The big picture: Molten Ventures announced the first close of its Growth Fund at £175 million. The fund is a continuation of Molten’s existing investment strategy for Series B+ companies, with a target to grow to £350 million.
What it will back:
- Investment Stage: The fund will focus on Series B+ investments, aiming to build meaningful ownership positions in high-conviction businesses.
- Sector Focus: It will target companies at the forefront of innovation across key technology sectors, including space, AI, FinTech, quantum, DeepTech, and hardware.
- Geographic Scope: The fund is dedicated to backing ambitious UK and European technology companies, providing them with the liquidity needed to compete globally.
Who is behind it:
Molten Ventures CEO Ben Wilkinson leads the firm. The British Business Bank committed £75 million as a cornerstone investor, building on its prior investments in Molten’s listed platform since 2018. Molten Ventures itself committed the remaining £100 million of the first close. The firm has a track record of over 40 growth-profile deals and more than £700 million invested over the past decade.
The catch: The fund aims to address a persistent challenge in the UK and European tech ecosystem: a shortage of sufficient growth capital for ambitious companies to scale into global leaders. While Molten Ventures has a strong track record, the competitive landscape for Series B+ investments remains intense, requiring strategic deployment to secure meaningful ownership positions and deliver returns.
Key Facts
- Firm: Molten Ventures
- Fund: Growth Fund
- Raised so far: £175M
- Status: First close
- Stage: Series B+
- Focus: space, AI, FinTech, quantum, DeepTech, hardware
- Geography: UK and Europe
- Anchor LPs: British Business Bank, Molten Ventures
- Partner: Ben Wilkinson
