We are pleased to announce that Molten has syndicated part of its Fund of Funds programme to Castlegate Investments, the private family office investment vehicle of serial entrepreneur, Tommy Kelly.
Our Fund of Funds programme is one of the leading European VC programmes backing seed and early-stage fund managers. Since its programme inception in 2017, we have invested approximately £72m, out of total commitments of approximately £130m, to 67 early-stage VC firms across Europe as at 30 September 2022.
Those managers include Seedcamp, Partech, Seaya Ventures and Earlybird Digital East among others. As of September 2022, the portfolio included over 1,500 companies. Castlegate Investments will commit a total of €30m to this programme, of which half will be used to acquire a proportion of Molten’s existing seed and early-stage portfolio, and half will be for future commitments of the Fund of Funds.
With this significant deal, we intend to further broaden the syndication of our programme, offering other investors access – through Molten – to the most innovative seed and early-stage fund managers across Europe, and creating opportunities to co-invest and deploy further capital into direct opportunities within their portfolio companies.
We are delighted to reach this important milestone for Fund of Funds. If you're interested to hear more about the programme and how we're supporting seed and early-stage fund managers across Europe, read our latest blog here.