Molten Ventures Plc: Exit and Portfolio Update

DJ Exit and Portfolio Update

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 USD154 million. 
The transaction is expected to complete before the end of April 2025, delivering expected proceeds of c.GBP9 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.GBP30 million of realisation proceeds from exits above the latest reported NAV in both Lyst and Freetrade. 
Total realisation proceeds for FY25 equated to c.GBP135 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.GBP7 million as part of a company-led secondary transaction at a headline valuation of USD45 billion, 25% above the last 
reported NAV. 
The strong level of realisations, comfortably exceeding the original guidance provided of GBP100 million, has enabled the 
Group to complete a GBP15 million buyback in FY25 and to extend that programme by a further GBP15 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 
                       [phone] 
Ben Wilkinson (Chief Executive Officer) 
                       [e-mail] 
Andrew Zimmermann (Chief Financial Officer) 
Deutsche Numis 
Joint Financial Adviser and Corporate Broker 
Simon Willis                 [phone] 
Jamie Loughborough 
Iqra Amin 
Goodbody Stockbrokers 
Joint Financial Adviser and Corporate Broker 
Don Harrington                [phone] 
Tom Nicholson 
William Hall 
Sodali 
                       [phone]/ 
Public relations 
                       [phone] 
Elly Williamson 
                       [e-mail] 
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 GBP1bn capital into fast growing tech companies and has realised over GBP600m to 30 September 2024.

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

----------------------------------------------------------------------------------------------------------------------- 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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(END) Dow Jones Newswires

April 09, 2025 03:00 ET (07:00 GMT)