Molten Ventures raises €203 million to back UK and European growth-stage tech companies

Molten Ventures, a British VC firm with a 20-year track record, today announces the first close of its Growth Fund at €203 million (£175 million) to invest across key technology sectors including Space, AI, FinTech, Quantum, DeepTech and Hardware.

The British Business Bank has committed €87 million (£75 million) as cornerstone investor. Molten Ventures has committed the remaining €116 million (£100 million) of the first close and will continue to seek additional investors, with the aim of growing the Growth Fund to a target of €407 million (£350 million).

Ben Wilkinson, Chief Executive Officer of Molten Ventures, says: “Securing the British Business Bank as cornerstone investor is a strong endorsement of Molten’s strategy and of the relationship we have built over many years. It also underlines the importance of bringing more long-term institutional capital into venture and Growth, so that ambitious UK and European technology companies have the backing they need to scale.

“Molten has a strong track record in growth investing, with more than 40 growth-profile deals completed and over £700 million invested. The Growth Fund builds on that experience and gives us a dedicated vehicle to support more companies as they scale.”

Molten Ventures’ first close comes can be contrasted with other new capital formation across European technology investment funds in 2026.

EU-Startups has seen comparable vehicles including Barcelona-based Kembara‘s €750 million first close for a DeepTech growth fund, the €500 million Franco-German E2D DefenceTech growth vehicle, Earlybird VC‘s €360 million technology fund, and Paris-based SlateVC‘s €132 million for its climate-focused growth strategy.

The UK alone provides plenty of activity: Mouro Capital, Seedcamp, 2150, Lansdowne Partners and Tapestry VC have also announced funds or closes worth €343 million, €279 million, €210 million, €128.9 million and €70 million respectively.

Together with Molten’s new vehicle, these 2026 announcements represent almost €3 billion in disclosed capital.

EU-Startups has previously covered Molten Ventures as an investor in Tapestry VC‘s Fund III and in UK SpaceTech company SatVu.

“There is no shortage of exceptional founders or technology businesses in the UK and Europe; what they too often lack is sufficient growth capital to help them become global leaders. This Fund gives Molten greater firepower to back our highest-conviction companies at Series B and beyond, build meaningful ownership positions and channel capital into the next generation of growth.

“Alongside our other strategies, including Molten Secondaries, the Growth Fund will strengthen our ability to connect long-term capital with companies that are shaping the future,” adds Ben.

Originally founded in 2006 as Esprit Capital, the firm later became Draper Esprit in 2015 before rebranding to Molten Ventures in November 2021. Listed on the London Stock Exchange, Molten Ventures gives public market investors access to their portfolio of privately held technology businesses.

Since 2016, Molten has reportedly deployed more than €1.1 billion (£1 billion) of capital and realised more than €931 million (£800 million) in proceeds from its investments. Across the Group, Molten manages over €2.3 billion (£2 billion) in AUM.

The fund is a continuation of Molten’s existing investment strategy of Series B+ investments, with a track record of more than 40 deals and over €814 million (£700 million) invested in the past ten years. The fund offers private institutional capital the opportunity to invest at scale through a private fund structure, while benefiting from the public vehicle’s platform and governance.

Robert Greenwood, Senior Director, Funds at British Business Bank, says: “To create deeper pools of late-stage capital for breakthrough technologies, we are helping UK tech investors to launch new growth funds. This commitment is the latest example of that strategy.

“Molten Ventures is one of the UK’s leading growth investors, with a strong track record of backing fast-growing technology businesses. This fund will help the next generation of tech entrepreneurs scale faster and build global companies from the UK.”

The Growth Fund is a key part of Molten’s strategy to build scale through additional third-party capital under management. As a dedicated source of institutional funding alongside Molten’s listed platform, it will enable the Company to increase the volume of Series B+ investment rounds in high-growth UK and European technology companies as they move from early growth into later stage scale-ups.

The VC outlines this as a critical funding gap in the UK and European market for high growth innovative technology businesses and one where they see an opportunity to deliver strong returns.

The Growth Fund will invest in companies at the forefront of innovation across key technology sectors including Space, AI, FinTech, Quantum, DeepTech and Hardware, providing them with the liquidity they need to compete globally, while giving Molten greater ability to build meaningful ownership positions in high-conviction businesses.

The British Business Bank has been an investor in Molten’s listed platform since 2018 and has co-invested alongside Molten in several high-growth UK technology companies, including SatVu, IMU Biosciences, Thought Machine and Paragraf.