Molten Ventures on Thursday said its portfolio remains ‘robust’, as it expects to report a higher net asset value per share at the end of the first half of its financial year.
The London-based venture capital firm estimated a NAV per share of 719 pence at September 30, up 7.2% from 671p at March 31.
Its shares traded 12% higher at 459.47 pence late Thursday morning in London.
Molten estimated a closing gross portfolio value of £1.43 billion at the end of September, 4.2% higher than £1.37 billion at the year-end.
The firm noted a £62 million loss on realisations during the first half, widened from £59 million in the six months ended March 31. This was offset by an estimated £33 million investment gain, up from £22 million.
Net cash totalled £76 million at September 30, with an additional £23 million in cash available for investment from managed funds, and a £60 million undrawn revolving credit facility for ‘further flexibility.’
The company described its portfolio as ‘robust and resilient, both in terms of funding requirements and revenue growths.’
Chief Executive Ben Wilkinson added: ‘I am confident in the good progress that we have made...We invest at the forefront of a generational shift in technology, with Molten’s portfolio covering key subsectors such as fintech, space, cyber, AI, climate, quantum, digitalhealth, and crypto & blockchain. The portfolio offers considerable potential to deliver some of the category winners of the future.’
To-date, Molten has repurchased £38 million in shares through a buyback programme launched in July 2024. It has committed to ‘an additional £10 million to buybacks to support the ongoing focus on narrowing the share price discount to NAV.’
The company is set to report its interim results on November 25.
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