date 31st March 2021 had risen to £25.7m, which should have gone up to £50-60m now.

[bisiboy] 28/8/2021 13:27

cazoo should add a bit to NAV

[bisiboy] 28/8/2021 13:27

cazoo should add a bit to NAV

[w13ken] 17/8/2021 18:24

UIPath's market cap has dropped a bit but Draper's holding is still worth approx £85-90m. There should be a positive overall GROW NAV update after H1 ends on Sept 30th.

UIPath news:
"It is anticipated that the stock has the ability to double if not triple in value over the next five years, which would make it a great investment. But it is important to remember this is just a forecast and not set in stone.

As the shift to new ways of working, RPA and automation continue to grow so will companies offering these solutions, so how long UiPath will stay at the top of their field remains to be seen, but they are currently in a strong position and could well hold on to it for years to come."

[w13ken] 17/8/2021 18:23

We may see action in September due to full integration of GROW in the FTSE 250 rather than an apparent limbo-land that it is in now but it's worth a reminder on Trustpilot too.

The Trustpilot IPO meant £78.3m was banked with retention of 7.9% of shares. Those need to be kept until till at least September but we're nearly there so Draper could be about to cash in on another £120m of cash. That would be approx £200m 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."

[the white house] 04/8/2021 14:15

Robinhood up 40pcFreetrade looking more valuable, currently well above 212 & eToro in app downloads chartAdded

[brexitplus] 02/8/2021 08:03

Good start to the week following the DT article.

[vraic] 31/7/2021 13:47

Daily Telegraph Today Money page 11
Has half a page on Draper. Martin Davis tells the story
worth a read.
DYOR
LT Holder

[brucek1812] 31/7/2021 12:07

Looks spot on to me. Good luck all...

[cordwainer] 30/7/2021 17:05

repost from Jan..

cordwainer - 21 Jan 2021 - 09:52:50 - 288 of 472 Draper Esprit - VC Firm - GROW
Based on analyst estimates, my conservative target price here for 2021 is £12.
Among my largest portfolio holdings.

[brexitplus] 30/7/2021 15:30

£10 touched.

[w13ken] 30/7/2021 07:10

It's not in my head but this may persuade others. "I've tripled my money backing Britain’s unicorns".That's the enticing title of an article in the Daily Telegraph today. Interview with CEO, Martin Davis, behind a paywall.

[davr0s] 29/7/2021 16:47

Barrier is only that if it's in your head. I added recently and couldn't care less about 1000 level

[w13ken] 29/7/2021 16:40

There's often a psychological barrier to paying over a major milestone figure like 1000p but it's encouraging that it's been trading mostly at 980p or above. Once we've overcome that barrier for a few weeks then we should stay there. There hasn't been as much coverage as I expected after the move to the main market but I expect good news is not far away. This is my #1 holding and I'm in for the long term as the company is making all the right decisions on seed fund building and investment.

[psync] 29/7/2021 11:21

Share price is bouncing off the 1000p ceiling right now. Anyone taking profits? Premium must be quite large at this point.

[adventureinvestor] 27/7/2021 09:16

Good luck bamboo2. I think it is likely to be akin to howling at the moon. I don't imagine anyone you are in touch with will have even the slightest sway on Halifax's policy. The very fact that you are interested in investing in shares like GROW suggest you are a sophisticated investor. Halifax's target market is not the sophisticated investor so they don't care.

[mach100] 26/7/2021 19:15

Count me in Bamboo though I do bank with them and find them excellent. I do not use their share dealing however.

[igbertsponk] 26/7/2021 18:18

Why persevere? Move to someone who says yes not no.

[bamboo2] 26/7/2021 17:57

I think I'll find out the name of the boss and make a complaint.

Does anyone here who commented mind if I tally up the number of PI's who agree the situation is ridiculous, to add weight to my argument?
edit, to save excess posting, I'll assume no one minds unless they say otherwise.