London Stock Exchange-listed investment trust Literacy Capital has agreed a deal to buy a minority stake in wealth and investment manager Cadro.
The financial terms of the deal were not disclosed. The deal will be completed after the firm receives written consent from the Financial Conduct Authority (FCA).
Headquartered in London, Cadro offers tech-driven wealth and investment management services to private clients and institutions.
Cadro was founded by Natasa Williams and Jordan Buck. The firm gained authorisation from the FCA in November 2022.
Literacy Capital said that it is investing “to support and accelerate the growth of the business”.
It added: “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.”
This story originated on our sister title, International Adviser.