Literacy Capital PLC, which describes itself as a differentiated private equity investor, announced it intends to float in London.
It plans to list on the Specialist Fund Segment of the Main Market of the London Stock Exchange.
The company’s strategy is to invest in a diversified portfolio consisting primarily of equity and equity-related securities issued by unquoted companies. At the end of March, it had a net asset value of £96.4mln.
Specifically, it invests in ‘founder-led and owned businesses’ and seeks to participate as an active shareholder.
Literacy Capital said it seeks fair and aligned outcomes for management teams and shareholders of its investee companies , and seeks to build businesses with “larger, long-term ambitions”.
Led by chief executive Paul Pindar, who co-founded Capita in 1987, the company’s management team hold some 55.2% of the company’s shares (either directly or via connected parties).
"Literacy Capital is delighted to bring this compelling opportunity to market, providing investors access to a differentiated investment approach to private equity,” Paul Pindar said in a statement.
“We believe we have a unique offering, an alternative way of working with founders and owners of small businesses that offers strong, long-term investment support with a social purpose at its centre."
Chief executive Richard Pindar, meanwhile, added: “We invest in founder-led and owned businesses that we can work closely with as engaged and active shareholders to offer guidance and encourage innovation in this under-served part of the market.
“We can help to attract high calibre individuals to create complete teams, which can assist these companies thrive long term."