Company Announcements

7 September 2022 

Molten Ventures plc

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

Refinancing of Debt Facility

Molten Ventures plc (LSE: GROW, Euronext Growth: GRW), a leading venture capital firm investing in and developing high growth digital technology businesses, is pleased to announce that it has agreed a new £150m net asset value ("NAV") facility with J.P. Morgan Chase Bank, N.A. ("JPM") and Silicon Valley Bank ("SVB") (the "Debt Facility").The Debt Facility comprises a £90m term loan and a revolving credit facility ("RCF") of up to £60m on three-and two-year tenors respectively, both with one-year extensions up to five years, and is secured against various assets and LP interests in the Group. The Debt Facility's interest rate is SONIA plus a margin of 5.5% per annum.

The Debt Facility is underpinned by the value of the investment portfolio and the drawdown is subject to a maximum loan to value ratio of 10%. The value of the portfolio companies is subject to periodic independent third party valuation, the first of which has been conducted for the outset of the facility with valuations as at end June 2022. The Debt Facility will be utilised for investment and corporate purposes and repays in full the Company's existing £65m facility with SVB and Investec.

Martin Davis, Chief Executive Officer of Molten, commented:

"We had signalled the expansion of the debt facility in the full year results and are pleased to enter this new relationship with JPM alongside the continued support of SVB to secure further investment capital for the Company. The Debt Facility has been scaled to realign our capital structure with our previously stated target of 10% of portfolio value and provides increased funding flexibility."

-ENDS-

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About Molten Ventures

Molten Ventures is one of the most active venture capital firms in Europe, developing and investing in disruptive, high growth technology companies. We believe it is our role to support the visionary entrepreneurs who will invent the future. We fuel their growth with our "energy" in the form of long-term capital, access to international networks and decades of experience building businesses.

As at 31 March 2022, Molten Ventures had a diverse portfolio with shareholdings in 69 companies, 21 of which represent our core holdings and account for 68% of the total portfolio value. Our core companies include Graphcore, Ledger, Revolut, Aiven, and CoachHub. We invest across four sectors: Consumer Technology, Enterprise Technology, Hardware and Deeptech, 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 high potential 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 £865m capital into fast growing tech companies and have realised over £439m to 31 March 2022.

For more information, go to https://www.moltenventures.com/