Merian Chrysalis opts for equity placing in £50m fundraise

Raising capital to fund investments

The board of Merian Chrysalis Investment Company has proposed a placing of equity at £1.48 per share in efforts to raise £50m to fund new investments, with the company allowing retail investors the opportunity to invest alongside institutional buyers via primarybid.com.

If £50m is raised, the placing shares would represent around 10% of the Merian Global Investors-advised company's existing issued ordinary share capital. Co-managed by small and mid-cap managers Richard Watts and Nick Williamson, the trust invests primarily in later-stage private companies. In September last year, Merian Chrysalis aimed to raise more than £100m though ordinary share issuance, having seen its shares trade at a premium since its launch. In a London Stock Exchange statement today (28 September), the board explained that "due to recent investments", the trust "is now s...