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Molten Ventures PLC - London-based venture capital firm, which invests in developing high-growth digital businesses - Says its gross proceeds so far in the current financial year from Perkbox, Endomag, Graphcore and M-Files total £124 million, about 9% of gross portfolio value and close to its 10% cycle target. File management platform M-Files has agreed to a majority recapitalisation led by private equity firms Haveli Investments and Bregal Milestone. As part of the deal, Molten will realise its entire investment. The exit values Molten’s stake at £47.7 million and will deliver a 7.4-times multiple on invested capital. Company also notes that portfolio firm Riverlane, a quantum computing firm, has raised $75 million in its Series C funding round at a higher value than it was carried on Molten’s books in March.
Molten’s Chief Executive Officer Martin Davis says: ‘With this latest realisation, we have surpassed the guidance we gave at the time of our full year results in June, of in the region of £100 million in realisations this financial year.’ He adds: ‘The four recent realisations...evidence not only the high quality of our portfolio and the rigour of our valuation methodology but also the more active M&A market, which continues to normalise after two difficult years.’
Current stock price: 381.00 pence, up 3.4% in London on Wednesday
12-month change: up 49%
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