Molten Ventures fair value growth on target after externally led round in portfolio company

Venture capital firm Molten Ventures said on Wednesday that following the closing of an externally led round in a portfolio company, the fair value of its holding had increased by £76.0m based on the value of the round.

The FTSE 250-listed firm, which focusses on investing in and developing high-growth digital technology businesses, said the increase in fair value supported its previously announced year-end guidance of fair value growth in the region of 35%.

Molten Ventures, formerly Draper Esprit, did not disclose the name of the portfolio company in question.