Molten Ventures - Crystallising portfolio values

Molten Ventures has already surpassed its £100m realisation target for FY25 (ending March 2025) with exits from Perkbox, Endomag, Graphcore and M-Files, which in aggregate represent £124m in exit proceeds. Consequently, Molten launched a £10m buyback programme in July 2024. All these transactions were agreed at or slightly above the previous carrying values. Molten’s H125 results will likely benefit from Revolut’s recent secondary sale, which values the fintech at US$45bn compared with US$33bn during the previous funding round in July 2021. Finally, several of Molten’s core holdings raised capital this year, providing additional validation points for Molten’s H125 carrying values.