REG-Molten Ventures Plc ICEYE Series F financing

Molten VenturesAnnouncement

Today 07:00

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   Molten Ventures Plc (GROW)
   ICEYE Series F financing

   09-Jun-2026 / 06:59 GMT/BST

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   This announcement contains information  for the purposes  of Article 7  of
   the UK version of Regulation (EU) No 596/2014 ("UK MAR"). Upon publication
   of this announcement, this information is  considered to be in the  public
   domain.

                                        

                              MOLTEN VENTURES PLC

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

                                        

                            ICEYE Series F financing

                                        

        £238m valuation uplift and circa. £22 million secondary proceeds

    

   Molten Ventures (LSE: GROW), a  leading venture capital firm investing  in
   and  developing  high-growth  digital  technology  businesses,  notes  the
   announcement  made  earlier  today  by  its  portfolio  company  ICEYE  Oy
   ("ICEYE") regarding the completion of a Series F financing round. ICEYE is
   a world  leader in  sovereign  intelligence from  space and  operates  the
   world’s largest and most advanced SAR (Synthetic Aperture Radar) satellite
   constellation.

    

   Transaction summary

    

   ICEYE has raised approximately  €450 million ($520  million) in a  primary
   Series F funding round led by General Atlantic. Together with a  secondary
   placement, the total Series  F transaction exceeds  €1 billion and  values
   ICEYE at a primary valuation of over €10 billion ($12 billion).

    

   Impact on Molten

    

   At the  value  of the  Series  F, Molten’s  holding  value in  ICEYE  will
   increase to £317 million, representing  an uplift of £238 million  (+236%)
   from the 31  March 2026 holding  value. As  part of the  round Molten  has
   realised a further  circa. £22  million. The new  implied Gross  Portfolio
   Value (“GPV”) of £317 million is after the proceeds of the secondary sale.

    

   This uplift would increase Molten's GPV  by approximately 16% and its  Net
   Asset Value per share  by approximately 117 pence,  from 760 pence to  877
   pence.

    

   In  2025,  ICEYE  scaled   growth,  profitability,  and  cash   generation
   surpassing €250 million in revenue,  topping over €100 million in  EBITDA,
   and securing a contracted  order book worth over  €1.5 billion. Output  is
   set to  climb from  50 satellites  a year  to 100  by 2028,  matched by  a
   comparable launch cadence.

    

   Relationship to today's annual results

    

   The Series F  transaction completed  after the  balance sheet  date of  31
   March 2026  and is  therefore a  non-adjusting post  balance sheet  event.
   Accordingly, the  impact  described above  is  not reflected  in  Molten’s
   audited net asset value  as at 31 March  2026 announced separately by  the
   Company today.  The next  scheduled  Net Asset  Value reporting  point  is
   Molten's interim trading update which is scheduled for release in  October
   2026.

    

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

    

   "When we first backed ICEYE in 2018,  we saw a team with the ambition  and
   capability to redefine  European deep  tech. Today's  announcement, at  an
   over €10 billion valuation,  is a powerful  validation of that  conviction
   and places  ICEYE  firmly  among Europe's  most  consequential  technology
   companies. In an era where sovereign, space-based intelligence has shifted
   from a  strategic  asset  to  a national  imperative,  ICEYE  is  uniquely
   positioned at the heart of that demand.

    

   This is also a milestone for Molten. ICEYE becomes our second decacorn  to
   date, which  is a  great reflection  of our  long-held belief  in  backing
   European technology champions at their earliest stages. Over the past year
   there has  been a  distinct shift  with the  recognition of  the need  for
   technological  sovereignty;  Molten’s  portfolio  of  European   high-tech
   companies is well placed to provide the resilience that is required across
   technology platforms. We are proud to remain long-standing shareholders as
   ICEYE enters its next phase of growth."

    

    

    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

   Joshua Hughes                                +44 (0)20 7260 1000

   Liam Kingsmill

    
   Berenberg

   Joint Financial Adviser and Corporate Broker

   Ben Wright
                                                +44 (0)20 3207 7800
   Harry Nicholas

   Mark Whitmore

    
   Sodali & Co

   Public relations                             +44 (0)7889 297 217

   Elly Williamson                               2 molten@sodali.com

   Sam Austrums

    

    

   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 Technology; and Digital Health, with highly experienced
   partners constantly looking for new opportunities in each.

   Listed on the  London Stock  Exchange, 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 its IPO in June 2016, Molten has deployed over £1 billion
   of capital into  fast growing tech  companies and has  realised more  than
   £750 million to 31 March 2026.

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

    

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   Dissemination of a Regulatory Announcement that contains inside
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   The issuer is solely responsible for the content of this announcement.

   View original content:  5 EQS News

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   ISIN:          GB00BY7QYJ50
   Category Code: MSCL
   TIDM:          GROW
   LEI Code:      213800IPCR3SAYJWSW10
   Sequence No.:  430594
   EQS News ID:   2341816


    
   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=cb408b1ceda3ff115cda1adbf609cefa&application_id=2341816&site_id=reuters~~~787b94c3-8286-43cc-98b3-26b1dc52d810&application_name=news
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