Published by Insider Media
KPMG UK SIGNS AGREEMENT WITH ACCELERIS FOR VC FUNDRAISINGAND ADVISORY BUSINESS
Professional services business KPMG UK has signed an agreement to form a new partnership with venture capital (VC) advisory firm Acceleris. The pair will provide fundraising and advisory services to entrepreneurs in the UK and internationally, with a particular focus on businesses in technology, life sciences and ESG-related sectors.
Following completion, KPMG UK will formally acquire 50 per cent of the share capital of Wigan-based Acceleris, and Jonathan Boyers, partner and head of corporate finance at KPMG UK, will join the board of directors. This will be alongside Warren Middleton, Manchester office senior partner and Emerging Giants Programme Lead at KPMG UK.
Through the joint venture, called KPMG Acceleris, the firms will implement a range of fundraising and advisory services to entrepreneurs in the UK and internationally.
It will have a particular focus on businesses in technology, life sciences and ESG-related sectors.
The joint venture is subject to the consent of the Financial Conduct Authority and the transaction is expected to complete later this year.
Jonathan Boyers, a former Insider Dealmaker of the Year, said: "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."
Jon Holt, chief executive of KPMG UK, 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."
KPMG Acceleris will be led by Norman Molyneux, Simon Thorn and Patrick Molyneux, initially operating from Manchester and London, supported by a team of experts across the UK. The joint venture will also benefit from access to KPMG's global network of advisors.
Acceleris founder, Norman Molyneux, added: "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.
"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."