Dublin-based Molten Ventures, a leading venture capital firm investing in high-growth digital technology businesses, has achieved a 7.4X return on its investment in M-Files, an intelligent file management platform specialising in AI-powered knowledge work automation. The exit follows regulatory approvals, marking a successful conclusion to Molten’s investment, which began with M-Files’ Series A funding in 2013.
The firm’s total group realisations for the financial year have reached £124 million (£76 million reported for the first six months), surpassing the £100 million guidance set at the start of the year.
Ben Wilkinson, Chief Executive Officer of Molten Ventures, commented: “The highly successful completion of the M-Files exit, along with the other realisations, has generated meaningful cash proceeds that will allow us to take advantage of further attractive investment opportunities.”
Molten’s portfolio speaks for itself – Perkbox, Graphcore, and Endomag
Molten Ventures has demonstrated strong portfolio performance through several successful exits. Perkbox, an employee experience platform, exited with a 1.3X return on investment. Great Hill Partners acquired Perkbox in July 2024, with expected cash proceeds of £18 million — exceeding the previous value of £16.3 million—to be received within 60 days of closing.
Graphcore, a developer of advanced AI hardware, was acquired by SoftBank in October 2024 for over $600 million. Molten Ventures realised approximately $26 million from the exit, delivering a 0.9X return on investment and recovering most but not all of its initial capital.
Endomag, a medical technology company specialising in breast cancer treatment solutions, was acquired by Hologic, Inc. for $310 million. The deal was announced in April 2024 and completed on July 26, 2024. Molten Ventures, which first invested in Endomag in July 2018 and provided follow-on funding in 2020, realised proceeds of about $46 million — slightly above its holding value of approximately £35 million.
Molten Ventures has also made recent investments: Riverlane, a quantum computing company, raised $75 million in Series C funding in July 2024; they acquired 97% of Connect Ventures’ first fund; and they invested in One Data, a SaaS enterprise company that secured a €32 million Series B extension and completed a share-for-share acquisition of Forward Partners plc in March 2024.
Future Prospects
Wilkinson concluded: “While realisations have already exceeded our original expectations for the financial year, with the larger anticipated exits having been completed, there remains the potential for further smaller exits. Our core focus is active portfolio management and driving strong returns for investors.”
Molten Ventures maintains a strong financial position, with a £180 million debt facility secured from major banks, which provides flexibility for future investments. The firm remains optimistic about identifying and supporting high-growth technology companies in the future.
The post Molten Ventures achieves 7.4X return on M-Files exit appeared first on Tech Funding News.