Molten Ventures raises €203 million for growth-stage tech
Molten Ventures has secured a €203 million first close for its new Growth Fund, backed by the British Business Bank, to invest in UK and European Series B+
Molten Ventures has announced a €203 million first close for its new Growth Fund. The British venture capital firm will use the capital to back growth-stage technology companies across sectors like Space, AI, FinTech, Quantum, DeepTech, and Hardware.
The British Business Bank committed €87 million as the cornerstone investor. Molten Ventures itself provided the remaining €116 million. The firm aims to grow the fund to a target size of €407 million by attracting additional investors. Ben Wilkinson, CEO of Molten Ventures, stated the commitment shows the need for more long-term institutional capital in venture and growth investing.
"Securing the British Business Bank as cornerstone investor is a strong endorsement of Molten’s strategy," said Wilkinson. He added that the fund gives the firm a dedicated vehicle to support more companies as they scale.
The European Funding Landscape
This fundraise is part of a broader wave of capital formation in European tech during 2026. According to the EU-Startups report, several other significant funds have been announced.
| Fund Manager | Focus | First Close Amount |
|---|---|---|
| Kembara | DeepTech growth | €750 million |
| Franco-German E2D | DefenceTech growth | €500 million |
| Earlybird VC | Technology | €360 million |
| SlateVC | Climate-focused growth | €132 million |
In the UK alone, firms including Mouro Capital, Seedcamp, 2150, Lansdowne Partners, and Mix VC have announced funds or closes ranging from €70 million to €343 million. Together with Molten's new vehicle, these 2026 announcements represent almost €3 billion in disclosed capital.
Filling a Critical Gap
The Growth Fund is designed to address what Molten Ventures identifies as a critical funding gap. The firm argues that while there is no shortage of exceptional founders in the UK and Europe, they often lack sufficient growth capital to become global leaders. Robert Greenwood, Senior Director of Funds at the British Business Bank, echoed this sentiment.
"To create deeper pools of late-stage capital for breakthrough technologies, we are helping UK tech investors to launch new growth funds," Greenwood said. He described Molten as one of the UK's leading growth investors, with a strong track record of backing fast-growing technology businesses.
The fund will focus on Series B and later investment rounds. It aims to provide the liquidity companies need to compete globally while allowing Molten to build meaningful ownership positions in its highest-conviction businesses.
Molten's Track Record and Strategy
Originally founded in 2006 as Esprit Capital, the firm rebranded to Molten Ventures in late 2021. It is listed on the London Stock Exchange, offering public market investors access to a portfolio of private tech companies. Since 2016, Molten has reportedly deployed over €1.1 billion and realized more than €931 million in proceeds from its investments.
The firm manages over €2.3 billion in assets. The new Growth Fund builds on an existing strategy where Molten has completed more than 40 growth-profile deals, investing over €814 million in the past decade. The fund offers private institutional capital the chance to invest at scale through a private fund structure while use the public vehicle's platform.
Alongside other strategies like Molten Secondaries, the Growth Fund is a key part of the firm's plan to build scale through additional third-party capital. The British Business Bank has been an investor in Molten's listed platform since 2018 and has previously co-invested in companies like SatVu, IMU Biosciences, Thought Machine, and Paragraf.
