A major investor in Graphcore has cut its valuation by more than 80% over the past three years amid reports the struggling British chipmaker is in rescue takeover talks.
London-listed Molten Ventures, which participated in Graphcore’s series E funding round in 2020, had estimated its stake in the business at $109 million in 2021, making it the most valuable company in its portfolio at the time. But since then it has repeatedly slashed the value of the investment, which has sunk from $37 million last year to just $20 million in results published today – falling below the cost of its initial investment.
