Molten Ventures plc announced on 07 September 2026 the first close of its new Growth Fund at £175 million. The fund includes a £75 million cornerstone commitment from the British Business Bank and a £100 million commitment from Molten Ventures itself. The vehicle is targeting a final size of £350 million and will provide additional capital for Series B and later investments in high-growth UK and European technology companies.
Initial Commitments and Fund Structure
The British Business Bank has committed £75 million as cornerstone investor, while Molten Ventures has committed the remaining £100 million of the first close. The Growth Fund continues Molten's existing investment strategy focused on Series B and later stage deals, with a track record of more than 40 transactions and over £700 million invested over the past ten years. Molten will continue to seek additional investors as it works toward the £350 million target.
Targeting a Critical Funding Gap
The Growth Fund is central to Molten's strategy of building scale through additional third-party capital under management. It will operate as a dedicated institutional funding source alongside the listed platform, enabling the company to increase the volume of later stage rounds in high-growth technology businesses. Molten identifies this as a critical funding gap in the UK and European market, where the opportunity to generate strong returns has already been proven.
Leveraging an Established Platform
Molten's platform already includes the operational, governance and reporting infrastructure of an institutional-grade European venture capital investor. The Growth Fund represents the next step in layering third-party capital onto that platform, allowing the firm to do more with more. Molten currently views itself as capital constrained rather than opportunity constrained, which supports the case for expanding its fund range.
Investor Endorsement and Strategic Relationships
The British Business Bank's commitment reflects the strength of the Growth Fund proposition and the long-standing relationship between the two organisations. The Bank has been an investor in Molten's listed platform since 2018 and has co-invested alongside the firm in companies including SatVu, IMU Biosciences, Thought Machine and Paragraf. Those examples illustrate the profile of company the Growth Fund is designed to back through Series B and beyond.
Leadership Views on the First Close
Molten Ventures Chief Executive Officer Ben Wilkinson described the cornerstone investment as a strong endorsement of the firm's strategy and its relationship with the British Business Bank. He added that the fund underlines the importance of bringing more long-term institutional capital into venture and growth investing. Senior Partner Franco Danesi said the commitment provides real momentum toward the £350 million target and gives investors access to Molten's thesis-driven approach and differentiated origination engine.
Backing the Next Generation of Technology
The Growth Fund will invest in companies at the forefront of innovation across sectors including Space, AI, Fintech, Quantum, Deeptech and Hardware. It aims to provide the liquidity these companies need to compete globally while giving Molten greater ability to build meaningful ownership positions in high-conviction businesses. Robert Greenwood, Senior Director for Funds at the British Business Bank, said the commitment is part of a strategy to create deeper pools of late-stage capital for breakthrough technologies and help tech entrepreneurs scale faster.
The first close of the Molten Ventures Growth Fund marks a significant step in expanding institutional capital for UK and European technology scale-ups. With £175 million secured and a clear target of £350 million, Molten is positioned to support more companies at a stage where growth capital is often scarce. The initiative reinforces confidence in the region's technology sector and its ability to produce global leaders.