Molten Ventures sees portfolio value jump 27% in six months

Technology-focused VC firm reports portfolio value of €1.6bn

 

Technology-focused venture capital (VC) firm Molten Ventures, formerly Draper Esprit, has grown its portfolio value by 27 per cent in six months.

Announcing interim results, the company said its portfolio value across all investments was £1.35 billion (€1.6 billion) at the end of September, up from £984 million at the end of March.

Profit after tax was £218 million for the six-month period, up from £54 million for the same period last year.

The VC firm recently rebranded itself to reflect what it said was accelerated growth. It was also recently admitted to the FTSE 250 with a market capitalisation of more than £1.6 billion.

The firm also announced on Monday that it had taken part in a $200 million (€177.5 million) funding round in cloud native core banking technology firm Thought Machine. The new round sees Thought Machine, founded in 2014 by former Google engineer Paul Taylor, achieve unicorn status.

“While we cannot be certain about what the future holds in the technology landscape, I am confident in venture capital as an asset class and in our strategy, enhanced investment platform, and diversified, resilient portfolio which spans climate tech to health tech and fintech,” said Molten chief executive Martin Davis.