Transferwise, Starling Bank and Growth Street investor seeks £50m fundraise

By Daniel Lanyon on Tuesday 2 April 2019

Alternative LendingDigital BankingSavings and Investment

The fintech focused fund, sitting on a hefty premium of 14.2 per cent, is looking to expand its investment portfolio.

The £113m Merian Chrysalis investment trust is seeking to raise up to £50m via a placing of new ordinary shares in the closed ended fund.

Since its initial public offering (IPO) in November the fund has deployed nearly 85 per cent of its cash into six assets with a heavily tilt towards fintech and alternative finance. The six investments to date comprise TransferWise ($22m), Secret Escapes (£13m), The Hut Group (£9.5m), Graphcore ($25m), Growth Street (£5m) and Starling Bank (£19m).

Analysts at investment bank Liberum, which also running the book on its fundraise, said: ”The manager believes that a number of these investments are global leaders in their fields and all have significant disruptive potential.”

Merian Chrysalis’ investment manager is, it says, currently looking at eight new potential portfolio additions across a number of sectors including fintech and reviewing over 50 high-growth potential investments.

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