Draper Esprit / Molten Ventures
Publicly listed European venture firm investing across deep tech, enterprise, and consumer from Series A.
Molten is the rare publicly-listed VC (FTSE 250) which gives you transparency but also means they're beholden to public market pressures that can create odd incentives. Their track record is solid - they've delivered strong exits like M-Files at 7.4x and Endomag at 3.9x MOIC, consistently hitting or beating their carrying values. They actually deliver on their value-add promises - portfolio companies genuinely praise their enterprise network connections and ability to accelerate sales cycles. The 'patient capital' positioning isn't just marketing - being public means they can hold positions longer than traditional fund cycles. Leadership transition is worth watching - new CEO Ben Wilkinson stepped up from CFO role when Martin Davis left, so jury's still out on strategic direction under new management.
- —Best for: Late-stage Series A/B companies needing genuine enterprise connections and patient capital
- —Watch out for: Public market pressures affecting decision-making and new CEO transition period
- —Known for: Strong track record of exits at or above carrying values and actual value-add beyond capital
Molten Ventures backs Europe's most ambitious founders from Series A and beyond, providing capital, support, and expertise to help them achieve their growth potential while mitigating risk. They focus on providing investors with access to an actively managed portfolio of high-potential companies capable of generating outsized returns on invested capital.
Series A and B stages primarily, with a focus on deeptech, consumer tech, healthtech, SaaS, and enterprise software. They invest across four sectors: Enterprise & SaaS; AI, Deeptech & Hardware; Consumer Technology; and Digital Health with experienced partners.
Recently stepped up from CFO to CEO after Martin Davis stepped down in 2025. Previously served as CFO and has been involved in key strategic decisions around the fund's investment approach and capital allocation.
Senior Partner on the investment team, one of the key figures in Molten's partnership group with extensive experience in European venture capital.
Director and co-founder who has been with the firm since its early days. He has shared insights on the firm's CEO Summit and strategic direction.
Chief Portfolio Officer responsible for overseeing the firm's portfolio management and value creation across their 100+ company portfolio.
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