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- Merian Chrysalis commits £20m to financial crime risk management company
Merian Chrysalis (MERI), the growth capital sector trust, has released a portfolio update, including a new investment in Featurespace, a leader in financial crime risk management for fraud and anti-money laundering.
MERI has invested £20m in Featurespace, as part of a £30m funding round. MERI noted the following about Featurespace:
MERI also confirmed that its follow-on investment of £12.2m (announced November 2019) has now completed, enabling Embark to close its acquisition of Sterling ISA Managers and Zurich Investment Services.
As part of a wider funding round, the MERI has also made a £2.6m follow-on investment in Secret Escapes. MERI says this funding will ensure the business is well placed to navigate the covid-19 environment and focus on long-term value generation.
As a result of this morning’s announcements, MERI’s capital is approximately 88% invested.
Manager, Nick Williamson, noted: “MERI entered 2020 well capitalised. This position has given us the opportunity to invest in Featurespace, an asset we’ve been tracking for over a year, while preserving adequate flexibility to support our existing portfolio assets across a range of probable Covid-19 related trading scenarios. As well as being a tremendously exciting asset in its own right, Featurespace’s software model continues to diversify the portfolio’s thematic exposure, an ambition that we set out at IPO.”
MERI: Merian Chrysalis commits £20m to financial crime risk management company
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