Treasury achieves 77% return on stake in ‘adult parts’ venture Business

The Treasury became part owner of a high-end swingers club founded by one of the Duchess of Cambridge’s friends after taking out a Covid bailout loan.

Taxpayers now own a 1.5pc stake in Killing Kittens, a company that organizes ‘adult parties’ focused on female pleasure, following a fundraiser that valued it at £15million sterling.

Killing Kittens was founded by Emma Sayle, 43, a school friend of the Duchess who ran a boating team of which the two were both members.

In mid-2020, Killing Kittens took out a £170,000 loan from a government scheme designed to protect valuable startups from the worst effects of the pandemic. The terms and conditions of the loan contain a clause meaning that it turns into an equity participation each time the beneficiaries raise new investments. Killing Kittens raised £1million in investment earlier this year, according to documents from Companies House.

Future Fund, the bailout scheme, was set up in May 2020 by Rishi Sunak through the state-backed British Business Bank. At its launch, the Chancellor said the fund would “support UK businesses through the pandemic by stimulating investment, so they can continue to innovate in technology and innovation”. Loan recipients were also encouraged to sign the Treasury’s Women’s Investment Code.

Speaking to the Financial Times, Ms Sayle said: ‘The government has already made money on investment. According to Killing Kittens’ current assessment, the taxpayer appears to have achieved a 77% return on investment in “the most decadent, extravagant, and exclusive parties in the industry.”

Before the pandemic, the private company was worth £10m. Since its inception in 2005, Killing Kittens has branched out into dating and social media apps. The Future Fund was intended to keep innovative businesses afloat with business interruption loans, as shutdowns through 2020 and 2021 forced customer service businesses to close.

The British Business Bank said: “The Future Fund used a standard set of terms with published eligibility criteria. The process provided a clear and effective way to make funding available as widely and as quickly as possible without requiring lengthy negotiations. Applications that met all eligibility criteria received an investment.

Ms Sayle raised her eyebrows in 2015 after throwing an adult party at London’s first Islamic Sharia-compliant hotel.
She also angered former Gogglebox stars Steph and Dom Parker in 2014 after renting their £3.5million Kent mansion, describing it as a ‘beautiful’ venue for a 60-person masked orgy.

The name Killing Kittens refers to an apocryphal saying that the Almighty strikes helpless cats to punish those who engage in the hedonistic pursuit of personal pleasure.

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This notice was published: 2022-06-27 09:24:21

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