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Molten Ventures shares jump on GPV, NAV gains
(Sharecast News) - Tech investor Molten Ventures on Monday said it expected to report sharp rises in net asset value and gross portfolio value supported by a strong portfolio management and its ongoing share buyback programme. The venture capital specialist forecast GPV and NAV growth of 11% and 13% to £1.5bn and 760p respectively. Shares in the company were up more than 5% in London trade.
"While public market comparables in some sectors experienced pressure, strong performance in the core portfolio, including ICEYE, Revolut, Ledger, and Riverlane, more than offset this," Molten Ventures said.
"Two companies in the emerging portfolio, Modo Energy and Manna, also advanced to the core portfolio following successful funding rounds."
"There continue to be positive industry tailwinds emerging from the move toward European technology sovereignty and resilience, and from initiatives such as the Mansion House Accord as well as broader efforts to increase domestic institutional participation in growth capital," the company said.
Reporting by Frank Prenesti for Sharecast.com
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