Risk Warning The value of investments can fall as well as rise and any income from them is not guaranteed and you may get back less than you invested. Past performance is not a guide to future performance.
By Sean Farrell
Date: Tuesday 06 Jul 2021
LONDON (ShareCast) - (Sharecast News) - Chrysalis Investments has invested $67m (£48m) in Deep Instinct, a US cybersecurity company, in the company's latest stake purchase since its recent fundraising.
The investment comprises new equity from Deep Instinct and new shares from existing holders. Deep Instinct has raised about $240m to expand its capabilities and spend on research.
Chrysalis said it had analysed the cybersecurity market carefully before investing in Deep Instinct. The industry is booming as companies seek to protect their operations from hostile attacks, especially with many employees working from home.
Deep Instinct will represent 4% of Chrysalis's portfolio. Its biggest holdings are in Klarna, the consumer credit business, and Starling Bank. Chrysalis increased its investment in Starling by £35m in June after raising £300m in March.
Richard Watts, Chrysalis's joint portfolio manager, said: "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."
Chrysalis shares rose 0.2% to 245.5p at 09:15 BST.
|52 Week High||277.00p|
|52 Week Low||180.00p|
Compare performance with the sector and the market.
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|Time||Volume / Share Price|
|14:39||2,212 @ 189.00p|
|14:39||2,206 @ 189.50p|
|14:39||415 @ 190.45p|
|14:37||1,000 @ 190.45p|
|14:37||10,000 @ 190.50p|