Investment Update (1597659)
March 31 2023 - 1:00AM
UK Regulatory
Molten Ventures Plc (GROW; GRW) Investment Update 31-March-2023
/ 07:00 GMT/BST
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31 March 2023
Molten Ventures Plc
("Molten", the "Group" or the "Company")
Investment Update
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, Ledger, the leading global platform for digital assets and
Web3, yesterday announced the close of its Series C extension
round.
The extension round maintains Ledger's valuation at EUR1.3
billion, and was well supported by new and existing investors.
Molten participated in the funding round alongside new investors
True Global Ventures, Cite Gestion SPV, Digital Finance Group and
VaynerFund. Existing investors including 10T, Cap Horn, Morgan
Creek, Cathay Innovation and Korelya Capital also continued their
support.
Ledger continues to grow rapidly with recent cryptocurrency
newsflow highlighting the importance of secure consumer devices.
Ledger has sold over six million devices, securing more than 25% of
the world's cryptocurrencies and over 30% of the world's NFTs. This
extension round will enable Ledger to further its global ambitions
and accelerate its drive to support blockchain innovation. The
company recently announced that the demand for its Ledger Stax
device, launched in December 2022, had already exceeded supply,
making it the most successful product launch in Ledger's
history.
Elsewhere in the Molten portfolio, satellite launch service
company Isar Aerospace recently announced the closing of its Series
C round raising USD165m and metaverse startup, Hadean, closed its
Series A round with an additional USD5m, bringing its total raise
to USD35m.
All three fundraising rounds took place at valuations that are
supportive of Molten's fair value holdings as at 30 September
2022.
Martin Davis, Chief Executive Officer of Molten Ventures,
commented:
"This latest round is testament to the strength of Ledger's
business and its revolutionary technology that will continue to
play a critical role in the future of crypto assets and
blockchain.
Together with Isar Aerospace and Hadean, all three rounds
demonstrate the quality of our portfolio, and the ability of our
companies to maintain or increase valuations and attract financing
even in challenging environments."
-ENDS -
Enquiries:
Molten Ventures plc
Martin Davis (Chief Executive Officer) +44 (0)20 7931 8800
Ben Wilkinson (Chief Financial Officer)
Numis Securities
Joint Financial Adviser and Corporate Broker
Simon Willis
+44 (0)20 7260 1000
Jamie Loughborough
Havish Patel
Iqra Amin
Goodbody Stockbrokers
Joint Financial Adviser and Corporate Broker,
Euronext Dublin Sponsor
+44 (0) 20 3841 6202
Don Harrington
Charlotte Craigie
Dearbhla Gallagher
Powerscourt
Public relations +44 (0)7970 246 725 /
Elly Williamson +44 (0)7713 246 126
Jane Glover
About Molten Ventures
Molten Ventures is a leading venture capital firm in Europe,
developing and investing in disruptive, high growth technology
companies. We inject visionary companies with energy to help them
to transform and grow. This energy comes in many forms - capital,
of course, but also knowledge, experience, and relationships. We
believe it is our role to support the entrepreneurs who will invent
the future, and that future is being built, today, in Europe.
As at 30 September 2022, Molten Ventures had a diverse portfolio
with shareholdings in 78 companies, 21 of which represent our Core
holdings and account for 64% of the Gross Portfolio Value. Our Core
companies include Aiven, Thought Machine, Coachhub, Graphcore, and
Ledger. We invest across four sectors: Enterprise Technology,
Hardware and Deeptech, Consumer Technology, 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 high potential for global expansion,
strong IP, powerful technology, and strong 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 a unique opportunity for public market
investors to access these fast-growing tech businesses, without
having to commit to long term investments with limited liquidity.
Since our IPO in June 2016, we have deployed over GBP970m capital
into fast growing tech companies and have realised over GBP450m to
30 September 2022.
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Group. The issuer is solely responsible for the content of this
announcement.
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ISIN: GB00BY7QYJ50
Category Code: PFU
TIDM: GROW; GRW
LEI Code: 213800IPCR3SAYJWSW10
OAM Categories: 3.1. Additional regulated information required to be disclosed under the laws of a Member State
Sequence No.: 233919
EQS News ID: 1597659
End of Announcement EQS News Service
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