Chrysalis Investments reported a 17% decline in its quarterly net asset value. The firm attributed the decline to valuation write-downs for its holdings in Klarna and Starling. Chrysalis cited a material derating of Klarna following the fintech company's downgraded 2026 profit guidance. This adjustment relates to the accounting treatment of a specific financing product.
Chrysalis maintains confidence in Klarna’s long-term business model. Klarna recorded 32% gross merchandise value growth in the fourth quarter of 2025. Chrysalis expects the company to reach accelerated profitability in the future. Klarna’s board chair acquired $50 million in shares during the reporting period.