Molten Ventures Announces Portfolio Exits and Updates

Molten Ventures plc, a leading venture capital firm, has announced the acquisition of its portfolio company, Lyst, by ZOZO, Inc. Lyst, a significant player in the global fashion shopping industry, is set to be sold for $154 million. Molten Ventures, which began investing in Lyst in 2012, anticipates receiving approximately £9 million from the sale, surpassing the reported Net Asset Value (NAV) by 7%.

In addition, the company successfully completed the sale of Freetrade, further enhancing its financial momentum in FY26 with approximately £30 million in exit proceeds. Total realisations for FY25 were around £135 million, with an average Multiple on Invested Capital of 1.8x, from various exits including M-Files and Revolut.

These financial outcomes have allowed Molten to execute a £15 million share buyback, extending the program beyond initial forecasts. The firm plans to release a full-year trading update on April 24, providing further insights into its portfolio developments.