Chrysalis Investments Limited Portfolio Update (9213C)
24 Junio 2021 - 1:00AM
UK Regulatory
TIDMCHRY
RNS Number : 9213C
Chrysalis Investments Limited
24 June 2021
The information contained in this announcement is restricted and
is not for publication, release or distribution in the United
States of America, any member state of the European Economic Area,
Canada, Australia, Japan or the Republic of South Africa.
24 June 2021
Chrysalis Investments Limited ("Chrysalis" or the "Company")
Portfolio Update
The Company is pleased to announce a further follow-on
investment into Starling Bank ("Starling") of approximately GBP35
million.
This investment is connected to Starling's successful Series D
funding round, which was announced in April 2021, and saw a total
of GBP322 million raised at a valuation of approximately GBP1.3
billion post new-money. At the time of this transaction, the
Company's Investment Adviser negotiated a structure that gave
Chrysalis the option to participate, which has now been
exercised.
As of April 2021, Starling's deposit base topped GBP6 billion,
compared with approximately GBP1 billion a year before, continuing
its strong run of growth.
At the time of the March 2021 NAV announcement, the Investment
Adviser referenced it had line-of-sight to two follow-on
opportunities. Following the announcement on 1 June 2021 of a EUR30
million investment in FinanceApp AG ("wefox") as part of its Series
C funding round, this investment in Starling represents completion
of these two potential deals.
Nick Williamson and Richard Watts (co-portfolio managers)
comment:
"Starling made huge strides over 2020, seeing substantial growth
in customer numbers, deposits and lending. This drove approximately
400% revenue growth over the year to January 2021 and positioned
the bank into sustainable profitability. We are delighted to
continue our support of Anne and her team as they build on this
success, and are optimistic about the company's future
prospects."
-ENDS-
For further information, please
contact:
Media: +44 (0) 20 3770 7920
Montfort Communications chrysalis@montfort.london
Charlotte McMullen/ Toto Reissland-
Burghart/ Miles McKenzie
Jupiter Asset Management:
Magnus Spence +44 (0) 20 3817 1325
Liberum:
Chris Clarke / Darren Vickers
/ Owen Matthews +44 (0) 20 3100 2000
Numis:
Nathan Brown/ Matt Goss +44 (0) 20 7260 1000
Maitland Administration (Guernsey)
Limited:
Elaine Smeja / Aimee Gontier +44 (0) 1481 749364
LEI: 213800F9SQ753JQHSW24
A copy of this announcement will be available on the Company's
website at
https://www.jupiteram.com/uk/en/professional/chrysalis-investments-limited/
The information contained in this announcement regarding the
Company's investments has been provided by the relevant underlying
portfolio company and has not been independently verified by the
Company. The information contained herein is unaudited.
This announcement is for information purposes only and is not an
offer to invest. All investments are subject to risk. Past
performance is no guarantee of future returns. Prospective
investors are advised to seek expert legal, financial, tax and
other professional advice before making any investment decision.
The value of investments may fluctuate. Results achieved in the
past are no guarantee of future results. Neither the content of the
Company's website, nor the content on any website accessible from
hyperlinks on its website for any other website, is incorporated
into, or forms part of, this announcement nor, unless previously
published by means of a recognised information service, should any
such content be relied upon in reaching a decision as to whether or
not to acquire, continue to hold, or dispose of, securities in the
Company.
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END
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June 24, 2021 02:00 ET (06:00 GMT)
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