REG - Chrysalis Invs Ltd - New Independent Valuation Committee

Chrysalis InvestmentsAnnouncement

07/06/2022 07:00

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RNS Number : 8705N  Chrysalis Investments Limited  07 June 2022

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7 June 2022

Chrysalis Investments Limited (the "Company")

New Independent Valuation Committee

The Board of the Company has appointed a new independent valuation committee
in preparation for its previously announced move to a self-managed structure
from 1 July 2022. Under the new structure, the Company's existing management
team at Jupiter led by Richard Watts and Nick Williamson will continue to
provide discretionary portfolio management services, while the Company will
assume direct responsibility for the valuation process. The existing
arrangement, under which it is the responsibility of the external AIFM to
provide the Board with valuations for unlisted holdings, will cease as of 30
June.

The Board are of the view that the valuation process needs to be as efficient
as possible while also providing for comprehensive and independent oversight.
We are therefore pleased to announce today that the members of that committee
will be as follows:

Lord Rockley (Committee Chairman)

Anthony Rockley was an audit partner at KPMG until 2015 with a sector focus on
private equity and venture capital. Over a 34 year career with KPMG, Anthony
has been responsible for auditing private equity and venture capital companies
and structures.  Amongst other sector specific work, Anthony was a member of
International Private Equity and Venture Capital Guidelines Board for 9 years.
The Board is delighted that Anthony has agreed to become chairman of the new
valuation committee.

Diane Seymour Williams

Diane Seymour Williams has a career spanning over 30 years in asset and wealth
management. She was a listed portfolio manager with Deutsche Morgan Grenfell,
ultimately running DMG's asset management business in Asia. After returning to
the UK, Diane subsequently held a number of board positions in the financial
services sector. Currently she sits, inter alia, on the boards of abrdn
Private Equity Opportunities Trust plc, Mercia Asset Management Plc and SEI's
European business. Diane brings extensive fund management and portfolio
oversight experience. In addition to her public company roles Diane sits on
the investment committees of Newnham College, Cambridge and the Canal &
River Trust.

Jonathan Biggs

Jonathan Biggs worked at Accel, a leading global venture and growth capital
investor, for 20 years up until 2021. One of the first hires in Europe, he was
the COO of Accel's European business. During his time at Accel, he raised over
$2.5bn in five early stage venture funds focused on Europe. Jon has
subsequently joined SVB Capital as a managing partner where he is a senior
leader in its funds management business. Jonathan's venture investing
experience in the Company's sector over many years will be extremely helpful
to the committee in its assessment of the portfolio.

The fourth member of the committee will be Tim Cruttenden who has been a
director of the Company since its formation. Tim is CEO of VenCap
International plc, one of Europe's largest fund of fund investors in the
venture and growth capital sectors. Tim's knowledge of the sector, portfolios
and investments will be extremely beneficial to the committee.

Andrew Haining, Chairman of the Company commented:

"I am delighted that Chrysalis has been able to attract such a well-qualified
group of individuals whose combined skill sets cover all the aspects required
for the valuing of an unlisted portfolio. Credibility in our valuation process
is absolutely fundamental to our shareholders. I am sure the new committee
will provide fresh input and rigour, enabling us to build on the work carried
out by the Jupiter valuation committee. I believe our existing (and
prospective) shareholders will be able to take great comfort from the combined
experience being brought to bear in our valuation process going forward.

One of our key goals is to make the valuation process for Chrysalis as
efficient and timely as possible whilst at the same time satisfying the
market's requirement for thoroughness, independence and consistency. I am
certain the skills these new committee members bring will enable us to achieve
that goal."

-ENDS-

For further information, please contact:

 Media:
 Montfort Communications:                               +44 (0) 7542 846 844
 Charlotte McMullen /Georgia Colkin /Lesley Kezhu Wang  chrysalis@montfort.london
 Jupiter Asset Management:                              +44 (0) 20 3817 1696
 James Simpson
 Liberum:                                               +44 (0) 20 3100 2000
 Darren Vickers / Owen Matthews / Chris Clarke
 Numis:                                                 +44 (0) 20 7260 1000
 Nathan Brown/ Matt Goss
 Maitland Administration (Guernsey) Limited:            +44 (0) 1481 749364
 Elaine Smeja / Aimee Gontier

 

LEI: 213800F9SQ753JQHSW24

A copy of this announcement will be available on the Company's website at:

https://www.chrysalisinvestments.co.uk/
(https://www.chrysalisinvestments.co.uk/)

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.

 

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