Chrysalis Investments has invested $65m (£47m) into a data infrastructure start-up as it continues purchasing new positions for the portfolio.
The £1.4bn investment trust participated in the Series B funding round of the US-based parent company of Infosum.
Founded in 2016, Infosum specialises in “data collaboration” by connecting customer records between and among companies without sharing data, enabling businesses to be compliant with privacy laws, including GDPR.
Its platform, which launched in 2019, has been used by global businesses in financial services, CTV, retail, healthcare, gaming, and entertainment.
The contribution from Chrysalis will go toward funding Infosum’s engineering resources and sales and marketing capabilities and help the business as it looks to boost its international presence.
Chrysalis managers Richard Watts (pictured left) and Nick Williamson (pictured right) said Infosum sits within “a significant addressable market”.
“Infosum has developed proprietary technology that ensures brands can enrich their data with other parties without it leaving their environment. This offering has driven one of the fastest scale-up revenue streams we have come across in the software space, and significant engagement from major customers,” the pair said.
“Given the nature of the product, Infosum demonstrates ‘network effect’ potential, which we believe will be fundamental to driving future revenue growth.”
This is the fourth new investment Chrysalis has made in the past month. In July it snapped up stakes in US cybersecurity company Deep Instinct and retirement savings platform Smart Pension. It also pledged £45m to Revolution Beauty ahead of its expected IPO.
See also: Chrysalis splashes £50m on US cybersecurity company
Watts and Williamson said Chrysalis’ liquidity and cash positions remain “robust”.
The trust has been bolstered by a partial realisation of its holding in digital payments firm Wise, which has seen shares surge by 25% since its July debut on the London Stock Exchange.
It received another windfall later that month after its longstanding holding Embark was sold to Lloyds Banking Group.
See also: Lloyds Bank buys retirement platform Embark for £390m
