Chrystal Capital

Co-investment into the Le Tote US$9.5 million Series C

Chrystal Capital Partners LLP is pleased to announce that it has introduced co-investment to the $9.5 million Series C round extension in Le Tote.

Chrystal Capital’s co-investment team partners with leading VC and PE houses to allow family offices, and private investors to access co-investment opportunities alongside these institutions. This gives investors the ability to maintain discretion over their investments and diversify risk, by cherry picking deals originated from the strategic relationships; whilst enabling institutions to utilise full pre-emption rights, provide the capacity to make larger investments and consequently result in additional AUM and fees.

Chrystal introduced family office co-investment alongside an asset manager participating in the Le Tote Series C. Le Tote is an innovative fashion discovery platform for women based in the US. For a monthly subscription, Le Tote provides a box of clothing and accessories for rent, with the option to purchase, from both renowned brands and the Le Tote private brand. Labelled as the Netflix for fashion, the platform leverages artificial intelligence to understand and predict apparel that will appeal to the subscriber. The Le Tote team has already executed a number of significant partnerships with notable labels including Calvin Klein Jeans, Nike, Levi, Rebecca Minkoff, French Connection and many more. This round will enable Le Tote to internationally expand with the launch of Le Tote China.

Investors in Le Tote include Andreesen Horowitz, Google Ventures, Lerer Hippeau Ventures, Sway Ventures and many more. This deal is Chrystal’s first co-investment transaction, enabling family offices and private investors direct access to alternative off market deal flow.

Saavan Shah, Deal Leader at Chrystal Capital, said: “Our new co-investment strategy, allows our investor network to invest alongside top tier institutions. We have a strong pipeline of quality co-investment opportunities, which we look forward sharing with our network in 2018.”

About Chrystal Capital

Chrystal Capital Partners LLP is an established, FCA regulated corporate finance firm with access to a global network of over 500 single family offices.

The firm specialises in being a trusted provider of advisory services to the families, assisting them with their existing portfolio investments, whilst also reviewing new investment cases on their behalf. Opportunities are originated from both within the network and other trusted third parties. The families are based mainly in the UK, Western Europe, North America, GCC and South East Asia.

Chrystal is regularly approached for equity investment by both companies and institutional investors looking for co-investment partners. In each case, our in-depth knowledge of the families’ asset allocations provides a gateway to this alternative source of funding.

Chrystal is sector agnostic and has a global outlook. Click here to download a short summary on our co-investment capabilities.