Chrysalis Investments
Accessing the world’s most innovative and disruptive companies
Overview
Please bear in mind that all investments involve risk and the value of, and any potential income from, your investment may fluctuate and are not guaranteed.
Our proposition is distinct; We back outstanding entrepreneurs and high growth private companies with permanent crossover capital.
We identify which business models are best equipped to exploit an evolving opportunity through truly innovative and cutting-edge technologies and back them to succeed.
Our attractiveness to companies is our ability to fund them up to and through IPO, helping them de-risk this process and align with a natural buyer of listed equity.
Our attractiveness to investors is that our crossover proposition allows us access to some of the most exciting private growth names, which are unavailable to most investors.
Our proposition is based on our ability to offer material crossover funding, underpinned by over £6 billion1 of capital managed by Jupiter Asset Management focused on the UK small and mid-cap listed market. This pool of funds is the largest of its kind and makes us one of the biggest IPO investors in the UK.
We identify which business models are best equipped to exploit an evolving opportunity through truly innovative and cutting-edge technologies and back them to succeed.
Our attractiveness to companies is our ability to fund them up to and through IPO, helping them de-risk this process and align with a natural buyer of listed equity.
Our attractiveness to investors is that our crossover proposition allows us access to some of the most exciting private growth names, which are unavailable to most investors.
Our proposition is based on our ability to offer material crossover funding, underpinned by over £6 billion1 of capital managed by Jupiter Asset Management focused on the UK small and mid-cap listed market. This pool of funds is the largest of its kind and makes us one of the biggest IPO investors in the UK.
1 As of 30 September 2020
Key fund facts
Chysalis Investments Limited (the “Company”) is an investment trust that is listed on the London Stock Exchange.
The investment objective of the Company is to generate long term capital growth through investing in a portfolio consisting primarily of equity or equity-related investments in unquoted and listed companies.
Its fund managers are Nick Williamson and Richard Watts, who head up Jupiter’s UK Small & Mid Cap team.
The investment objective of the Company is to generate long term capital growth through investing in a portfolio consisting primarily of equity or equity-related investments in unquoted and listed companies.
Its fund managers are Nick Williamson and Richard Watts, who head up Jupiter’s UK Small & Mid Cap team.
Connect with Chrysalis
Investment policy
Investments will be primarily in equity and equity-related instruments (which shall include, without limitation, preference shares, convertible debt instruments, equity-related and equity-linked notes and warrants) issued by portfolio companies. The Company will also be permitted to invest in partnerships, limited liability partnerships and other legal forms of entity where the investment has equity like return characteristics.
For the purposes of this investment policy, unquoted companies shall include companies with a technical listing on a stock exchange but where there is no liquid trading market in the relevant securities on that market (for example, companies with listings on The International Stock Exchange and the Cayman Stock Exchange). Further, the Company shall be permitted to invest in unquoted subsidiaries of companies whose parent or group entities have listed equity or debt securities.
The Company may invest in publicly traded companies (including participating in the IPO of an existing unquoted company investment), subject to the investment restrictions below. In particular, unquoted portfolio companies may seek IPOs from time to time following an investment by the Company, in which case the Company may continue to hold its investment without restriction.
The Company is not expected to take majority shareholder positions in portfolio companies but shall not be restricted from doing so. Further, there may be circumstances where the ownership of a portfolio company exceeds 50% of voting and/or economic interests in that portfolio company notwithstanding an initial investment in a minority position. While the Company does not intend to focus its investments on a particular sector, there is no limit on the Company’s ability to make investments in portfolio companies within the same sector if it chooses to do so.
The Company will seek to ensure that it has suitable investor protection rights through its investment in portfolio companies where appropriate.
The Company may acquire investments directly or by way of holdings in special purpose vehicles, intermediate holding vehicles or other fund or similar structures.
For the purposes of this investment policy, unquoted companies shall include companies with a technical listing on a stock exchange but where there is no liquid trading market in the relevant securities on that market (for example, companies with listings on The International Stock Exchange and the Cayman Stock Exchange). Further, the Company shall be permitted to invest in unquoted subsidiaries of companies whose parent or group entities have listed equity or debt securities.
The Company may invest in publicly traded companies (including participating in the IPO of an existing unquoted company investment), subject to the investment restrictions below. In particular, unquoted portfolio companies may seek IPOs from time to time following an investment by the Company, in which case the Company may continue to hold its investment without restriction.
The Company is not expected to take majority shareholder positions in portfolio companies but shall not be restricted from doing so. Further, there may be circumstances where the ownership of a portfolio company exceeds 50% of voting and/or economic interests in that portfolio company notwithstanding an initial investment in a minority position. While the Company does not intend to focus its investments on a particular sector, there is no limit on the Company’s ability to make investments in portfolio companies within the same sector if it chooses to do so.
The Company will seek to ensure that it has suitable investor protection rights through its investment in portfolio companies where appropriate.
The Company may acquire investments directly or by way of holdings in special purpose vehicles, intermediate holding vehicles or other fund or similar structures.
Key literature
Reports & Accounts
Financial Report and Audited Financial Statements 2020
Interim Report and Unaudited Interim Financial Statements: 1 October 2019 to 31 March 2020
Financial Report and Audited Financial Statements 2019
Interim Report and Unaudited Interim Financial Statements: 3 September 2018 to 31 March 2019
Key Documents
Key information document (ordinary shares)
Senior Independent Director role and responsibilities
Rem & Nom Terms of Reference
Article 23 disclosure
Financial Report and Audited Financial Statements 2019
Audit Committee Terms of Reference
Notice of Extraordinary General Meeting 2020
Form of Proxy 2020
Notice of Extraordinary General Meeting 2020
Audit Committee Terms of Reference
Prospectus
Announcements
04 May 2021: Change of AIFM
1 April 2021: TR1 Notification - Quilter Plc
1 April 2021: TR1 Notification - Jupiter Fund Management Plc
26 March 2021: PDMR Dealing
26 March 2021: Result of Initial Issue
10 March 2021: Open Offer, Initial Placing, Intermediaries Offer and Offer for Subscription and Placing Programme
8 March 2021: Results of AGM
8 March 2021: Results of EGM
8 March 2021: Portfolio Update
1 March 2021: Portfolio Update
26 February 2021: Quarterly NAV Announcement
17 February 2021: EGM Form of Proxy
17 February 2021: EGM Notice
17 February 2021: AGM Notice and Form of Proxy
17 February 2021: Notice of AGM and Notice of EGM
Market news
Performance report
Important Information
Market and exchange rate movements can cause the value of an investment to fall as well as rise, and you may get back less than originally invested.
The Key Information Document and Prospectus are available from the document library.
Every effort is made to ensure the accuracy of any information provided but no assurances or warranties are given.
The Key Information Document and Prospectus are available from the document library.
Every effort is made to ensure the accuracy of any information provided but no assurances or warranties are given.
