Literacy Capital, a listed investment trust focused on investing in UK-based private businesses, makes new investment.

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

Further financial terms remain undisclosed.

Headquartered in London, Cadro combines wealth and investment management services with new technology, providing private clients and institutions with a more modern experience, the firm said in a statement.

Cadro was founded by Natasa Williams and Jordan Buck, who have built private office and private equity businesses in previous roles. They have set up Cadro to provide clients with advice and services enhanced by proprietary digital tools. 

They said their clients benefit from access to a transparent, real-time product, which ensures that 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 firm continued.

The transaction is Literacy Capital's 21st platform investment since the inception of the fund in September 2017, and its first this calendar year.