Last checked at 22 Mar 2022 07:44
Edison Investment Research Limited Molten Ventures (GROW): A core tech holding through the cycle 22-March-2022 / 07:43 GMT/BST  London, UK, 22 March 2022  Molten Ventures (GROW): A core tech holding through the cycle Molten Ventures is the leading listed venture capital (VC) in Europe, providing liquid exposure to Europe's high-growth tech start-up ecosystem, through a diversified investment holding company with a proven track record. Following the sell-off of technology and growth stocks, Molten now trades at a 18% discount to the H122 NAV. This is despite Molten delivering a 20% H117-H122 NAV/share CAGR and management's expectations for c 35% fair value growth for FY22 (implying FY22 NAV/share of c 929p). Molten offers a diversified technology portfolio across multiple segments, delivering the potential for NAV returns uncorrelated to the wider public markets. Management is confident in the outlook for the European technology sector and is focused on its Series B+ growth fund in 2022 to capitalise on the opportunity.  Investors are in 'risk-off' mode amid concerns over rising interest rates, elevated geopolitical risks and high technology multiples. After its strong performance FY21-H122, Molten's diversified portfolio and consistent track record of growth (five-year NAV/share CAGR of 20%) demonstrate why we believe the group warrants a premium to its peers, as a leading European VC company, in a sector with the potential to deliver strong growth and NAV returns uncorrelated with the public markets. Molten trades at 0.78x our estimated FY22 NAV per share (c 929p), with the discount to NAV potentially offering an attractive entry point to investors. Click here to view the full report or here to sign up to receive research as it is published.  All reports published by Edison are available to download free of charge from its website www.edisongroup.com About Edison: Edison is a leading research and investor relations consultancy, connecting listed companies to the widest pool of global investors. By focusing on the volume and quality of investors reached - across institutions, family offices, wealth managers and retail investors - Edison can create and gauge intent to purchase, even in the darkest pools of capital, and then make introductions via non-deal roadshows, events or virtual meetings. Having been the first in-market 17 years ago, Edison now has more than 100 analysts covering every economic sector. Headquartered in London, Edison also has offices in New York, Frankfurt, Amsterdam and Tel Aviv and a presence in Athens, Johannesburg and Sydney. Edison is authorised and regulated by the Financial Conduct Authority. Edison is not an adviser or broker-dealer and does not provide investment advice. Edison's reports are not solicitations to buy or sell any securities. For more information, please contact Edison: Richard Williamson +44 (0)20 3077 5700 tech@edisongroup.com Dan Ridsdale +44 (0)20 3077 5729 tech@edisongroup.com Learn more at www.edisongroup.com and connect with Edison on: LinkedIn www.linkedin.com/company/edison-group-/ Twitter www.twitter.com/Edison_Inv_Res YouTube www.youtube.com/edisonitv Dissemination of a CORPORATE NEWS, transmitted by EQS Group.The issuer is solely responsible for the content of this announcement. |
1308095 22-March-2022Â
corporate announcement transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement.