TIDMCHRY
RNS Number : 2392E
Chrysalis Investments Limited
06 July 2021
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is not for publication, release or distribution in the United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,
Canada, Australia, Japan or the Republic of South Africa.
6 July 2021
Chrysalis Investments Limited ("Chrysalis" or the "Company")
Portfolio Update
The Company is pleased to announce an investment of $67 million
in the US based, cybersecurity company Deep Instinct Limited. This
investment represents a second close to Deep Instinct's recently
announced Series D funding round of $100 million which was led by
Blackrock, with participation from Untitled Investments, The Tudor
Group, Millennium, Unbound and Coatue Management.
The investment consists of both an issuance of new equity from
Deep Instinct and an acquisition of shares from existing
shareholders. The additional investment of new equity means that
Deep Instinct has raised approximately $240m to date and will
enable it to significantly expand its go-to-market capabilities,
while at the same time increasing its best-in-class deep learning
research and product development groups.
Richard Watts (co-portfolio manager) comments:
"We have spent considerable time analysing the cybersecurity
landscape and believe that Deep Instinct has developed
best-in-class technologies. Deep Instinct's cybersecurity platform
utilises end-to-end deep learning to specialise in threat
prevention, making it the most efficient and effective
cybersecurity framework in the market. This technology, focused on
prediction and prevention, is likely to be hugely disruptive, given
its advantages over more prevalent Endpoint Detection and Response
(EDR) solutions.
"With cyberattacks continuing to be a significant risk for
enterprises, including the recent spate of ransomware, we believe
Deep Instinct's technology could prove to be game changing in the
industry. We are delighted to be making this investment and look
forward to working with Guy Caspi (CEO) and the management team as
they execute their aggressive growth plans for 2021 and
beyond."
Portfolio Statement (including cash position)
Following significant portfolio activity over recent weeks, the
Investment Advisor would like to update investors as to the
structure of the investment portfolio. As of 6 July 2021, the
portfolio composition was as follows:
Portfolio Company % of investment portfolio
Klarna 27%
--------------------------
Starling Bank 11%
--------------------------
wefox 8%
--------------------------
THG 8%
--------------------------
Wise 8%
--------------------------
Smart Pensions 6%
--------------------------
Embark 5%
--------------------------
Graphcore 5%
--------------------------
Deep Instinct 4%
--------------------------
You & Mr Jones 4%
--------------------------
Featurespace 3%
--------------------------
Secret Escapes 2%
--------------------------
Sorted 1%
--------------------------
Growth Street 0%
--------------------------
Cash 8%
--------------------------
Source: Jupiter Asset Management. Holdings sizes as of 6(th)
July, are calculated using 31 March 2021 valuations, adjusted for
FX as of 5 July 2021 and capturing transactions concluded post the
NAV calculation period (at cost), and thus the cash as of 5 July
2021. The holding value of THG is based on the closing share price
of 623.5p, as at the March period end. The holding value of Klarna
reflects the recently announced funding round which values the
business at a valuation of $46 billion. Due to rounding, the
figures may not add up to 100%.
Nick Williamson (co-portfolio manager) comments:
"Chrysalis has now completed two new transactions since its own
recent fund raise, as well as two substantial follow-ons in wefox
and Starling Bank, thus demonstrating the team's ability to access
strong deal flow and deploy capital in a timely manner.
Our investment pipeline remains strong, and we continue to
source a wide variety of interesting investment opportunities
across a range of geographies and themes.
The liquidity position of the Company remains robust. We note
the Intention to Float issued by Wise. We believe it is extremely
exciting for the UK market that Wise has chosen to list here; a
successful listing would further bolster the Company's liquidity by
adding another listed asset to the portfolio."
About Deep Instinct
Deep Instinct is the first company applying end-to-end deep
learning to cybersecurity. Deep learning is inspired by the brain's
ability to learn. Once a brain learns to identify an object, its
identification becomes second nature. Similarly, as Deep Instinct's
artificial deep neural network brain learns to prevent any type of
cyber threat, its prediction capabilities become instinctive. Its
zero-time cybersecurity solution stands on top of the only deep
learning framework purpose-built for cybersecurity, allowing Deep
Instinct to process file-based threats faster than other endpoint
solutions. More specifically, its unmatched deep learning approach
offers:
Accuracy - Deep Instinct reduces false positives to 0.1% or
less, compared to an industry average of 26%. A June 2021 survey
revealed that 62% of SecOps professionals feel that threats in
their company could get missed due to the overwhelming volume of
false positives, while 86% believe the tools driven by data science
(AI/Machine Learning/Deep Learning) will make a significant impact
in preventing unknown threats and reducing false positives*.
In addition, as the model is trained to look and detect like a
human, it prevents >99% unknown threats, such as first-seen
malware, zero-days, ransomware, and APT (advanced persistent
threat), as well as known threats. To the best of the company's
knowledge, no Deep Instinct customer has suffered a successful
ransomware attack since the start of the pandemic.
Speed - the low (<1% CPU) computational impact of the
technology makes it the most efficient and effective cybersecurity
solution in the market, with a sub 20 millisecond response time.
Platform-agnostic, Deep Instinct can be quickly deployed across an
organisation to deliver multi-layered protection with negligible
latency.
Model longevity - unlike many other providers that need to
update their platform monthly, Deep Instinct's "brain" requires
only 1-2 updates per year, and remains highly effective after many
months, ensuring offline scanning remains effective.
Impact - A study by leading analyst, Forrester Consulting,
showed an ROI of 446% over a 3 year period, with payback to the
business visible in less than 3 months.
Deep Instinct prides itself on being able to predict and prevent
threats, rather than an EDR solution that is more focused on
response, which in many cases is too little too late. Deep Instinct
prevents malicious files from ever entering an enterprise, thus
substantially reducing the time and cost required to track, trace,
and rectify any infections.
The company's confidence in its technology is reflected in its
provision of both the industry's first false positive warranty, and
the industry's largest ransomware warranty, backed by Munich Re
Group.
* "Voice of SecOps Report 2021", by Hayhurst Consulting,
commissioned by Deep Instinct, June 2021
-S-
For further information, please
contact:
Media: +44 (0) 20 3770 7920
Montfort Communications chrysalis@montfort.london
Charlotte McMullen / Toto Reissland-Burghart
/ Miles McKechnie
Jupiter Asset Management:
Magnus Spence +44 (0) 20 3817 1325
Liberum:
Chris Clarke / Darren Vickers
/ Owen Matthews +44 (0) 20 3100 2000
Numis:
Nathan Brown / Matt Goss +44 (0) 20 7260 1000
Maitland Administration (Guernsey)
Limited:
Elaine Smeja / Aimee Gontier +44 (0) 1481 749364
LEI: 213800F9SQ753JQHSW24
A copy of this announcement will be available on the Company's
website at
https://www.chrysalisinvestments.co.uk/
The information contained in this announcement regarding the
Company's investments has been provided by the relevant underlying
portfolio company and has not been independently verified by the
Company. The information contained herein is unaudited.
This announcement is for information purposes only and is not an
offer to invest. All investments are subject to risk. Past
performance is no guarantee of future returns. Prospective
investors are advised to seek expert legal, financial, tax and
other professional advice before making any investment decision.
The value of investments may fluctuate. Results achieved in the
past are no guarantee of future results. 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 information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
PFUVELFBFDLZBBL
(END) Dow Jones Newswires
July 06, 2021 02:00 ET (06:00 GMT)
Chrysalis Investments (LSE:CHRY)
Historical Stock Chart
From May 2024 to Jun 2024
Chrysalis Investments (LSE:CHRY)
Historical Stock Chart
From Jun 2023 to Jun 2024