Merian Chrysalis Investment Co. Ltd Portfolio Update (2532J)
August 16 2019 - 2:00AM
UK Regulatory
TIDMMERI
RNS Number : 2532J
Merian Chrysalis Investment Co. Ltd
16 August 2019
The information contained in this announcement is restricted and
is not for publication, release or distribution in the United
States of America, any member state of the European Economic Area
(other than the United Kingdom), Canada, Australia, Japan or the
Republic of South Africa.
Merian Chrysalis Investment Company Limited
16 August 2019
Merian Chrysalis Investment Company Limited (the "Company")
Portfolio Update
-- Investment in Sorted Holdings Limited
-- Update on portfolio composition
Investment in Sorted Holdings Limited
The Company is pleased to announce an investment of GBP10
million as part of a GBP15 million Series B funding round conducted
by Sorted Holdings Limited (Sorted), alongside other investors in
the round including Praetura Ventures and NVM Private Equity.
Sorted is a Manchester-based, global Software as a Service
(SaaS) company that has developed a Delivery Management Platform
which allows retailers (both digital and physical) to effectively
manage their delivery and returns proposition. This enables
retailers to increase conversion rates, reduce abandoned baskets
and maintain customer loyalty. Sorted has developed three highly
innovative products:
-- SortedHERO, an application programming interface solution
allowing retailers to display real-time delivery options at
checkout;
-- SortedPRO, a ground-breaking delivery management platform for
carrier and shipping management; and
-- SortedREACT, a powerful AI driven tracking platform that
aggregates carrier and delivery communications post purchase.
Sorted is one of the UK's fastest growing and most disruptive
SaaS companies. It has invested over GBP20 million to date in its
technology and provides global retailers with a best-in-class
solution. Sorted now operates in twelve countries and works with a
number of leading companies, including: ASOS, Lush, N Brown,
Wincanton and Clipper Logistics.
Richard Watts, portfolio manager, comments:
"The delivery management sector is ripe for disruption and we
believe Sorted has emerged as the only credible, global challenger
to the current market leader. We are excited to provide David and
the team with the growth capital required to continue developing
truly innovative technologies and expand internationally."
Update on portfolio composition
As a result of its investment in Sorted, the Company's capital
is approximately 78 per cent invested.
The Company continues to explore a range of further
opportunities and will update the market as appropriate.
For further information, please
contact:
Merian Global Investors:
Amelie Shepherd +44 (0) 20 7332 7500
Liberum:
Gillian Martin / Owen Matthews +44 (0) 20 3100 2000
Maitland Administration (Guernsey)
Limited:
Aimee Gontier / Elaine Smeja +44 (0) 1481 749364
LEI: 213800F9SQ753JQHSW24
A copy of this announcement will be available on the Company's
website at https://www.merian.com/chrysalis/. Neither the content
of the Company's website, nor the content on any website accessible
from hyperlinks on its website for any other website, is
incorporated into, or forms part of, this announcement nor, unless
previously published by means of a recognised information service,
should any such content be relied upon in reaching a decision as to
whether or not to acquire, continue to hold, or dispose of,
securities in the Company.
This announcement may include "forward-looking statements". All
statements other than statements of historical facts included in
this announcement, including, without limitation, those regarding
the Company's financial position, business strategy, plans and
objectives of management for future operations (including
development plans and objectives relating to the Company's products
and services) are forward-looking statements.
Forward-looking statements are subject to risks and
uncertainties and accordingly the Company's actual future financial
results and operational performance may differ materially from the
results and performance expressed in, or implied by, the
statements. These factors include but are not limited to those
described in the formal Prospectus. These forward-looking
statements speak only as at the date of this announcement. The
Company expressly disclaims any obligation or undertaking to update
or revise any forward-looking statements contained herein to
reflect actual results or any change in the assumptions, conditions
or circumstances on which any such statements are based unless
required to do so by the Financial Services and Markets Act 2000,
the Listing Rules or Prospectus Rules of the Financial Conduct
Authority or other applicable laws, regulations or rules.
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END
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