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Molten Ventures (GROW) investor relations material
Molten Ventures Q2 2026 TU earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Achieved 5.5% growth in Gross Portfolio Value (GPV) and 7.2% increase in Net Asset Value (NAV) per share for HY26, driven by portfolio management, market comparables, and share buybacks.
Realisations of £62m in HY26, following £135m in FY25, highlight portfolio maturity and depth across technology sectors.
Ongoing focus on narrowing share price discount to NAV with an additional £10m committed to buybacks.
Financial highlights
NAV per share rose to approximately 719p, up from 646p a year earlier and 671p at March 2025; share buybacks contributed 13p to this uplift since March.
GPV reached about £1,425m, up from £1,343m a year ago and £1,367m at March 2025.
GPV fair value uplift of £75m (5.5%) in the first half, excluding FX, led by strong Core portfolio performers and positive funding rounds.
Exits delivered an average 2.0x multiple on invested capital, with notable exits including Revolut (20.0x), Freetrade (1.5x), and Lyst (0.7x).
£33m deployed into new investments, with an additional £11m from managed EIS and VCT funds.
Outlook and guidance
Further realisations are expected in FY26, with active efforts to meet the internal annual target of 10% realisations through the cycle.
Strong pipeline of investment opportunities anticipated within the existing portfolio and broader market.
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