Molten Ventures Devalues Crypto Startup Ledger, Revolut Stakes
- Value of Ledger stake reduced by 22%, Revolut by 40%
- Venture capitalists cool on tech startups as market grows wary
This article is for subscribers only.
London-headquartered Molten Ventures Plc de-valued its holdings in digital finance companies Ledger and Revolut Ltd., signaling venture capital firms are becoming more cautious toward technology startups and the crypto sector.
The fair value of Molten’s investment in crypto wallet maker Ledger was calculated at £71.8 million ($91.5 million) as of March 2023, the venture capital firm said in its annual report on Thursday, down 22% from its 2022 value of £91.9 million. Meanwhile, digital banking provider Revolut, which offers crypto trading to its customers, was lowered by 40% to £54.5 million over the same period.