REG-Molten Ventures Plc Exit and Portfolio Update

Molten VenturesAnnouncement

09/04/2025 08:15

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   Molten Ventures Plc (GROW; GRW)
   Exit and Portfolio Update

   09-Apr-2025 / 08:00 GMT/BST

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                              Molten Ventures plc
          ("Molten Ventures", "Molten", "the "Group" or the "Company")

                           Exit and Portfolio Update

   Molten Ventures  (LSE:  GROW, Euronext  Dublin:  GRW), a  leading  venture
   capital firm investing  in and developing  high-growth digital  technology
   businesses, notes the  announcement that  ZOZO, Inc.,  which operates  the
   leading fashion  e-commerce  platform  in Japan,  has  acquired  portfolio
   company Lyst, a leading global fashion shopping platform.

   Molten  first  invested  in  Lyst’s  Series  A  in  2012,  with  follow-on
   investments in 2014, 2015 and  2021 during its Series  B, C and E  funding
   rounds. Lyst has  entered into a  definitive agreement to  be acquired  by
   ZOZO, Inc.  for $154  million.  The transaction  is expected  to  complete
   before the end of April 2025, delivering expected proceeds of c.£9 million
   to Molten, 7% above the last reported Net Asset Value (NAV).

   In addition, the previously announced  sale of Freetrade completed in  the
   new financial  year on  1 April  2025 following  regulatory approval.  The
   closing of these  two transactions  ensures Molten starts  FY26 with  good
   momentum and a combined c.£30  million of realisation proceeds from  exits
   above the latest reported NAV in both Lyst and Freetrade.

   Total realisation proceeds for FY25  equated to c.£135 million  (excluding
   Freetrade as the proceeds were received in FY26). These realisations  were
   delivered at an average Multiple on Invested Capital of 1.8x, inclusive of
   exits from M-Files, Endomag, Perkbox, Graphcore and a partial  realisation
   of Revolut, the latter of which generated proceeds of c.£7 million as part
   of a  company-led secondary  transaction at  a headline  valuation of  $45
   billion, 25% above the last reported NAV.

   The strong  level  of  realisations, comfortably  exceeding  the  original
   guidance provided of £100 million, has enabled the Group to complete a £15
   million buyback in  FY25 and  to extend that  programme by  a further  £15
   million, significantly exceeding the initial guidance of a minimum of  10%
   of realisation proceeds being allocated toward share buybacks.

   The Group  will  continue  to review  capital  allocation,  balancing  the
   pipeline of new investment opportunities with the ability to drive returns
   to  shareholders  through  share  buyback  programmes,  while  maintaining
   sufficient reserves.

   Molten will release its full year  trading update for the 12 months  ended
   31 March 2025 (FY25) on 24 April 2025, which will include an updated Gross
   Portfolio  Value   (unaudited)   and  commentary   on   recent   portfolio
   developments.

    Ben Wilkinson, Chief Executive Officer of Molten Ventures, commented:

   "We have a strong portfolio of assets and we actively manage the growth of
   our portfolio alongside a  robust realisation process. Turning  investment
   value to  cash  at the  right  time demonstrates  our  diligent  portfolio
   management and aligns  with our  strategy of preserving  a strong  balance
   sheet while providing liquidity.

   We’ve worked closely with the team at Lyst since 2012, helping the company
   evolve into a leader in fashion  technology. Along with the completion  of
   the Freetrade exit  this marks  a strong  start to  realisations in  FY26,
   building on the positive momentum of exits at or above NAV in FY25.”

   -ENDS-

    

   Enquiries

   Molten Ventures plc
                                                +44 (0)20 7931 8800
   Ben Wilkinson (Chief Executive Officer)
                                                 1 ir@molten.vc
   Andrew Zimmermann (Chief Financial Officer)
   Deutsche Numis

   Joint Financial Adviser and Corporate Broker

   Simon Willis                                 +44 (0)20 7260 1000

   Jamie Loughborough

   Iqra Amin
   Goodbody Stockbrokers

   Joint Financial Adviser and Corporate Broker

   Don Harrington                               +44 (0) 20 3841 6202

   Tom Nicholson

   William Hall
   Sodali
                                                +44 (0)7970 246 725/
   Public relations
                                                +44 (0)771 324 6126
   Elly Williamson
                                                 2 molten@sodali.com  
   Jane Glover

   About Molten Ventures

    

   Molten Ventures is a  leading venture capital  firm in Europe,  developing
   and investing in high growth technology companies.

    

   It invests  across  four  sectors:  Enterprise  &  SaaS;  AI,  Deeptech  &
   Hardware; Consumer; and Digital Health & Wellness with highly  experienced
   partners constantly looking for new opportunities in each.

    

   Listed on the London Stock  Exchange and Euronext Dublin, Molten  Ventures
   provides a unique opportunity for public market investors to access  these
   fast-growing tech  businesses,  without  having to  commit  to  long  term
   investments with limited liquidity. Since the IPO in June 2016, Molten has
   deployed over  £1bn  capital into  fast  growing tech  companies  and  has
   realised over £600m to 30 September 2024.

    

   For                 more                  information,                  go
   to  3 https://investors.moltenventures.com/investor-relations/plc

    

    

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   Dissemination of a Regulatory Announcement, transmitted by EQS Group.
   The issuer is solely responsible for the content of this announcement.

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   ISIN:           GB00BY7QYJ50
   Category Code:  MSCU
   TIDM:           GROW; GRW
   LEI Code:       213800IPCR3SAYJWSW10
   OAM Categories: 3.1. Additional regulated information required to be
                   disclosed under the laws of a Member State
   Sequence No.:   381554
   EQS News ID:    2113582


    
   End of Announcement EQS News Service

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References

   Visible links
   1. mailto:ir@molten.vc
   2. mailto:molten@sodali.com
   3. https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=redirect&url=4de7826a86afe2f8924e951ebd831e27&application_id=2113582&site_id=reuters~~~6aa99418-46f7-48b9-89fd-959a8d2e4912&application_name=news


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