LONDON (ShareCast) - (Sharecast News) - Venture capital firm Molten Ventures said on Thursday that it has acquired a majority secondary position in the first fund of Connect Ventures, a 2012 Vintage Fund containing a portfolio of eight minority positions in businesses across Europe.
Molten Ventures said it had acquired approximately 97% of the fund for roughly £18.6m.

Of the fund's eight assets, approximately 85% of the value was driven by Typeform, a platform for forms and surveys, and Soldo, a payment and spend automation platform.

The FTSE 250-listed group said the acquisition was in line with its previously communicated strategy to access exceptional secondary investments at attractive relative valuations.

Molten Ventures added that it does not envisage any further funding to be necessary for the underlying portfolio companies.

Chief executive Martin Davis said: "This latest secondary acquisition is a testament to the strength of our network, with existing Connect Ventures funds already part of our Fund of Funds programme. Following a series of strong realisations combined with our available resources, Molten is well-positioned to take advantage of these opportunities."

As of 0815 BST, Molten Ventures shares were up 1.50% at 399.42p.









Reporting by Iain Gilbert at Sharecast.com

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