Investor Profile: Chrysalis Investments - Thesis, Cheque Size & How to Apply

Chrysalis Investments funding works differently from a normal venture fund, and founders who miss that difference waste their time. Chrysalis Investments is a London-listed investment company that backs growth-stage technology companies, largely in the UK and Europe, and gives public-market investors exposure to private technology businesses. Its biggest holdings are household names in fintech. Here is how to get funding from Chrysalis Investments.

Investment thesis: how to get funding from Chrysalis Investments

The thesis is crossover investing: back leading technology companies late in their private lives, hold them towards and beyond listing, and generate long-term capital growth. Chrysalis Investments describes itself as focused on generating long-term capital growth and providing investors with exposure to some of the world's leading technology companies.

Sectors and stages

Chrysalis Investments invests at growth and late stage, in technology-led businesses across fintech, banking, payments, insurance, pensions and related digital services, with other technology exposure through holdings such as Brandtech and Deep Instinct. Its portfolio at 30 September 2025 was dominated by UK and European companies: Starling, the UK challenger bank; Smart Pension, the workplace pension platform; Klarna, the payments company; and wefox, the European digital insurance platform.

Fund size and cheque size

Chrysalis Investments is a listed company, not a closed venture fund, so its size is measured in net assets, which move with markets. At 30 September 2025, its financial year-end, net assets were 875 million pounds, up 4.1% from 840 million pounds a year earlier, with net asset value per share of 171.65 pence, up 22% from 141.26 pence. Later quarters were lower, so quote the date with any size figure. Individual cheque size is not published as a standard range.

Notable portfolio

At 30 September 2025, Starling accounted for 46.5% of net asset value, Smart Pension for 14.1%, Klarna for 13.2% and wefox for 10.5%, with smaller holdings in Brandtech, Deep Instinct, Secret Escapes, Wise and Sorted. Realisations included the sale of Featurespace to Visa for 80 million pounds cash proceeds in the year, and InfoSum to WPP for 49.8 million pounds.

Partners and team

Chrysalis Investments is advised by its investment adviser, with Richard Watts and Nick Williamson as managing partners of the investment adviser, and Andrew Haining as chair. Jupiter Investment Management has served as investment adviser, and regulatory announcements also name Chrysalis Investment Partners LLP as investment adviser, so check the current adviser naming in the latest annual report rather than relying on a single older source.

Programmes, credits and perks

Chrysalis Investments offers no founder programme, credits package or accelerator perk, and founders should not expect one. The board has proposed no new investments, maximising existing portfolio value and returning capital over three years, via tender offers or buybacks. Check its adoption status in the latest announcement.

How to apply for funding

Founders do not apply directly to Chrysalis Investments. It is a listed investment company that selects growth-stage investments through its investment adviser; there is no published founder application form, pitch email or open call, and none is invented here.