MARKET REPORT: Investors create hot demand for Chrysalis
Investors looking for tech unicorns created hot demand for Chrysalis Investments.
It was listed in 2018 with the aim of buying into fast-growing tech firms before they hit the stock market. The fund is managed by Richard Watts and Nick Williamson, previously best known as smaller company fund managers at Merian Global Investors, and the track record is impressive.
The firm has steadily built up holdings, including hotel website Secret Escapes, chip company Graphcore, Matthew Mouldingrun THG – which listed last year – and challenger bank Starling.
But perhaps the jewel in the crown could yet be Klarna, the Swedish buy now, pay later payments company, which is worth £32billion after the firm raised £452m of new money from Softbank earlier in the week.
Chrysalis owns 1 per cent of Klarna, whose boss Sebastian Siemiatkowski has hinted that the firm is eyeing a float in New York or London.
Meanwhile another investment Embark Group, an online retirement provider, has been approached by Lloyds about a £400m takeover. The two exits would mean a potential windfall for Chrysalis and its investors. …
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