Now Treasury holds stake in sex party firm run by Kate’s friend
... after pandemic support loan turns into shares for taxpayers
ThE taxpayer has taken a stake in a sex party planning business set up by one of Kate Middleton’s friends.
The Treasury became part owners of Killing Kittens after the business used a support scheme to survive coronavirus lockdowns.
Killing Kittens describes itself as ‘sexually liberating curious singles and couples’.
It was set up in 2005 by Emma Sayle, a school friend of the Duchess of Cambridge.
The 44-year-old launched Killing Kittens to offer sex parties where women could feel in control – as at the parties only women can approach men.
It has since branched into a ‘sex-positive social network’ including a dating app and a platform for female entrepreneurs to share business experiences and ideas.
Miss Sayle became friends with Kate when they were both pupils at Downe house School in Berkshire.
The two remained friends, and in 2007 were both members of a dragon boat rowing team called The Sisterhood.
It caused a stir for the duchess as by that time Miss Sayle had already launched the business. Killing Kittens took out a £170,000 loan in 2020 under Chancellor Rishi Sunak’s Future Fund, as it was forced to call off its sex parties and turn instead to ‘Zoom orgies’ while coronavirus restrictions were in place.
But the loan proved controversial and Labour MP and former shadow secretary of state for women and equalities Sarah Champion asked Mr Sunak to stop the payment being made.
The scheme was designed to
‘Already made money on it’
prevent start-ups from collapsing during the pandemic.
The £500million fund gave companies access to loans of between £125,000 and £5million. But a clause meant loans were converted into shares in the company the next time it raises money. The clause means the Government has stakes in hundreds of firms.
Others include the Bolton Wanderers Football Club and the Black Sheep Coffee chain.
And after a recent fundraising round valued Killing Kittens at £15million, the Government
owns a 1.5 per cent stake in the company.
The stake is worth £225,000 at the business’s current valuation, meaning that the Government’s investment has grown by a third (32.3 per cent).
‘The Government has already made money on the investment,’ Miss Sayle told the Financial Times.
Killing Kittens has said the recent fundraising will help it transition into a ‘global sex technology’ company as it developed a new chat and dating
app as well as an adult social media network.
Miss Sayle has said previously: ‘The money isn’t going to be financing sex parties, it’s an ongoing pivot into digital sex tech which hopefully will put Killing Kittens in the same league as massive online dating businesses like Match.com.’
The company has 180,000 members around the world and annual sales are thought to be around £1.4million.
Killing Kittens was asked to comment.