Venture capital firm Molten Ventures has secured a more than 7x return from its latest exit after disposing of its stake in investment in file management company M-Files. 

The London and Dublin-listed investor said the exit has brought its total realisations for the financial year to £124m, a quarter higher than the guidance provided at the start of the period. The company’s shares rose a little over 1% following the announcement. 

“We are pleased with the heightened level of realisations delivered so far this financial year, particularly as they have been completed at or above holding value, validating the quality of our portfolio and the diligent approach to our valuation methodology,” said Molten Ventures CEO Ben Wilkinson. 

“The highly successful completion of the M-Files exit along with the other realisations has generated meaningful cash proceeds that will allow us to take advantage of further attractive investment opportunities.” 

Molten Ventures first backed M-Files in 2013 as part of its €6m (£5m) Series A round. The VC firm backed the company twice again, participating in its €33m Series B in 2016 and its €67m Series C in 2021. 

M-Files is a platform for businesses to automate document creation and workflow management. The group has also incorporated generative AI into its system, with which users can ask “complex questions” to the platform’s digital assistant. 

“While realisations have already exceeded our original expectations for the financial year, with the larger anticipated exits having completed there remains the potential for further smaller exits,” added Wilkinson. 

“Our core focus is on active management of the portfolio and driving strong returns for investors.” 

Launched in 2006, Molten Ventures has become one of London’s most active VC firms. Among Molten’s previous investments are Trustpilot, N26 and Revolut. In March, Molten completed an acquisition of fellow London VC Forward Partners, which was announced in the previous November. 

In June, Molten wrote up the value of its stake in Revolut, bringing it to £65.1m. 

Already have an account? Log in