Molten Ventures Share Discussion Threads

[johnrxx99] 11/4/2023 06:26

Well spotted

[ayl30] 09/4/2023 22:14

re GROW, Sunday Times report that Sequoia have written their holding in Graphcore down to zero. If indeed a zero, that would mean a 4% hit to GROW's nav

[spectoacc] 07/4/2023 07:12

I admit it's a while since I looked properly, but a great many unprofitable co's are going to struggle to raise money going forwards - the last 14 years of free money are over - so GROW will need to pick & chose who to support. Many won't make it.

Never inspires me that Cazoo is the one that jumps out on here:



And Revolut. And Trustpilot. All the ones I recognise I wouldn't touch with a bargepole :)

Maybe it's worth looking again at this discount, but I see they realised £13m in the boom time 6 months to Sept, spent £112m, had £28m group cash remaining, and a £150m expanded debt facility.

[hugepants] 06/4/2023 17:14

Portfolio value was down 12% to end sept so they maybe ahead of the curve.

[spectoacc] 06/4/2023 15:21

End-Sept! The world has changed since then. SVB alone.

[hugepants] 06/4/2023 11:04

Has this bottomed out? It looks a bit mad down here with last reported NAV of 837p (at end sept). It's venture capital so obviously risky in the current funding environment but you can half that NAV and still be on a 37% discount.

[johnrxx99] 04/4/2023 07:59

And then the Saudis cut oil supplies. I wonder who they work for, LOL.

[mallorca 9] 01/4/2023 06:34

Very positive news ...along with the Director buy.
Hopefully the tide is turning.

[riverman77] 31/3/2023 10:01

If they can maintain valuations across the wider portfolio then this is obviously incredible value - hard to tell how this reads across to the rest of the portfolio, but an encouraging first sign. Also worth noting that there has been a sharp rise in the NASDAQ since start of the year - if you take this as a very broad sign of sentiment in the tech space, then GROW clearly has some catching up to do.

[its the oxman] 31/3/2023 08:30

You would think so. Was expecting all valuations to fall so looks good under the circumstances.

[cordwainer] 31/3/2023 06:48

A reassuring though not glittering RNS. ought to encourage some share price recovery yes.

[johnrxx99] 31/3/2023 06:20

Let's hope this breaths some life into the share price

[mysteronz] 30/3/2023 18:04

Ledger raises c$100m at same valuation. Very impressive and great to see valuations (in this case) holding their ground :)

[mwj1959] 28/3/2023 16:19

So nearly doubled and then nearly halved in a few months...and no NAV update until late April (presuming the provide an unaudited NAV with their trading update prior to full results in mid June). Late Oct / Early Nov rally in the share price off the lows was helped by the NAV decline in the Interims being "relatively" modest, at least in relation to the size of the discount. Does the same story play out again in a month's time?

[spectoacc] 17/3/2023 16:09

Hmm I think we're seeing the start of bigger problems, problems I thought would manifest far sooner than this (interest rates from 0.1% to 4% in double quick time).

But takes two to make a market - and good luck.

[cordwainer] 17/3/2023 16:01

Agreed maybe we see the start of normalisation. I don't entirely trust these official forecasts of a smooth decline for example...



"Inflation Rate in Euro Area is expected to be 8.30 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Euro Area Inflation Rate is projected to trend around 2.30 percent in 2024 and 2.10 percent in 2025, according to our econometric models."

Just a wild guess, the ECB will react / reverse interest rates too slowly and inflation will bounce off a low point in about 12 months.

Basically I see light at the end of the tunnel for IPOs and exits and therefore valuations and discounts. This type of investment is ok for long term holders and could turn out to be bargains right now. Grim is good for buyers. Look into the funding situations and portfolio prospects tho.

This one seems more than ok without news. Maybe even the SVB / Credit Suisse furores turns out to be a buying opportunity ?

[spectoacc] 17/3/2023 14:48

Inflation will fall, but very likely pick up again, particularly if the current banking crisis spreads & causes rates to peak sooner than they would otherwise.

Good luck GROW holders - not in again yet, and may well miss it, but a plethora of ops are finally opening up after a very long (& much longer than expected) wait.

[cordwainer] 16/3/2023 23:18

Picked up a few more earlier today at around 302p. Looking forward to falling inflation rates.

[cordwainer] 15/3/2023 14:18

A good UK budget day for private equity medtech and tech businesses but what will the market be focused on ? Whatever slippery negative straw it can grasp no doubt.

[johnrxx99] 15/3/2023 07:33

Topped up yesterday and looks like directors retaining share options

[kooba] 14/3/2023 12:02

The key to these businesses now is to find some exits ..they have invested huge money over the years but the models depend very much on recycling cash ( especially when the market offers no opportunity to raise more equity near nav) to support other investments and make new ones. Unfortunately the market appetite for IPO's has fallen off a cliff for now but there is still the corporate exit route..if they can demonstrate they can still recycle and that the portfolio values hold up through the next rounds there is significant upside..but i think the market will need more convincing on the model than a couple of years ago !

[its the oxman] 14/3/2023 11:39

Should rocket if we get a few up days for the wider market.

[ayl30] 14/3/2023 09:06

Topped up today

[ayl30] 14/3/2023 08:33

Clear, concise, reassuring