Molten Ventures has reached a first closing of £175 million for its new growth fund, which aims to raise a total of £350 million. The British Business Bank acted as the cornerstone investor, contributing £75 million, while Molten Ventures provided £100 million from its own capital.
The new fund will focus on supporting technology companies in the UK and Europe at the Series B stage and beyond. Target sectors include artificial intelligence, space technology, fintech, quantum computing, deep tech, and hardware.
Over the past decade, Molten Ventures has executed more than 40 growth-stage investments, totaling over £700 million. The firm is currently transitioning its strategy toward institutional fund management under the leadership of CEO Ben Wilkinson, who took office in October 2024.
The British Business Bank remains an active participant in the venture capital market, having invested in at least six funds over the last two years. Its recent activity includes contributions of £50 million to Longwall Venture Partners and £25 million to Antler UK Fund II.
