Molten Ventures VCT plc LEI: 2138003I9Q1QPDSQ9Z97 NAV and Portfolio Update 28 September 2023
Molten Ventures VCT plc (“the Company”) announces that the unaudited Net Asset Value of the Company at 31 July 2023 was 50.9p per share.
The unaudited Balance Sheet of the Company at 31 July 2023 is as follows:
£’000
Investments
Venture capital investments
88,351
Current assets
Debtors
561
Cash at Bank
5,091
Money Market Fund investments
30,000
35,652
Creditors: amounts due less than one year
(133)
Net current assets
35,519
Net Assets
123,870
Capital & Reserves
Called up share capital
12,169
Capital redemption reserve
32
Share premium
25,445
Special reserve
64,228
Capital reserve - unrealised
25,598
Capital reserve - realised
(1,217)
Revenue reserve
(2,385)
Total shareholders' funds
123,870
The unaudited investment portfolio at 31 July 2023 is summarised as follows:
Total
% by
Unrealised
value of
Cost
Value
Gain/(Loss)
Net assets
£’000
£’000
£’000
Thought Machine Group Limited
2,400
10,300
7,900
8.3%
Endomagnetics Limited
2,147
8,635
6,488
7.0%
Form3 UK Limited
1,420
6,606
5,186
5.3%
Focal Point Positioning Limited
3,300
5,561
2,261
4.5%
River Lane Research Limited
2,661
4,113
1,453
3.3%
Global Satellite Health Limited
4,089
4,105
16
3.3%
IESO Digital Health Limited
3,567
3,878
311
3.1%
Evonetix Limited
2,999
3,383
383
2.7%
Morressier GmbH
3,162
3,162
-
2.5%
Expanding Circle Ltd
2,931
2,931
-
2.4%
Juliand Digital Limited
2,439
2,439
-
2.0%
Apperio Limited
1,597
2,052
455
1.7%
Impulse Innovations Limited
2,079
1,953
(126)
1.6%
Hadean Supercomputing Limited
1,775
1,938
163
1.6%
Worldr Technologies Limited
1,697
1,697
-
1.4%
Other Molten Ventures Investments
20,600
13,505
(7,097)
10.9%
Legacy Elderstreet Investments
Fords Packaging Top Co Ltd
2,433
5,867
3,434
4.7%
Access Intelligence PLC
2,586
4,488
1,901
3.6%
Macranet Limited
1,187
1,187
-
1.0%
Cashfac plc
260
525
265
0.4%
Other legacy investments
4,437
26
(4,411)
0.0%
Cash at bank and in hand and other net current assets
35,519
28.7%
-
Total
69,766
123,870
18,582
100.0%
Unquoted investments are valued at their valuation from the most recent valuation exercise being as at 31 March 2023 or calibrated to the price of recent investment if the investment was made post 31 March 2023. Quoted investments are valued at bid price as at 31 July 2023.
Molten Ventures VCT PLC is a United Kingdom-based investment company. The Companyâs investment objectives are to provide long-term tax-free returns to shareholders through a combination of dividends and capital growth; invest in a diversified portfolio of smaller unquoted companies with a particular focus on the technology sector and target annual dividends of 5% of net asset value per share (subject to liquidity and regulatory factors). The Company invests in various sectors, such as enterprise and consumer technology, differentiated operating systems, machine learning and digital healthcare. The Company's investment manager is Elderstreet Investments Limited.