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# Forward Partners
- URL: https://entrepreneurplus.co.uk/graveyard/forward-partners/
- Published: 2026-10-21T11:09:51.000Z
- Updated: 2026-10-21T11:29:50.000Z
- Description: AIM-listed early-stage VC absorbed into Molten Ventures in an all-share deal, Mar 2024
- Author: Editorial Desk
- Tags: #ep-grave

✝ Investor · Merged / absorbed · March 2024 

AIM-listed early-stage VC absorbed into Molten Ventures in an all-share deal, Mar 2024

Companies House

[13244370](https://find-and-update.company-information.service.gov.uk/company/13244370?ref=entrepreneurplus.co.uk) · Active

How it ended

Merged / absorbed

Ended

March 2024

Founded

2013

Type

Venture capital

Based in

London

Last known website

[forwardpartners.com](https://forwardpartners.com/?ref=entrepreneurplus.co.uk)

Last checked

21 October 2026

## What happened

Forward Partners was a London early-stage venture firm founded by Nic Brisbourne in 2013\. It backed pre-seed and seed companies in e-commerce, marketplaces and applied AI, ran an in-house studio team that built product for its portfolio, and later added a revenue-based 'Forward Advances' financing line. The group listed on AIM in July 2021 as Forward Partners Group plc. After the 2022-23 valuation downturn the shares traded at a steep discount to net assets, and in November 2023 the board recommended an all-share takeover by Molten Ventures plc (formerly Draper Esprit) worth about £41.4M, one new Molten share for every nine Forward shares. The acquisition completed in March 2024, the shares were cancelled from AIM and the portfolio passed to Molten; the group entity was subsequently re-registered as a private limited company.

## Why

- Macro / market conditions
- Other / not stated

## What happened to the assets, customers and team

Acquired in full by Molten Ventures plc for about £41.4M in Molten shares; the deal completed in March 2024 and the Forward Partners portfolio was folded into Molten's balance sheet.

## Lessons

A small listed venture vehicle struggled to hold its rating once public-market investors marked down private tech, and a share-for-share merger into a larger listed peer was the exit. Forward Partners' legal entities (management company 08819822, three LPs) remain on the register as part of Molten.

## Sources

1. [find-and-update.company-information.service.gov.uk](https://find-and-update.company-information.service.gov.uk/company/13244370?ref=entrepreneurplus.co.uk)
2. [moltenventures.com](https://www.moltenventures.com/news/molten-ventures-fundraise-and-recommended-all-share-acquisition-of-forward-partners?ref=entrepreneurplus.co.uk)
3. [edisongroup.com](https://www.edisongroup.com/research/forward-partners-deal-completed/33552/?ref=entrepreneurplus.co.uk)
4. [tech.eu](https://tech.eu/2023/11/27/molten-ventures-acquires-forward-partners-in-ps41m-deal-announces-raise-of-ps50m?ref=entrepreneurplus.co.uk)
5. [uktech.news](https://www.uktech.news/funding/vc-funding/molten-ventures-forward-partners-20231128?ref=entrepreneurplus.co.uk)

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