Molten establishes three-people dedicated secondary investment team
Molten Ventures PLC on Wednesday said it is appointing three people as it has established a dedicated secondary investment team.
The London-based tech-focused venture capital firm said Malcolm Ferguson, Nick Sando, and Steven Mendel are joining the firm to build ‘a dedicated approach to an increasingly important part of the private markets ecosystem, as companies stay private for longer and demand for liquidity solutions continues to grow’.
Ferguson and Sando join Molten Ventures from Octopus Ventures, where they invested into high-growth companies in early stages, advising founders on strategic issues, including cap table management and liquidity.
Mendel is co-founder and former chief executive officer of ManyPets Ltd, the pet insurance firm which gained unicorn status. ‘This gave him direct experience of the liquidity challenges faced by founders, employees and early investors in fast-growing private companies’, Molten said.
The team will focus on raising a dedicated third-party secondary fund to co-invest alongside Molten’s balance sheet, the company said, building on its ‘track record of acquiring companies...with nearer-term realisation opportunities’ and supporting its strategic priorities of building scale and expanding third-party capital.
Molten’s Chief Executive Officer Ben Wilkinson said: ‘Secondaries are an important part of our platform, complementing our strategic emphasis on Series A and B opportunities by providing access to high-quality, later-stage assets with more immediate pathways to liquidity. Building a dedicated team to leverage our existing platform is a natural next step as we scale this capability, deepen origination across the European venture ecosystem and continue to deliver disciplined, net asset value accretive capital deployment for shareholders.’
Molten shares were up 2.8% to 455.60 pence each on Wednesday morning in London.
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