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QuotedData’s morning briefing 6 July 2021

In QuotedData’s morning briefing 6 July 2021:

  • Chrysalis Investments (CHRY) has acquired a $67m investment in US based cybersecurity firm Deep Instinct. The investment consists of both an issuance of new equity and acquisition of shares from existing shareholders. The additional investment of new equity means Deep Instinct has raised approximately $240m to date. The investment represents a second close to Deep Instinct’s recently announced Series D funding round of $100m which was led by Blackrock. Richard Watts, co-manager of Chrysalis, said: “We have spent considerable time analysing the cybersecurity landscape and believe Deep Instinct has developed best-in-class technologies. Its 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.
  • FastForward Innovations (FFWD) has taken £175,000 of the £2.1m issuance of Convertible Loan Notes by research-led cannabis healthcare company, CiiTECH Limited. FFWD used existing cash resources to invest in the 24-month CLN, which is being issued ahead of CiiTECH’s intended reverse takeover by Fragrant Prosperity Holding, announced earlier this year. Ed McDermott, chief executive officer of FastForward, said: “CiiTECH is an established company with an outstanding reputation as a consumer facing brand-builder while being dedicated to medical cannabis research. We are delighted to have made this investment alongside other professional and ultra-high-net-worth investors, again broadening our exposure to the cannabis and wellness industry. We look forward to supporting CiiTECH with its aggressive growth as it advances towards a London listing.”
  • Apax Global Alpha (APAX) has an investment in Apax IX Fund. It has a stake in Baltic Classifieds Group, an online classified advertising business. That company just IPOd on 30 June. Apax Global Alpha got €10.8m by selling shares in the IPO and, based on the closing price for Baltic Classifieds of 210p at 5 July, Apax Global Alpha’s remaining exposure to Baltic Classifieds was worth €20m. This equates to an uplift of about 76% or €13.1m and an uplift of about 1.0% of AGA’s adjusted NAV (or €0.03 per share) at 31 March 2021.

We also have full year reports from Miton UK Micro CapSequoia Economic Infrastructure Income, Henderson Diversified Income and Artemis Alpha. Meanwhile, HydrogenOne Capital Growth published its prospectus.

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