Investor profile
Ember Partners
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Ember Partners was a London-based European venture secondaries firm founded in 2025, focused on providing liquidity solutions to founders, early employees, and early-stage investors in Europe's best private technology companies. The firm's thesis centred on the growing gap between the scale of unrealised value in European private tech and the relatively underdeveloped secondary market compared to the US — with the team stating: 'The volume of unrealised value sitting in private European tech companies is enormous and growing. The need for liquidity solutions will only increase as companies stay private for longer.' Ember Partners was subsequently absorbed into Molten Ventures in March 2026, where the same team (Malcolm Ferguson, Steven Mendel, and Nicholas Sando) now operates a dedicated secondaries fund.
Notable quotes
“The volume of unrealised value sitting in private European tech companies is enormous and growing. The need for liquidity solutions will only increase as companies stay private for longer, as employee equity becomes a more significant part of compensation, and as the first generation of European mega-rounds mature. And yet the market for providing this liquidity in Europe remains significantly underdeveloped compared to the US. There is a gap between the scale of the opportunity and the capital and expertise dedicated to it. We're here to close that gap.”
“Founders who have de-risked a portion of their personal wealth make better, longer-term, decisions; employees, who can realise some of their self-created value in their options, become more motivated; early investors, who receive a return on their capital, become keen to back the next generation. Secondaries done well creates multiple alignments.”
“I spent 11 years at Octopus Ventures. I joined when the firm managed £100 million in assets and scaled it to £1.5 billion during my tenure. That taught me a lot about building and scaling an investment business. Molten is a mature firm, but we're building a new strategy within it and I'm excited to help scale it.”
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