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November 28, 2023

Molten Ventures Sparks a £41.4 Million Flame with Forward Partners Acquisition

Molten Ventures takes center with its sizzling acquisition of VC powerhouse Forward Partners for a cool £41.4 million

In a financial blaze of brilliance, Molten Ventures has set the stage ablaze with its acquisition of London LSE-listed VC firm Forward Partners, marking a deal valued at an impressive £41.4 million. The fusion brings together two formidable forces, adding 43 vibrant portfolio companies, including standout names like Bea Fertility, Gravity Sketch, and Robin AI, to Molten's dynamic roster. As the flames of this venture burn bright, Molten CEO Martin Davis envisions a synergistic journey, leveraging their collective resources and networks to navigate the thriving venture capital landscape.

This acquisition holds a poetic touch as Forward Partners, founded in 2013 by former Molten (then Draper Esprit) partner Nic Brisbourne, now returns to its roots. With notable exits like Cazoo, Skimlinks, and Airsupply, Forward Partners' journey comes full circle, converging with the entity that played a pivotal role in its early days.

Simultaneously announcing the acquisition, Molten Ventures unveils ambitious plans to raise £50 million through a placement on the London Stock Exchange (LSE) and Euronext Dublin. The forward-looking move includes key players like Blackrock, Forward Partners' largest shareholder, subscribing up to £25 million, and British Patient Capital committing £10 million. The infusion aims to fortify Molten's financial foundation, enabling enhanced operational flexibility and positioning the firm strategically in the current venture capital landscape.

As Molten Ventures completes its non-pre-emptive Placing and Subscription, successfully raising £55 million, the flames of financial prowess burn brighter than ever. The acquisition of Forward Partners not only expands Molten's portfolio but also reinforces its balance sheet, providing over £100 million in liquidity. In a landscape where venture capital opportunities abound, Molten Ventures emerges as a formidable player, poised to navigate the exciting possibilities that lie ahead.

Neil Hodgson Coyle
Neil Hodgson-Coyle
Editorial chief at TechNews180
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