Molten Ventures
Molten Ventures plc (formerly Draper Esprit until November 2021) is a listed permanent-capital venture capital firm founded in 2006 as Esprit Capital, incorporated in England and Wales and listed on the London Stock Exchange under the ticker GROW. The firm invests directly off its own balance sheet in high-growth European technology companies, with a gross portfolio value of GBP 1,367 million as of 31 March 2025. It is a constituent of the FTSE 250 and focuses on software, fintech, deep tech, health tech and climate tech. Molten Ventures Advisors Limited holds FCA firm reference number 971997.
Key facts
Recent exits
Coverage notes
1 fund tracked, 56 portfolio companies (37 active · 19 realized). Verified weekly from public filings and deal announcements.
Sector breakdown
56 companiesFunds & portfolio
Every fund Molten Ventures has raised, with its portfolio companies. Hand-checked from public filings.
Molten Ventures Balance SheetBalance Sheet2016 · 10yr€1.6B37 active · 19 realized
Unrealized
37 held| Company | Sector | Geo | Entry |
|---|---|---|---|
| SaaS |  Ireland | 2022 | |
| SaaS |  France | 2018 | |
| ClimateTech |  UK | 2022 | |
| HealthTech | UK | 2024 | |
| Cybersecurity | Estonia | 2023 | |
| SaaS |  Germany | 2020 | |
| Construction | UK | 2024 | |
| Fintech | UK | 2015 | |
| Biotech | UK | 2018 | |
| Deep Tech | UK | 2021 | |
| Fintech | UK | 2018 | |
| Deep Tech | UK | 2022 | |
| Software | Germany | 2022 | |
| Deep Tech |  Finland | 2019 | |
| Biotech | UK | 2024 | |
| Aerospace & Defence | Germany | 2026 | |
| Cybersecurity | France | 2018 | |
| Fintech | UK | 2026 | |
| Deep Tech | Ireland | 2021 | |
| SaaS |  Sweden | 2022 | |
| Data & Analytics | UK | 2024 | |
| HealthTech | UK | 2023 | |
| TMT | Germany | 2019 | |
| HealthTech | UK | 2024 | |
| HealthTech | UK | 2025 | |
| Data & Analytics |  Spain | 2017 | |
| SaaS | UK | 2025 | |
| Fintech | UK | 2018 | |
| Deep Tech | UK | 2021 | |
| SaaS | Ireland | 2018 | |
| Deep Tech | UK | 2023 | |
| Construction | Germany | 2021 | |
| Software |  Belgium | 2022 | |
| Data & Analytics | UK | 2025 | |
| Fintech | UK | 2020 | |
| Cybersecurity | UK | 2022 | |
| Cybersecurity | Ireland | 2022 |
Ireland· Entry 2022France· Entry 2018UK· Entry 2022UK· Entry 2024Germany· Entry 2020UK· Entry 2024UK· Entry 2015UK· Entry 2018UK· Entry 2021UK· Entry 2018UK· Entry 2022Germany· Entry 2022Finland· Entry 2019UK· Entry 2024Germany· Entry 2026France· Entry 2018UK· Entry 2026Ireland· Entry 2021Sweden· Entry 2022UK· Entry 2024UK· Entry 2023Germany· Entry 2019UK· Entry 2024UK· Entry 2025Spain· Entry 2017UK· Entry 2025UK· Entry 2018UK· Entry 2021Ireland· Entry 2018UK· Entry 2023Germany· Entry 2021Belgium· Entry 2022UK· Entry 2025UK· Entry 2020UK· Entry 2022Ireland· Entry 2022Realized
19 exits| Company | Sector | Geo | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|---|---|
| LegalTech | UK | 2018 | 2025 | Trade Sale | – | ||
| E-commerce | UK | 2020 | 2024 | – | – | – | |
| MedTech | UK | 2018 | 2024 | Trade Sale | |||
| Fintech | UK | 2019 | 2025 | Trade Sale | |||
| AdTech | UK | 2016 | 2018 | Trade Sale | – | ||
| Deep Tech | UK | 2016 | 2024 | Trade Sale | |||
| MedTech | UK | 2021 | 2025 | Trade Sale | – | ||
| E-commerce | UK | 2012 | 2025 | Trade Sale | |||
| Software | Finland | 2013 | 2024 | Secondary | |||
| Deep Tech | Ireland | 2013 | 2016 | Trade Sale | – | ||
| Gaming | Turkey | 2019 | 2020 | Trade Sale | – | ||
| HR Tech | UK | 2017 | 2024 | Trade Sale | |||
| Mobility | UK | 2017 | 2020 | Trade Sale | – | ||
| Fintech | UK | 2020 | 2025 | Trade Sale | – | ||
| SaaS | Ireland | 2020 | 2026 | Trade Sale | – | ||
| SaaS |  Denmark | 2013 | 2021 | IPO | – | – | |
| Software |  United States | 2019 | 2021 | IPO | – | – | |
| Fintech | UK | 2017 | 2021 | IPO | – | – | |
| SaaS | UK | 2023 | 2025 | Trade Sale | – |
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About Molten Ventures
Molten Ventures is the largest publicly-listed pure-play European venture capital firm with approximately £1.38 billion (€1.65 billion) of gross portfolio value as of 31 March 2024 (FY March 2026 GPV expected ~£1.52 billion), headquartered in London with co-listing in Dublin. The firm was founded in 2006 as Esprit Capital Partners before rebranding as Draper Esprit in 2016 and renamed Molten Ventures in 2021. Molten is listed on LSE (GROW) and Euronext Dublin (GRW) as a FTSE 250 constituent.
Investment thesis
Molten Ventures deploys capital across approximately 118 portfolio companies (20 core holdings representing 62% of GPV) plus the Molten Ventures VCT and Molten Ventures EIS vehicles, targeting pan-European venture capital from Seed to Series C+ in high-growth disruptive technology firms. The platform combines direct investment with EIS/VCT fund management and secondary acquisitions of LP interests. Sector focus spans enterprise and SaaS, AI, deep tech and hardware, consumer technology and digital health with sub-verticals across fintech, space tech, cyber, climate tech, quantum and crypto. Geographic deployment spans UK, Ireland, Germany and Nordics core.
Recent activity
Recent realised exits include digital health (2025), fintech (2025), fraud prevention and AI software (2025), information management software (2024), semiconductor and AI chips (2024), medical devices (2024) and HR tech (2024). Recent acquisitions include AI digital pathology (2024), energy markets data (2025), diagnostics (2025), German enterprise software (2025) and secondary fund acquisition of Connect Ventures Fund I (2024). The platform continues active deployment across the listed European VC franchise. Detailed buyer names and multiple data available on Pro at €29/month.
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