Hedge fund Coltrane Asset Management unveiled a short position in UK investment trust Chrysalis Investments — a bet that is the latest sign short-sellers are targeting companies that invest in early-stage tech companies.

Coltrane is a New York activist fund run by Mandeep Manku, a Deutsche Bank alum and former trader at Dan Loeb's hedge fund Third Point. Jupiter Asset Management's publicly listed Chrysalis Investments invests in mostly unquoted firms.