A surge in the value of Revolut has provided a £95 million boost to venture capital investor Molten Ventures PLC (LSE:GROW).
A secondary share sale by the fintech after it won its UK banking licence, was carried out at a US$45 billion valuation, which implied the uplift in the value of Molten’s investment to roughly £160 million.
Martin Davis, Molten's chief executive, said: "Revolut has recently gone from strength to strength. It is great to see the business able to reward its people for their contribution to its growth, and at a valuation which provides significant upside to our own.
"This shows the benefit to our investors of the prudent approach we take to NAV and we look forward to updating on the precise uplift in more detail when we next report results."
Molten shares rose 1.5% to 401.1p on Wednesday morning.
Analysts at Peel Hunt said they believe the valuation uplift, along with a series of exits aligning with their carrying values, "further validates" Molten’s reported net asset value, which has been well above the share price since late 2022.
The shares have lately traded at roughly a 40% discount to NAV per share and on about a 7% discount to investment cost per share, the analysts added, despite around 75% share price uplift in the past six months.