Investment: “Molten Ventures raises £175M”
Molten Ventures, a London-listed venture capital firm that backs companies including Revolut, has announced the £175m first close of its Ventures Growth Fund, led by a £75m cornerstone investment from the British Business Bank.
The cornerstone commitment from the British Business Bank is intended to pave the way for further investors as Molten looks to raise £350m in total for the fund.
Molten Ventures manages approximately £2 billion across its funds and invests in scale-up rounds, targeting Series B and beyond across the UK and Europe. The Ventures Growth Fund will back companies in sectors including space, AI, fintech, quantum, deeptech and hardware, aiming to plug the scale-up gap that frequently leads UK founders to seek overseas capital.
The firm, which also backs Finnish satellite startup Iceye and UK digital bank Zopa, is reportedly in line to manage a separate £1bn government-backed Scale Up Fund focused on Britain’s most promising scale-ups.
The capital raised in the fund’s first close will be deployed to invest in Series B and later-stage companies across the named sectors, with the broader aim of bringing more long-term institutional capital into venture and growth-stage financing so ambitious UK and European technology companies have the backing they need to scale.
“Securing the British Business Bank as a cornerstone investor is a strong endorsement of Molten’s strategy and of the relationship we have built over many years. It also underlines the importance of bringing more long-term institutional capital into venture and Growth, so that ambitious UK and European technology companies have the backing they need to scale.”
