London-based Molten Ventures Acquires Forward Partners & secures £55million funding. The proceeds of this Fundraise will allow us to capitalise on attractive primary and secondary investment opportunities as the valuation environment stabilises and continue to back Europe’s most ambitious founders.
A shareholder in Forward Partners since its IPO in July 2021, Molten’s acquisition adds 43 portfolio companies to its roster including Bea Fertility, Gravity Sketch, and Robin AI.
Molten CEO Martin Davis shared: “Forward Partners has a balanced and well-capitalised portfolio of 43 high-quality companies and, through combining our considerable resources, experience and networks, we will be even better placed both to support our existing portfolio companies and to capture attractive investment opportunities amid a buyer’s market for venture capital.”
Coming full circle, Forward Partners was founded in 2013 by former Molten (at the time, Draper Esprit) partner Nic Brisbourne, and counts Cazoo, Skimlinks, and Airsupply, amongst its exited portfolio companies.
Forward Partners’ largest shareholder Blackrock has subscribed to up to £25 million, while British Patient Capital, an existing shareholder in Molten, has agreed to subscribe to £10 million in shares. Additional undisclosed existing Molten shareholders are reported to be supporting the raise.
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The acquisition of Forward Partners and the subsequent placement is aimed at strengthening Molten’s balance sheet, providing the firm with additional operational flexibility, particularly crucial in today’s market.
Following the completion of the issue, Molten is expected to have in excess of £100 million in liquidity, including a revolving credit facility with J.P. Morgan Chase Bank and HSBC.
About Molten Ventures
One of the busiest venture capital organisations in Europe, Molten Ventures develops and finances innovative, rapidly growing technology startups. They think it is their responsibility to assist the forward-thinking businesspeople who will create the future.
With their “energy”—truly patient capital, access to global networks, and decades of business development expertise—they drive their growth.