- Literacy Capital said its investee Butternut Box, a business providing healthy, fresh dog food on a subscription to dog owners' doors, had finalised a funding round to raise further equity to support the continued growth of the business.

As at 30 June 2021, Butternut Box is Literacy Capital's third largest underlying investment and represented 5.8% of NAV.

'The transaction values Butternut Box at a 122% uplift to its carrying value at 30 June 2021, the estimated uplift from this transaction relative to Literacy Capital's net asset value at 30 June 2021 is approximately 7.1%, or 13p per share' the company said.

'Had Butternut Box been valued at this valuation at 30 June 2021, the company estimates that Literacy Capital's net asset value per share at that date would have been 196.1p,' it added.

Story provided by