MOLTEN VENTURES PLC - Full year results for the 12 months ended 31 March 2026

Molten Ventures plc reported a strong FY2026 investor update, highlighting a 13% increase in gross portfolio value to £1.5 billion and NAV per share growth to 760p, underpinned by robust company performance, disciplined capital allocation, and continued portfolio realisations. Following year-end, portfolio company ICEYE completed a funding round valuing the business at €10 billion, increasing Molten’s implied gross portfolio value to £1.7 billion and NAV per share to 877p. The venture capital investor delivered £120 million of realisation proceeds during the year, supporting new investments, share buybacks, and balance sheet strength, while maintaining operating costs at just 0.5% of NAV. Key portfolio contributors included ICEYE, Revolut, Ledger, Aircall, Riverlane and Isar Aerospace, reflecting exposure to high-growth sectors such as AI, fintech, cybersecurity, quantum computing, space technology and energy transition. Management highlighted accelerating growth across the core portfolio, strong EBITDA generation from select holdings, improving market conditions, and significant opportunities driven by European technology sovereignty and AI adoption. Molten also outlined plans to expand third-party assets under management, launch new growth and secondary funds, and continue its NAV-accretive capital allocation strategy. With a 26% average annual return since IPO, above its 20% target, the company remains focused on long-term value creation, portfolio growth, narrowing the discount to NAV, and capitalising on Europe’s rapidly maturing venture capital ecosystem.