TLDR:
- Molten Ventures has increased the value of its stake in Revolut by 20%, now valuing it at £65.1m
- The company has also made an additional £4m investment into Revolut during its latest reporting period
Article Summary:
Molten Ventures has written up the value of its stake in British fintech Revolut by 20% as of March 2024, now valuing it at £65.1m. The total value of its portfolio has grown to £1.38bn. The London-listed VC firm previously backed Revolut during its $250m Series C round in 2018.
Another investor, Schroders, also wrote up the value of its stake in Revolut by 45% in April. Molten Ventures, in the same report, revealed a 45% decrease in the value of its stake in semiconductor company Graphcore.
The firm’s portfolio includes other companies like Riverlane, Thought Machine, and CoachHub. Molten Ventures invested £65m during the year ended 31 March 2024 and expects a weighted average revenue growth of over 50% for the calendar year 2024.
CEO Martin Davis stated that the underlying performance of their portfolio companies remains strong, with valuations stabilizing as the macroeconomic environment improves. The firm’s current portfolio value remains around 10% less than in 2022.
