(Sharecast News) - Venture capital firm Molten Ventures updated the market on its investment in Perkbox on Monday, after Great Hill Partners announced the merger of Vivup and Perkbox as well as an infusion of investment from the growth equity firm.
The London-listed firm said that as a result, pending approval from the Financial Conduct Authority (FCA) for the change of control, Molten would divest its stake in Perkbox.
Benefits and reward platform Perkbox had been under Molten's portfolio since its initial investment in 2016.
It is currently positioned just outside the core portfolio in its reporting, and Molten reported that the transaction placed Perkbox's valuation slightly above Molten's holding value within the group.
At 0905 GMT, Molten Ventures shares were down 1.49% at 252p.
Reporting by Josh White for Sharecast.com.
Molten Ventures (GROW)