Molten Ventures secures new £180m debt facility

Team S · 2024-08-01T06:48:33.000Z

Molten Ventures, a technology-focused venture capital firm, has secured a new £180 million debt facility with J.P. Morgan Chase Bank and HSBC Innovation Banking. This facility, effective from September 7, 2024, includes a £120 million term loan and a £60 million revolving credit facility, both with a three-year term. It replaces the existing £150 million facility with the same lenders. The new debt facility will be used to fully repay the £90 million drawn term loan component of the current facility, which is in its final year, as well as for investment and corporate purposes. Additionally, Molten Ventures has initiated a £10 million share buyback program, funded by proceeds from recent realizations, including the sale of stakes in Perkbox, Graphcore, and Endomag, which collectively brought in over £70 million. CEO Martin Davis emphasized that these actions align with the company's capital allocation strategy and demonstrate confidence in their net asset value. The company anticipates further realizations to reach £100 million for the current financial year. #JPMorgan #Graphcore #MoltenVentures #Molten #venturecapital #HSBC

Member Login Get Access

Molten Ventures secures new £180m debt facility | Newnex