Acceleris and KPMG to form joint venture aimed at fast growing technology sector

Wigan-based venture capital advisory specialist, Acceleris, is to form a joint venture with KPMG, with the big four accountancy firm taking a 50% stake in the company.

The move is to help increase KPMG’s involvement in the burgeoning market for technology company fundraisings.

It will provide access for entrepreneurs to an active pool of investors to support investments of £1m to £30m+.

The new venture will be known as KPMG Acceleris, with Jonathan Boyers, a KPMG UK partner and head of its corporate finance division, and Warren Middleton, senior partner of KPMG’s Manchester office, joining the board of the JV, which will be led by Acceleris founder Norman Molyneux, Simon Thorn and Patrick Molyneux.

Initially it will operate from Manchester and London.

KPMG Acceleris will focus on fundraising and advisory services in the technology and life sciences sectors, including entrepreneurs involved in the environmental, social and governance (ESG) sphere.

Jon Holt, KPMG UK chief executive, said: “Fast-growing companies are the heartbeat of the UK economy, but access to funding remains a big barrier for entrepreneurs trying to grow their businesses.

“By partnering with Acceleris we will enable companies to unlock the finance they need, and help them navigate what remains a volatile operating environment.

“This joint venture also marks a significant milestone for our firm and is the first in a series of innovative investments we’re making to transform our business and develop new services to help our clients grow.”

Norman Molyneux, said: “For any entrepreneur, selecting the right investor is absolutely critical. If early stage businesses bring in investors who aren’t fully aligned with their plans, they’re unlikely to deliver on their original objectives effectively.

“Making sure both parties are in sync makes a huge difference in not only the outcome, but also the value that can be realised.

“As a business we’ve been operating for over 21 years, and we’ve recognised that the industry could benefit immensely from improved processes and diligence earlier in the cycle, as well as better alignment between investors and entrepreneurs.

“Venture fundraising is difficult to navigate for innovative technology-based companies. Our mission is to significantly improve this process so founders and their businesses can thrive and make a positive impact on the economy.”

He added: “KPMG also recognise this and that’s what makes our joint venture so exciting and game changing. Together we’re well positioned to better support entrepreneurs and investors, providing them with effective tools and processes which align to their plans, as well as monitoring and governance systems to help them navigate the different forms of capital as they develop.”

Acceleris was founded in 2000 and has introduced more than £150m to innovative impact technologies across health & wellbeing, software and renewable technologies.

Its track record includes two IPOs, several trade sales and an informal network of leading high net worth investors. Its focus is to provide support throughout a company’s lifecycle and ensure only quality is introduced to its investors.

Jonathan Boyers, of KPMG, said: “The number one issue for most start-ups, particularly in the tech and life sciences sectors, is the need to raise funding.

“The UK’s VC market has seen a rapid increase in the number of early stage businesses successfully raising money to grow in recent years, along with interest from investors looking to deploy capital in quality companies.

“However, fundraising is still a challenge, and the need for stronger infrastructure to better support those looking to take their businesses to the next level remains.”

He added: “While there are various brokers, introducers and incubators offering some support to early stage businesses, there aren’t many who are set up to advise them through the fundraising journey to maturity.

“Through our investment we’re combining the experience of the Acceleris team with the skills and resource of the KPMG network, so that we can help businesses grow from early stage fundraising right through the lifecycle to exit, and beyond.”