(Alliance News) - Chrysalis Investments Ltd on Monday revealed it had raised proceeds of GBP60 million in a capital fundraise, significantly below the GBP125 million to GBP175 million target set out by the group earlier this month.
The company, which invests in technology and finance startups, issued 25.2 million shares at 238 pence each.
Shares in Chrysalis Investments were up 0.7% at 236.70 pence on Monday morning in London.
"The company is pleased to have had positive engagement with a range of investors throughout the placing and is grateful for the continued support of its shareholders, particularly in what has become a more challenging market environment, in light of recent developments regarding the Omicron variant of Covid-19," Chrysalis commented in a statement.
Proceeds would be used to drive the performance of existing portfolio companies via follow-on investments, the investor added.
On December 1, Chrysalis said it had identified two near-term opportunities to deploy follow-on capital, which could take place in early 2022. In addition, Chrysalis will use the proceeds to also enlarge its portfolio, in line with the investment adviser's target of 15 to 20 assets.
Liberum Capital and Numis Securities acted as joint bookrunners for the placing.
By Will Paige; willpaige@alliancenews.com
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Chrysalis Inves (CHRY)