Molten Ventures VCT plc · LSE:MVCT
Molten Ventures VCT — Molten Ventures — Investor Presentation (November 2023)
11 slides from Molten Ventures VCT's investor presentation, November 2023
Slide 1: Molten Ventures plc investor flyer
investor flyer Molten Ventures plc Your capital is at risk 1
Slide 2: An introduction
An introduction Molten Ventures plc1 (Molten or the Company) is a venture capital (VC) investor in privately held, rapidly growing technology companies in the UK and Europe. In addition to their investment activities, Molten also operates as an investment manager for third-party capital, generating
Slide 3: Molten has built a strong track record since IPO
Molten has built a strong track record since IPO Delivering significant positive NAV1 progression since inception NAV NAV per share £1,600m 937 p 1,000 p £1,434m 900 p £1,400m 780 p 735 p 743 p £1,194m 800 p £1,124m £1,200m £1,033m Year-end NAV per share 700 p £1,000m Year-end NAV 555 p 600 p 524 p
Slide 4: Returns have been distributed across a variety of investments
Returns have been distributed across a variety of investments Returns Multiple1 No return/valued at 0x < 1x 1x < 3x 3x+ 5 4 % of Invested Capital2 12% 24% 24% 40% Return Proceeds -3 £17m £90m £377m Source: Molten Ventures Interim Results Investor Presentation, November 2023 Note: Past performance is
Slide 5: Molten: a snapshot of recent results
Molten: a snapshot of recent results Half-year results to September 2023 Key financials as at 30 September 2023 NAV per share 735p Net asset value bridge2 (£m) and discount to NAV SHARE PRICE (AS OF 17 November 2023)1 259.6p 1250 £1194m SHARE PRICE DISCOUNT TO NAV -65% -£56m -£14m £1124m CALENDAR -6
Slide 6: Why is Molten raising capital?
Why is Molten raising capital? The Board believes the current market Purchase secondary assets1 at valuations the Board believes dislocation is presenting a number of are attractive; opportunities, particularly in the secondary market. Provide follow-on capital in the enlarged portfolio2 and take ad
Slide 7: Transaction overview
Transaction overview Molten plans to raise c.£50m at 270p Blackrock has committed up to £25m at the placing price of 270p British Patient Capital has subscribed for £10m at the placing price of 270p The new shares equate to 12% of the issued share capital The Placing is subject to a shareholder vote
Slide 8: Why is Molten acquiring Forward Partners?
Why is Molten acquiring Forward Partners? Forward Partners is a London-listed VC firm specialising in KEY STATISTICS1 supporting Seed and early-stage technology businesses in the UK. The Company has been making VC investments for ten years (mostly as an unlisted vehicle) and receives thousands of st
Slide 9: Risk Factors
Risk Factors 01 02 03 Early stage Valuations are Realisation investments subject to change proceeds Many of Molten's investments are in early stage Molten’s investments include securities for which no or There can be no guarantee as to when an companies. There is no certainty that any of the only a
Slide 10: Appendix: portfolio downside protection
Appendix Percentage of portfolio with downside protection1 97% 97% of Molten’s portfolio investments are protected by favourable 44% preference structures Portfolio invesments with Valuations currently triggering downside protection preference stack protection Preferred equity (or preference shares)
Slide 11: Risk warning Disclaimer
Risk warning Investing in securities involves a significant degree of risk including loss of capital, rarity of dividends, lack of The distribution of this document may be restricted by law in certain jurisdictions and any failure to comply with these liquidity and should only be done as part of a d
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