£100M co-investment fund, est. 2011 (rebranded ACF Investors). Invested £40M+ alongside £200M+ angel capital into 80+ cos; 5-person team. Portfolio incl. Ebury (fintech/Santander), Limejump (cleantech/Shell), City Pantry (foodtech/Just Eat), Howbout, BMLL, Neurovalens. Post-inv: quarterly monitoring, supportive hands-off approach. ~2-week decision turnaround vs months for traditional VCs.
Investment Focus
Investment Thesis
Co-invests alongside 3+ angel syndicates (min. £40k lead commitment) in seed/early-stage UK businesses. Sector-agnostic but focuses fintech, cleantech, medtech, consumer. Portfolio avg. £1-5m valuation. Avoids fee-contingent intermediaries; requires lead angel sector expertise & meaningful personal investment. Leverage: £1 ACF→£5 from angels. Follows dilution caps: max 49% round, 30% equity.
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