Freetrade Exit and Share Repurchase Programme

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

Freetrade Exit and Share Repurchase Programme

Molten Ventures (LSE: GROW, Euronext Dublin: GRW), a leading venture capital firm investing in and developing high-growth digital technology businesses, today announces that Freetrade, the fast-growing, commission free self-directed investment platform, has agreed terms to be acquired by the FTSE 250 company IG Group (LSE: IGG) which provides online trading platforms and educational resources around the globe.

Molten first invested in Freetrade in the Series A in 2019. This deal values Molten's stake 30% above the 30 September 2024 holding value of £17 million and will deliver a 1.6x multiple on invested capital. Completion is subject to regulatory approvals, with proceeds currently expected in mid-2025.

Including the anticipated proceeds from this transaction, the Group's realisations during the current financial year now stand at over £150 million, subject to regulatory approval, exceeding the original guidance given of £100 million. These realisations have delivered on average a 2.5x multiple on invested capital providing further validation for Molten's valuation process, investment approach and active portfolio management. Molten will continue to deploy proceeds from realisations into exceptional primary and secondary investments.

In line with our previously stated intentions to allocate a minimum of 10% of realisation proceeds towards share buybacks, Molten Ventures intends to commence a further £5 million share repurchase programme (the “Programme”). The Company will continue to keep its capital allocation policy under review, balancing the pipeline of new investment opportunities against the ability to drive returns to shareholders through the Programme whilst maintaining sufficient reserves.

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

"As part of our approach to active portfolio management, we have worked closely with Freetrade over the years to support their growth and success. This exit is a strong start to 2025 for Molten and our ability to back and scale leading digital businesses. The additional capital resources will enable us to commence a further share repurchase programme, recognising the prevailing discounted levels of our shares.”

-ENDS-

 

Enquiries

Molten Ventures plc Ben Wilkinson (Chief Executive Officer) Andrew Zimmermann (Interim Chief Financial Officer)	+44 (0)20 7931 8800 ir@molten.vc
Deutsche Numis Joint Financial Adviser and Corporate Broker Simon Willis Jamie Loughborough Iqra Amin	+44 (0)20 7260 1000
Goodbody Stockbrokers Joint Financial Adviser and Corporate Broker, Euronext Dublin Sponsor Don Harrington Tom Nicholson William Hall	+44 (0) 20 3841 6202
Sodali Public relations Elly Williamson Jane Glover	+44 (0)7970 246 725/ +44 (0)771 324 6126 molten@sodali.com

About Molten Ventures

Molten Ventures is a leading venture capital firm in Europe, developing and investing in disruptive, high growth technology companies. We inject visionary companies with energy to help them transform and grow. This energy comes in many forms - capital, of course, but also knowledge, experience, and relationships. We believe it is our role to support the entrepreneurs who will invent the future, and that future is being built, today, in Europe.

As at 30 September 2024, Molten Ventures had a diverse portfolio with shareholdings in 100+ companies, 18 of which represent our Core Portfolio holdings and account for 61% of the Gross Portfolio Value. Our core companies include Revolut, Thought Machine, Coachhub, Form3, Aiven, Ledger and Aircall. We invest across four sectors: Enterprise Technology, Hardware and Deeptech, Consumer Technology, and Digital Health and Wellness, with highly experienced partners constantly looking for new opportunities in each. We look for high-growth companies operating in new markets, with aspirations for global expansion, strong IP, powerful technology, and strong management teams to deliver success. We also look for businesses with the potential to generate strong margins to ensure rapid, sustainable growth in substantial addressable markets.

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 our IPO in June 2016, we have deployed over £1bn capital into fast growing tech companies and have realised over £600 million to 30 September 2024.

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