Molten Ventures PLC Investment Update

TIDMGROW

Molten Ventures PLC

18 May 2022

18 May 2022

Molten Ventures Plc

("Molten", the "Group" or the "Company")

Investment Update

Further to its announcement on 9 March, Molten (LSE: GROW, Euronext Dublin: GRW), a leading venture capital firm investing in and developing high growth digital technology businesses, is pleased to confirm that its portfolio company, Thought Machine, has now announced a series D funding round raising $160 million at a valuation of $2.7 billion. This represents a 100% increase from the valuation at the close of its series C round in 2021, in which Molten participated.

This investment round will fund Thought Machine's continued global expansion plans, including further expansion into Asia Pacific and Latin America. Proceeds from the funding round will also be used to continue investing in its technology - expanding the capabilities of its core banking platform and innovating in new product lines. Thought Machine's core banking platform Vault Core is developed natively for the cloud and is strongly positioned to support large-scale banks undertaking core transformation, as well as smaller banks and fintechs launching new propositions to the market

An uplift in Thought Machine's valuation was anticipated in Molten's trading update released on 28 April 2022 which highlighted an expected NAV per share of not less than 929p. The carrying value of Molten's holding in Thought Machine will be finalised as part of the ongoing year-end process in the Final Results scheduled for 13 June 2022. Alongside the recent announcement of Aiven's Series D funding round, this round provides further confirmation of the scale and funding capabilities of Molten's portfolio.

-ENDS -

Enquiries:

 
Molten Ventures plc 
 Martin Davis (Chief Executive Officer) 
 Ben Wilkinson (Chief Financial           [phone] 
 Officer)                                  8800 
Numis Securities 
 Joint Financial Adviser and Corporate 
 Broker 
 Simon Willis 
 Richard Thomas                           [phone] 
 Jamie Loughborough                        1000 
Goodbody Stockbrokers 
 Joint Financial Adviser and Corporate 
 Broker, 
 Euronext Dublin Sponsor 
 Don Harrington 
 Charlotte Craigie                        [phone] 
 Linda Clarke                              6202 
Powerscourt 
 Public relations 
 Robin O'Kelly                            [phone] / 
 Jane Glover                               [phone] 
 

About Molten Ventures

Molten Ventures (LSE: GROW, Euronext Dublin: GRW) is one of the most active venture capital firms in Europe, developing and investing in disruptive, high growth technology companies. We believe it is our role to support the visionary entrepreneurs who will invent the future. We fuel their growth with our 'energy' in the form of long-term capital, access to international networks and decades of experience building businesses.

As at 30 September 2021, Molten Ventures is a shareholder in a diverse portfolio of 70+ companies with 17 of those part of our core portfolio which accounts for 68% of our holdings. Our core companies include Trustpilot, Graphcore, Revolut, Ledger, and Aiven. We invest across four sectors: Consumer Technology, Enterprise Technology, Hardware and Deeptech, and Digital Health and Wellness, with highly experienced partners constantly looking for new opportunities in each. We look for high-growth companies operating in new markets, with a serious potential for global expansion, strong IP, powerful technology, and management teams to deliver success. We also look for businesses with the potential to generate strong margins to ensure rapid, sustainable growth in substantial addressable markets.

Molten Ventures provides an opportunity for public market investors to access these fast-growing tech businesses, without having to commit to long term investments with limited liquidity. Since turning public in June 2016, we have deployed over GBP700m capital the portfolio and have realised over GBP380m to 30 September 2021.

For more information, go to: https://www.moltenventures.com/

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May 18, 2022 04:43 ET (08:43 GMT)