According to the Financial Times, the UK taxpayer has a 1.5% stake in the company after Killing Kittens raised £1million from investors
It has been revealed that the UK government has invested in sex party planning company Killing Kittens.
The taxpayer now owns an estimated 1.5% stake in the company, the Financial Times reports.
Killing Kittens received the investment through Finance Minister Rishi Sunak’s Futures Fund, which was set up to help companies during the Covid-19 pandemic.
Here’s everything you need to know about who Killing Kittens are.
What is kitten killing?
Killing Kittens is an elite sex party planning company.
Aimed at female pleasure, it organizes parties for singles and couples to enjoy members-only events in top locations around the world including London and New York.
Members are screened beforehand and submit photos for approval.
They must abide by rules including: a vetted guest list, no single men, and a ban on men approaching women they don’t know, with women doing the approach instead.
Guests wear masks to the events and sign exclusive non-disclosure agreements to protect their privacy.
The company has an estimated 180,000 members and an annual turnover of £1.4 million.
Who founded it?
Killing Kittens was founded in 2005 by Emma Sayle.
A former friend of the Duchess of Cambridge, the sex party planning website is known for organizing raunchy parties around the world.
Why did the UK government invest in Killing Kittens?
The UK government invested in Killing Kittens through the Future Fund, launched by Finance Minister Rishi Sunak in April 2021.
Under the scheme, businesses that had been hit hard by Covid-19 lockdowns could apply for a loan through the British Business Bank.
This has been expanded to cover companies based abroad and start-ups.
According to the Financial Times, the UK taxpayer has a 1.5% stake in the company after Killing Kittens raised £1million from investors.
In an interview with Sky News, Sayle explained that the UK taxpayer has already seen a return on the investment made.
She said: “The government’s share of 170,000 is already up 60% to 270,000 after that 1m increase, so we’ve easily shown it’s a worthy deal given the hundreds of FF-Biz (companies) that are went into administration and pulled government money out the pan with them.
“We have clearly shown that we are making progress… and making relevant decisions to secure money for all investors, including the UK Government.
“As much as they were pressured to give the money, they were there to support profitable businesses regardless of industry, and through the conversion we have shown that we also stand by our word by delivering at short notice what what we promised.”
What was the futures fund?
Sunak launched the Futures Fund in May 2020 to help companies hit hard by the pandemic.
Since its inception, the UK Treasury has invested in more than 150 startups.
Under the scheme, convertible loans ranging from £125,000 to £5 million were offered by the British Business Bank.
Types of businesses include a solar power startup, a photography studio, and a VR games company.
The Futures Fund closed to companies in January 2021
Regarding Killing Kittens, British Business Bank said in a statement: “The Future Fund used a standard set of terms with published eligibility criteria.
“The process provided a clear and efficient way to make funding available as comprehensively and as quickly as possible without protracted negotiations.
“Applications that met all eligibility criteria received an investment.”
https://www.nationalworld.com/lifestyle/money/killing-kittens-what-is-sex-party-planning-firm-who-is-founder-why-did-uk-government-fund-business-3748954 Killing Kittens: What is a sex party planning company?