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Merian Chrysalis Investment Co Ltd - London-based investor in later stage private companies with long-term growth potential - Announced it has participated in London-based online money transfer service TransferWise's USD319 million secondary share sale which valued the business at USD5.00 billion. As of March 31, TransferWise comprised over 18% of the Merian Chrysalis's net asset value. The share sale has increased the company's cash balance by GBP20 million to approximately GBP55 million, which it plans to used to reinvest in its portfolio. Meanwhile, Draper Esprit PLC said it sold its remaining holding in TransferWise as part of the transaction for a total cash return of approximately GBP18 million, above its GBP15 million fair value at the end of March. In total, Draper Esprit generated GBP33 million across two realisations from its investment in TransferWise.
By Greg Roxburgh; gregroxburgh@alliancenews.com
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