Molten Ventures, a technology-focused venture capital firm, has secured a new £180 million debt facility, effective from September 7th, 2024. J.P. Morgan Chase Bank and HSBC Innovation Banking have provided this facility, which includes a £120m term loan and a revolving credit facility of up to £60m for a three-year tenor. The new debt facility replaces the current £150m facility with JPM and HSBCIB. The portfolio’s valuation will continue to be subject to periodic third-party valuation, and the facility will be used for full repayment of the £90m drawn term loan component of the current facility, investment, and corporate purposes.
Additionally, Molten Ventures has commenced a share buyback programme of £10m after receiving over £70m in proceeds from realisations from Perkbox, Graphcore, and Endomag. CEO Martin Davis said, “Today’s confirmation of our exit from Endomag takes us to over £70m of the £100m in realisations we anticipate for the current financial year, which underpins our stated capital allocation strategy, and in particular the buyback which we are commencing today.” The company’s new debt facility demonstrates its prudent capital management and confidence in its net asset value.
Molten Ventures is committed to delivering what it has promised and will continue to update shareholders in the future.
