Molten Ventures, a London-based venture capital firm, has purchased a secondary share in a Seedcamp investment fund for €8.5 million (£7.3 million).
Approximately 19% of Seedcamp’s Fund III, which was established in 2014 with $30 million, was acquired by Molten Ventures.
A few now-well-known internet companies, such as Revolut, Curve, Wefox, and Pleo, are included in the vintage fund.
According to the firm, it has no intention of giving the underlying portfolio companies any further financing. Molten Ventures made this step as part of their plan to obtain “secondary investments at attractive valuations.”
“As we observed when launching our fundraising late last year, the current macroeconomic conditions are an opportunity for Molten Ventures, and we’re pleased to have been able to act quickly to identify and invest in this portfolio of high-quality, later-stage assets.”
Molten Ventures CEO Martin Davis
Previously, Molten Ventures has bought secondary stakes in Digital East Fund I, Earlybird’s DWES Fund IV, and Seedcamp Funds I and II.
Currently, Thought Machine, Ledger, and BeZero Carbon are among the companies in the Molten Ventures portfolio.
