Business
Investment Update
Investment Update.
About this update from Molten Ventures Plc
[{"type":"text","content":"\n \n\n\nMolten Ventures Plc (GROW; GRW)\n\n\n\nInvestment Update31-March-2023 / 07:00 GMT/BST\n\n31 March 2023 \n\nMolten Ventures Plc\n\n(“Molten”, the “Group” or the “Company”)\n\n \n\nInvestment Update\n\n \n\nMolten (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. \n\nThe extension round maintains Ledger's valuation at €1.3 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.\n\nLedger 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. \n\nElsewhere in the Molten portfolio, satellite launch service company Isar Aerospace recently announced the closing of its Series C round raising $165m and metaverse startup, Hadean, closed its Series A round with an additional $5m, bringing its total raise to $35m. \n\nAll three fundraising rounds took place at valuations that are supportive of Molten’s fair value holdings as at 30 September 2022. \n\n \n\nMartin Davis, Chief Executive Officer of Molten Ventures, commented:\n\n“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.\n\nTogether with Isar Aerospace and Hadean, all three rounds demonstrate the quality of our portfolio, and the ability of our companies to maintain or increase va...