Announcement: New Address

Chrystal Capital has moved to a new address on Grosvenor Street in Mayfair

CHRYSTAL CAPITAL PARTNERS HAS MOVED!

Over the past year, the company has experienced significant growth and introduced several new services for our broad investor network. With this comes the need for more staff which has seen the company outgrow our office in Berkeley Square.

Our new address is:

24 Grosvenor Street
London
W1K 4QN

All our other contact details remain the same.

We look forward to seeing you at our new office soon.

Announcement: Chrystal 10th anniversary

10th anniversary celebrations at Chrystal Capital’s Summer Party in Mayfair, London

On Thursday 11th July, Chrystal Capital celebrated its 10th anniversary at the company’s annual Summer Party hosted at The Terrace, No. 4 Hamilton Place in Mayfair, London.

Rooftop terrace with G&T’s at sunset

Overlooking Hyde Park, the rooftop terrace served as an excellent location for over 300 of Chrystal’s broad investor network who joined in the birthday celebrations.  

Keeping all things British, HMS Spirits served up their quintessential G&T along with the 'stonkingly good' English sparkling wine offered by Nyetimber.  Internationally renowned DJ Guy Preston - who has performed alongside artists such as Beyonce, Sting and Kanye West -  kept the party rocking, while world-class magician Archie Manners had everyone guessing.

Anniversary Celebrations

Celebrating its 10th anniversary in 2019, Chrystal Capital are proud of the entrepreneurial and innovative approach to financing which has seen the corporate finance and investment house proliferate over the past decade.

Deal Announcement: Candid Co.

Candid Closes $63 Million Series B

Candid, a direct-to-consumer brand expanding access and affordability to oral health care, announced it raised a $63.4M Series B financing round. Participating in the round were Candid’s Seed and Series A investors, including Greycroft, Bessemer, and e.ventures, and featured participation from new investors, including RiverPark Funds, blisce, Redesign Health’s limited partners, and Mousse Partners. This brings Candid’s total funding to nearly $90 million.

The Series B round will fuel Candid’s rapid growth through both its retail and at-home channels, as well as provide capital to double the number of employees to 550 by the end of the year. Candid will be opening an additional 50 Candid Studios across the United States — bringing the total number of retail locations to more than 60 — offering an unparalleled in-person experience to those who seek it while continuing to offer remote treatment for patients in harder-to-access areas of the country. In just 18 months of operation, Candid has already opened 13 studios in major cities across the U.S. and served tens of thousands of customers.

Candid also announced it is donating $25 from every set of aligners it sells to Smile Train , a charity that supports free cleft surgery and comprehensive cleft care for children around the world. This partnership will result in at least 1,000 more cleft surgeries for children in 2019.

For more information or to view Candid’s studio locations visit Candidco.com

Chrystal Capital launches a new look and reflects on its achievements in 2018

Reflecting on 2018, Chrystal Capital had an exceptional year advising and fundraising on transactions valued at over USD400 million for new and existing clients. 

The year started with two rounds into a long-standing client that saw our global network of Single Family Offices (SFOs) and Ultra High Net Worth Individuals (UHNWIs), continue to fund a new social and environmental presence in London, The Conduit.  Embracing our client’s ethos, we introduced both capital and contacts to support this socially impactful members’ club.  

Co-investment leads the way

Our newly created co-investment team went from strength to strength during 2018. Led by Chrystal Capital partner, Stephen Ford, the team worked on multiple private equity co-investment fundraises that enabled our investor community to take advantage of our growing institutional partnerships.  

Both family offices and UHNWIs were able to cherry pick from a curated selection of high-quality investments, from a USD80 million Series E SaaS fundraise to an exciting new fashion discovery platform labelled the “Netflix of Fashion.” 

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Demand for off-market deals increased in 2018 

Our Special Situations team advised on and raised more than USD270 million for off-market, esoteric businesses globally.  

The demand from SFOs and private investors to invest in non-standard business opportunities was welcomed by the companies whose desire for flexible capital meant each Chrystal Capital fundraise was heavily oversubscribed.  

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Anniversary celebrations in 2019

Celebrating our 10th anniversary in 2019, we are excited to announce a refreshed Chrystal Capital.  

Visually embracing our namesake, our new brand design reflects both the Chrystal Capital ethos and our personality as an entrepreneurial and innovative corporate finance and investment firm.  

We have also expanded our resources by offering our global network of investors a curated portfolio of services that include a corporate and family office advisory team, and a private office service.  

For us, best-of-breed is standard practice.  

Deal Announcement: Harvest Health & Recreation

Harvest Health & Recreation Inc. Announces Completion of its Business Combination

Harvest Health & Recreation Inc. (the “Company”), formerly RockBridge Resources Inc. (“RockBridge”), is pleased to announce that it has completed its previously announced business combination (the “Business Combination”) with Harvest Enterprises Inc. (“Harvest”). In connection with the Business Combination, on November 13, 2018, an affiliate of Harvest, HVST Finco (Canada) Inc. (“Harvest Finco Canada”) completed a brokered private placement offering of subscription receipts for aggregate gross proceeds in the amount of US$218,149,676 (the “Offering”). The Offering was co-led by Eight Capital, Canaccord Genuity Corp. and GMP Securities L.P. (the “Co-lead Agents”), on behalf of a syndicate of agents including Beacon Securities Limited, Cormark Securities Inc. and Haywood Securities Inc. (collectively, the “Agents”). Eight Capital acted as the sole bookrunner in connection with the Offering.

Completion of the Offering

On November 13, 2018, Harvest Finco Canada completed the Offering pursuant to which Harvest Finco Canada issued 33,305,294 subscription receipts (the “Subscription Receipts”) at a price of US$6.55 per Subscription Receipt (the equivalent of C$8.67, based on the Bank of Canada exchange rate of C$1.3241 per US$1.00 on November 13, 2018) for gross proceeds of US$218,149,676. In connection with the closing of the Business Combination, 33,305,294 Subscription Receipts issued pursuant to the Offering were automatically converted into 33,305,294 common shares in the capital of Harvest Finco Canada and then exchanged into subordinate voting shares of the Company on a one-for-one basis.

The Company has received conditional approval from the Canadian Securities Exchange (“CSE”) for the listing of its Subordinate Voting Shares, which are expected to commence trading on the CSE under the ticker symbol “HARV” at market open on Thursday, November 15th, 2018. Listing is subject to the Company fulfilling all listing requirements of the CSE. Cassels Brock & Blackwell LLP acted as counsel and Marquis Partners LP acted as financial advisor to Harvest in connection with the transaction. Full details of the Company including the Business Combination are set out in the Company’s listing statement dated November 14th, 2018 (the “Listing Statement”). A copy of the Listing Statement can be found under RockBridge’s (now the Company’s) profile on SEDAR at www.sedar.com.

About Harvest Health & Recreation Inc.

Harvest Health & Recreation Inc. is one of the first consistently profitable, vertically integrated cannabis companies with one of the largest footprints in the U.S. Harvest’s complete vertical solution includes industry-leading cultivation, manufacturing, and retail facilities, construction, real estate, technology and operational expertise — leveraging in-house legal, HR and marketing teams, along with proven experts in writing and winning state-based applications. The company has more than 250 employees with proven experience, expertise and knowledge of in-house best practices that are drawn upon whenever Harvest enters new markets. Harvest’s executive team is comprised of leaders in finance, compliance, real estate and operations. Since its founding in 2011, Harvest has grown its footprint every year and now has licenses in eight states, with planned expansion into additional states by 2020. Harvest shares timely updates and releases as part of its regular course of business with the media and the interested public.

For more information, visit: https://www.harvestinc.com/.

Chrystal Capital picks hot topic Succession Planning as first in series of breakfast talks

Earlier today, Chrystal Capital hosted the first in a new series of breakfast talks, and this mornings topic is considered one of the most significant concerns among family offices’ - Succession Planning.

Chaired by David Alexander from Pall Mall Family Office, over 18 SFOs gathered for breakfast at 5 Hertford Street to hear from two next-generation family members who have been or are currently going through the succession planning process.

Both Ben Goldsmith and H.E. Sheikh Nasser Bin Abdulaziz Al-Thani talked openly about their experiences, and offered our network insight into the challenges and, interestingly, the cultural differences that prevail in succession planning.

It is estimated that in the next 15 years over 69%* of single family offices are expected to undergo a generational transition. Securing a willing and able next generation of family members, who want to be involved in the management of their families’ wealth requires succession planning. In 2017, almost half of the family offices interviewed in the Campden Wealth Report stated that they have some form of plan in place, with another third still developing their strategies.

This event was the first in a newly launched Petit Déjeuner Breakfast Series organised by Chrystal Capital, where our investor network has the opportunity to hear first hand from their peers whose experiences have garnered significant recognition within their respected industry.

More Events articles >

*Campden Waalth Report 2017/2018.

Deal Announcement: The Conduit

Chrystal Capital embraces The Conduit’s mission introducing both capital and members

Chrystal Capital has closed on a successful fundraise that saw family offices, UHNWIs, and entrepreneurs invest over £10.2million into London based  home for social change, The Conduit. This funding round followed the completion of two earlier fund raises in 2017. 

Embracing their client’s ethos, Chrystal Capital utilised its strong network to introduce both capital and contacts to support this socially impactful members’  club.    

A club with a social and environmental purpose 

The Conduit has a mission: to serve as a home for the diverse community of people passionate about social change. Acting as a catalytic platform, this  newly-founded club housed in the centre of London will bring  together social entrepreneurs, investors, creatives, business leaders, policy-makers and civil society to help tackle some of the most pressing challenges facing the world today. 

“Chrystal Capital were valued partners who introduced us to a global network of investors. They worked tirelessly, providing a strong mix of corporate advisory and fund-raising services.”

— Nick Hamilton, Co-Founder, The Conduit

Chrystal Capital saw significant buy in from family offices, whose desire to invest in social impact projects that are both profitable and socially responsible, paved the way for The Conduit opportunity to be a huge success. 

“We have now worked with The Conduit on three rounds of funding to assist in the completion of their first project in London. The concept and ethos of The Conduit  to support social change by impact investing and support to scale-ups is something many of the family offices  that we work with around the world  are also committed to.”

— James Innes, Partner, Chrystal Capital

More Family Office articles >

Deal Announcement: MPX Bioceutical Corp

MPX Raises US$40 Million Secured Convertible Loan to Fund Capacity Development of MPX Assets and Acquisitions

MPX Bioceutical Corporation (“MPX” or the “Company”) (CSE:MPX) (OTC:MPXEF) is pleased to announce that it has successfully completed a US$40,000,000 secured convertible original issue discount loan (the “Convertible Loan”) financing (the “Offering”) maturing on May 25, 2021 (the “Maturity Date”). While non-interest bearing, the Convertible Loan has been issued at a discount price of US$812.06 per US$1,000 of principal and will accrue value at a rate of 7% per annum compounding on a quarterly basis until the Maturity Date. The Convertible Loan has been issued through a wholly-owned Luxembourg subsidiary of MPX (“MPX Luxembourg”). 

Use of Proceeds

The proceeds of the Offering will be used primarily for accretive activities including capacity expansion, acquisitions, and to support activities involved with securing new cannabis extraction, production and dispensary licenses in various jurisdictions in both the United States and Canada.

In addition, US$9,500,000 will be reserved for payment of the seller notes due on June 30, 2018 in respect of the acquisition of 99% of the membership units of GreenMart of Nevada NLV, LLC in December 2017.

“The pace of growth in our industry continues to accelerate with several U.S. states launching new cannabis legalization programs, the Canadian provinces designing and implementing retailing initiatives and acquisition opportunities arising on both sides of the border and, indeed globally. We have been introduced to multiple expansion opportunities and will be providing our shareholders and the market with an update on our progress on several of these in the next few days”

— W. Scott Boyes, Chairman, President and CEO of MPX

“We are also witnessing the emergence of significant consolidation activity as several larger North American industry participants have made announcements regarding transactions that would result in larger national, or international, footprints for the combined entities. Larger cannabis entities will facilitate more effective brand awareness, product development and cost efficiencies. These are exciting times for our industry and having access to capital is critical for MPX to exploit the growth opportunities presented by this market. This current funding was arranged in a few short weeks without the need for the involvement of an investment bank demonstrating the confidence of shareholders and the capital markets in MPX’s business plans, its execution to-date and its growth trajectory”

— Mr. Boyes

About MPX Bioceutical Corporation

MPX, an Ontario corporation, through its wholly-owned subsidiaries in the U.S., provides substantial management, staffing, procurement, advisory, financial, real estate rental, logistics and administrative services to three medicinal cannabis enterprises in Arizona operating under the Health for Life (dispensaries) and the award-winning Melting Point Extracts (high-margin concentrates wholesale) brands. The successful Health for Life brand operates in the rapidly growing Phoenix Metropolitan Statistical Area.  With the acquisition of The Holistic Center, MPX adds another operating medical cannabis enterprise to its footprint in Arizona.

GreenMart of Nevada NLV, LLC (“GreenMart NV”) is an award winning licensed cultivation, production and wholesale business, licensed for both the medical and “adult use” sectors in Las Vegas, Nevada, and is already selling wholesale into the Nevada medical cannabis market. GreenMart NV has also optioned suitable locations and intends to enter the higher-margin retail arena by applying for at least two dispensary licenses in the Las Vegas market which will operate under the “Health for Life” brand.

In Massachusetts, MPX is building out and will operate a cultivation and production facility as well as up to three dispensaries and manages three full service dispensaries and one producer in Maryland.

The Company also leases a property in Owen Sound, Ontario, for which an application to Health Canada has been made for a cannabis production and sales license. In addition, the Company will continue its efforts to develop its legacy nutraceuticals business.