RCS - Literacy Capital PLC - New Investment

Literacy CapitalAnnouncement

13/04/2023 07:00

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RNS Number : 0295W  Literacy Capital PLC  13 April 2023

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13 April 2023

 

Literacy Capital plc ("Literacy Capital" or the "Company")

 

Literacy Capital announces new investment in Cadro Technologies

 

New investment

 

Literacy Capital is pleased to announce an investment into Cadro Technologies
("Cadro"), a technology-enabled wealth and investment management company.

 

Literacy Capital will acquire a minority stake. Further financial terms have
remained undisclosed.

 

 

Literacy Capital completes investment into Cadro Technologies

 

Literacy Capital plc has completed an investment into Cadro, a
technology-enabled wealth and investment management company, which gives the
Company a minority stake.

Headquartered in London, Cadro combines wealth and investment management
services with powerful new technology, providing private clients and
institutions with a more modern experience and better outcomes.

Cadro was founded by Natasa Williams and Jordan Buck, who have built
successful private office and private equity businesses in previous roles.
They saw that their clients were modernising faster than the traditional
investment management sector, and developing needs that weren't being met by
legacy providers.

As a result, they co-founded Cadro, which gained authorisation from the FCA in
November 2022, with the intention of providing clients trusted advice with
quality service, enhanced by proprietary digital tools. Cadro clients benefit
from access to a transparent, real-time product, ensuring users remain up to
date with portfolio performance, market insights and important decisions taken
on their behalf.

Literacy Capital is investing to support and accelerate the growth of the
business. Many wealth and investment managers are highly traditional and have
not adapted to cater to the needs of modern high-net-worth individuals and
institutions. The Cadro team has a proven track record of managing these types
of clients and their investments, and a strong awareness of the evolving needs
of the industry.

The transaction is Literacy Capital's twenty-first platform investment since
the inception of the fund in September 2017, and its first of this calendar
year.

The transaction completes, once written consent is received from the FCA.

 

 

Enquiries

For further information, please contact:

 

   Literacy Capital plc / Literacy Capital Asset Management LLP:

   Richard Pindar / Tom Vernon                                      +44 (0) 20 3960 0280

   MHP Communications:

   Reg Hoare / Ollie Hoare / Matthew Taylor                         +44 (0) 20 3128 8276

                                                                    book@mhpgroup.com (mailto:book@mhpgroup.com)
   Singer Capital Markets Securities Limited:

   Robert Peel                                                      +44 (0) 20 7496 3000

 

About Literacy Capital:

 

Literacy Capital (BOOK.L) is an investment trust that was launched in 2017 by
Paul Pindar and Richard Pindar, before it listed on the London Stock
Exchange's main market in June 2021. The Company focuses on opportunities to
invest for the long-term in growing private UK businesses where a clear route
to creating additional value can be seen. It also has a unique charitable
objective to donate 0.9% of annual NAV to charities focused on improving
literacy in UK children. £5.8 million has been donated or reserved for
donation to charities since the trust's creation in 2017 up until the end of
2022. For more information, please visit our website: www.literacycapital.com
(http://www.literacycapital.com) .

 

 

Website:

www.literacycapital.com

 

LEI: 2549006P3DFN5HLFGR54

 

A copy of this announcement will be available on the Company's website at
www.literacycapital.com (http://www.literacycapital.com) .

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