Investment companies – LSE – M cap £640m – Price 344.50p – Update
MOLTEN VENTURES
Investor day: Five strategic priorities outlined
During Molten Ventures’ recent investor day, Ben Wilkinson (who was appointed CEO in October 2024 after serving as Molten’s CFO for eight years) outlined the strategic priorities for the business. These are centred around five initiatives: (1) refocusing on the core business of investing in Series A and B rounds; (2) driving further scale and efficiencies; (3) a selective approach within its fund of funds programme; (4) preserving a strong balance sheet; and (5) narrowing the discount to NAV. Molten announced that it will allocate an additional £15m to share repurchases (on top of the £15m already committed). The total buyback volume is therefore greater than the 10% of realisation proceeds earmarked as part of Molten’s current capital allocation policy. Molten’s board expects to commit further capital for share repurchases if the wide discount to NAV (currently at c 47%) persists.