Molten Ventures VCT PLC on Monday reported a jump in its net assets due to a strong uplift in value of its technology assets.

The London-based investment company reported its net asset value per share as at March 31 stood at 60.6 pence.

This reflects an increase of 21% on 50.0p on the same date a year before.

Its total NAV return including cumulative dividends grew 8.6% to 171.1p from 157.5p.

Molten Ventures attributed its performance to a ‘significant number’ of technology businesses in its portfolio. It explained that these businesses saw a ‘strong’ uplift in value, which led to a substantial increase in its overall net asset value.

The company declared a final dividend of 1.5p per share and a special dividend of 1.6p, taking its total dividend for financial 2022 to 4.6p.

Looking forward, Molten Ventures believes that its technology assets have the ability to increase further in value.

Molten Ventures VCT shares are down 2.6% on Monday in London at 56.50 pence each.

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