Molten Ventures Announces Share Buyback and New Debt Facility

Molten Ventures plc, a prominent venture capital firm, has announced key updates including the completion of the Endomagnetics ("Endomag") acquisition by Hologic, Inc., the initiation of a £10 million share buyback program, and the establishment of a new £180 million debt facility.

The acquisition of Endomag, a medical technology company focused on breast cancer care, has been finalized. Molten first invested in Endomag in 2018, and the transaction proceeds of approximately $46 million will yield a 3.9x return on invested capital.

Following the realization of over £70 million from various exits, including Perkbox, Graphcore, and Endomag, Molten Ventures will commence a £10 million share buyback according to its capital allocation policy.

A new £180 million debt facility has been agreed with J.P. Morgan Chase Bank and HSBC Innovation Banking. This facility, effective from September 2024, replaces the existing £150 million facility and includes a £120 million term loan and a £60 million revolving credit facility.