Business
Interim results
Interim results.
About this update from Molten Ventures Plc
[{"type":"text","content":"\n \n \n \n\n\t\n\n\n\n\n\n\n\n\n\n\n\nMolten Ventures Plc (GROW; GRW)\n\n\n\n\n\n\nInterim results 22-Nov-2023 / 07:00 GMT/BST\n\n\nMolten Ventures Plc\n\n(\"Molten Ventures\", \"the Group\" or the \"Company\")\n\n \n\n \n\nINTERIM RESULTS FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2023\n\n \n\nMolten Ventures (LSE: GROW, Euronext Dublin: GRW), a leading venture capital firm investing in and developing disruptive, high growth digital technology businesses, today announces its interim results for the six-month period ended 30 September 2023.\n\n \n\nFINANCIAL HIGHLIGHTS\n\n \n\n£1,299m* Gross Portfolio Value (31 March 2023: £1,371m)\n \n\n£1,124m Net Assets (31 March 2023: £1,194m)\n \n\n735p NAV per share (31 March 2023: 780p)\n \n\n-4%* Gross Portfolio fair value movement (six months to 30 September 2022: -12%)\n \n\n£17m Cash invested in the period by the Company, and a further £35m from the managed EIS/VCT funds (six months to 30 September 2022: £112m from Molten Ventures and £17m from the managed EIS/VCT funds)\n \n\n£25m Consolidated Group cash (31 March 2023: £23m Company cash), and a further £40m available to invest from the managed EIS/VCT funds (31 March 2023: £48m)\n \n\n£33m Cash proceeds from realisations (six months to 30 September 2022: £13m)\n \n\n<1% Operating costs (net of fee income) continue to be substantially less than the targeted 1% of period-end NAV (31 March 2023: 1%)\n \n\n-£72m Loss after tax (loss after tax for the six months to 30 September 2022: -£155m)\n \n\n£150m Debt facility (£90m drawn at 30 September 2023)\n \n\n*The above figures contain alternative performance measures (“APMs”) - see Note 24 for reconciliation of APMs to IFRS measures. See the Glossary below for defined terms.\n\n \n\nPORTFOLIO HIGHLIGHTS\n\n \n\nFive primary investments made with a combined funding of £2 million; £2 million in seven companies for follow-on deals, with a further £8 million invested in Fund of Funds (“FoF”) and £5 million in Earlybird.\n \n\nCommitted to four new seed funds via our Fund of Funds programme, bringing the overall Fund of Funds portfolio to 79 funds.\n \n\nPortfolio remains well funded with more than £467 million of capital raised by its investee companies in the last 12 months, of which over 85% have be...