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Merian Chrysalis Makes Further Investments In Embark And Transferwise

Wed, 27th Nov 2019 15:00

(Alliance News) - Merian Chrysalis Investment Co Ltd on Wednesday said it has made additional investments in two portfolio companies.

The London-based firm, which invests in private companies, has made a follow-on investment of GBP12.2 million in retirement solutions business Embark Group Ltd to accelerate Embark's growth plans, including Embark's acquisition of a retail investment platform named Zurich.

The Embark investment comprises an GBP8 million equity investment and a GBP4.2 million convertible loan note.

The company separately has acquired an additional USD4.2 million stake in online money transfer service TransferWise Ltd from funds managed by Merian Global Investors (UK) Ltd.

Merian Global Investors serves as investment adviser to Merian Chrysalis Investment.

Merian Chrysalis, which did not disclose its total stake in Embark or TransferWise following the additional investments, said it continues to explore a pipeline of investment opportunities.

Merian Chrysalis shares in London were up 0.3% at 120.40 pence each on Wednesday afternoon.

By Tapan Panchal; tapanpanchal@alliancenews.com

Copyright 2019 Alliance News Limited. All Rights Reserved.

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