Molten Ventures signs £150 million debt facility via JPMorgan, SVB

By Marisa Wong

Los Angeles, Sept. 8 – Molten Ventures plc announced it has agreed to a new £150 million net asset value facility with J.P. Morgan Chase Bank, NA and Silicon Valley Bank, according to a press release.

The debt facility comprises a £90 million term loan and an up to £60 million revolving credit facility with three- and two-year tenors, respectively, both with one-year extensions up to five years.

The debt facility’s interest rate is Sonia plus a margin of 550 basis points.

The facility is underpinned by the value of the company’s investment portfolio, and any drawdown is subject to a maximum loan to value ratio of 10%. The value of the portfolio companies is subject to periodic independent third party valuation, the first of which has been conducted for the outset of the facility with valuations as of the end June.

Loan proceeds will be used for investment and corporate purposes and to repay in full the company’s existing £65 million facility with SVB and Investec.

Molten is a London-based venture capital firm investing in and developing high growth digital technology businesses.

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