Chrysalis boosted by Klarna and Starling Bank revaluations as NAV jumps 6.5%

Likely exit routes for holdings

Revaluations at two Chrysalis Investments holdings, Klarna and Starling Bank, lifted the trust’s net asset value in the final quarter of 2023, as the managers bet on the revival of the IPO market.

In a stock exchange notice today (29 January), the trust reported its December NAV had risen 6.5% from the previous quarter to 143.4p, driven by upwards movement in valuations of Swedish fintech Klarna and digital challenger bank Starling Bank.  Klarna's valuation was increased from £56.9m at the end of September to £93.2m, with the company now accounting for 10.9% of NAV, while the value of Starling Bank, which comprises 20.2% of NAV, grew from £141.7m in the quarter to £172.7m. These revaluations more than offset declines at Brandtech from £103.9m to £93.6m, Deep Instinct from £51.5...