Molten Ventures Share Discussion Threads

[kooba] 30/4/2024 15:47

Last edison note was Nov ..likely that they can't produce marketing during an offer period ..ie forward partners deal , but that closed mid March so about time Edison did a through update since we have had a trading update already for the year end.https://www.edisongroup.com/research/nav-down-c-6-in-the-first-half-of-fy24/32914/

[kooba] 30/4/2024 15:40

If they meet the cash disposal targets and maybe see one or two ipo's that should positively impact Nav in the current year then there is certainly more room to narrow on an increasing nav into next year. Anyone seen a forecast of March 2025 nav out of interest..may see if i can get hold of a note.

[spectoacc] 30/4/2024 15:30

I've had 320p in mind for a while, so not far off, but only as a stepping stone - if valuations start rising, and some listings come through, we could be off to the races.

Not expecting a return to £10+ highs, but GROW is lower than 10 years ago - been a lot of progress since then.

[kooba] 30/4/2024 15:26

Just think it's good investment buying ..the company's financial position was a bit precarious but following the raise and acquisition and now some cash disposals they should be off the risk list...so i think the valuation is now starting to factor that de-risking in along with the wider more positive tech valuation and private equity activity.If valuations are turning the corner what discount to their up to date asset value of 661p should they trade at?Even a 50% discount takes them to 330p.

[thunders] 30/4/2024 14:30

Some one is building stake here? Could be BlackRock, Inc.?

[thunders] 30/4/2024 11:52

Nice to see some buying!

[kooba] 30/4/2024 08:56

Maybe right but valuations for IP in the sector constantly surprise on the upside..if they have invaluable IP and leading players don't want the opposition to get it than there could be a bidding war. Ever the optimist..actually i am normally seen as completely the opposite questioning everything. Fingers crossed though more good news in the portfolio generally.

[peterrr3] 30/4/2024 08:38

My heart says yes and my head says fire sale.

[kooba] 30/4/2024 07:57

This one has gone quiet but figure could be next on the block?(Bloomberg) -- Graphcore Ltd., a UK microchip maker, is considering a sale to foreign buyers after failing to successfully cash in on the boom in artificial intelligence, the Telegraph newspaper reported, citing industry sources it didn't identify. Bristol-based Graphcore has been in talks with major technology companies as it seeks funding to cover growing losses, the newspaper said. Some large investors in the closely-held company have already marked up the value of their stakes in anticipation of a deal of more than $500 million, the Telegraph said.

[johnrxx99] 30/4/2024 07:46

Endorses book value and on the march back to previous proper value, 20% discount to NAV should be possible imo but purely a guess and some years away. DYOR

[kooba] 30/4/2024 07:43

Do not disagree..Institutions might wake up to the underlying value of the portfolios of the likes of IPO and GROW very soon..could see a meaningful rerate as doubt there will be many sellers close to current levels as most bored money already out.Fingers crossed hey.

[spectoacc] 30/4/2024 07:39

£380m market cap, GROW's one that wouldn't look out of place 100p higher ;)

"..Multiple realisation processes either underway or planned.." implies at least one or two listings rather than outright sales, which could be even more interesting.

[kooba] 30/4/2024 07:31

Should be a help to any ongoing rerate.It also shows US companies moving on UK private plays ..having seen many UK listed mid caps fall prey it could be the start of further moves by better funded US companies.The fact it is at a modest premium to carrying value underlines the industry values relative to the company book values. All positive and starts to remove concerns around the company's cash position and hence derisks the position.Added yesterday and now an over weight position..suits me !

[spectoacc] 30/4/2024 07:13

Very interesting - thanks.

[kooba] 30/4/2024 07:12

Disposal close to book value but positive as monetises holding and firms up valuations. Interesting comment at the end of statement. Could they be looking at using cash proceeds on share buybacks? Certainly woud be highly nav per share accretive on current discount and far better immediate use of funds than making new investments it strikes me."The news follows our recent announcement in relation to Perkbox, and reflects the additional momentum being seen in the realisations market. With multiple realisation processes either underway or planned across the portfolio we expect to deliver in the region of £100 million of capital back to the balance sheet this financial year."We will provide an update on our capital allocation policy in respect of these anticipated proceeds, which focuses on NAV per share accretive deployment, at the time of our full year results on 12 June 2024."

[spectoacc] 29/4/2024 16:49

Suspect it'll need some good listing/IPO news to clear £3, but see no reason it can't do that this year. As @kooba says above, once NAV starts rising consistently, GROW should start to look a different beast.

[thunders] 29/4/2024 16:23

Now at last this is moving!!

[kooba] 27/4/2024 06:47

Well at the discount they are on we may be seeing as with revolut that underlying nav starts to rise again..perish the thought ! It would then make current discount look truly ridiculous. The other danger for Molten and other investment companies right now is that an activist pops up on the register trying to force change and liquidations ..it might well lead to a shorter term share price bounce and narrowing to discount but might not be in the best interests longer term as would force sales at sub prime levels.I'm afraid GROW is a bit of a sitter at the moment.https://www.ftadviser.com/asset-allocator/2024/04/25/what-has-prompted-activist-investors-to-buy-into-chrysalis/AVI already on the register and a matter of time before someone starts building here and pressuring disposals unless we get a rerate.Either way looks a good bet. Dyor.

[johnrxx99] 27/4/2024 04:39

Yes, ii have given me a code number after several days of asking, thus back again. Totally agree about the market turning positive for tech again, may take a while to truley hot up but unlikely to decline - all things being equal.

[spectoacc] 26/4/2024 09:15

Good point. Not a massive premium, but has traded over the offer price so market is expecting a possible counter-bid.

With US tech so gangbusters, there's got to be some exit possibilities within GROW.

[kooba] 26/4/2024 09:04

Private equity bid for UK listed cyber company Darktrace things are opening up in tech land it seems ..encouraging that exits might be found in the portfolio.

[thunders] 25/4/2024 13:27

Works fine now on ii

[funkymonks] 23/4/2024 12:01

I am able to buy on ii. Just search for Molten Ventures.

[johnrxx99] 23/4/2024 09:35

As I can't buy or sell them anymore, thanks to ii, I'm closing the link to this thread. If anyone wants changes in the future, please PM me.

GLA

[johnrxx99] 23/4/2024 09:31

European VC success ‘lagging’; the US

The chief financial officer of venture capital business Molten Ventures has warned of a “bifurcation” in the success of venture capital between the US and Europe.

Ben Wilkinson told City A.M. that while US venture capital funds had performed “very well”, the European market “hasn’t quite managed to catch up”, creating a significant lag effect between the two.

Molten Ventures is currently valued at £457m by the market, despite its portfolio of companies being worth £1.4bn, with the significant gap between the two having persisted for some time for the firm.

Sums up the death of the UK post Brexit. What with one of Goldman's leading bankers leaving London for Paris, not a good day for finacials.