ACF Investors
ACF Investors (Akero Capital Partners LLP) is a UK-based venture capital fund manager operating a £100M+ AUM platform that co-invests alongside sector-focused angel syndicates into early-stage UK SMEs across FinTech, MedTech, CleanTech, and other sectors.
- Company typePrivate
- Founded2011
- HeadquartersSheffield, United Kingdom
- Headcount1–10
- GTM typeB2B
- OfferingServices
What ACF Investors does
ACF Investors is the trading name of Akero Capital Partners LLP, a UK-based venture capital fund management firm headquartered in Sheffield with a London office. Founded in 2011, ACF manages the Angel CoFund (backed by the British Business Bank) and the Delta Fund, collectively representing £100M+ in assets under management. The firm operates a distinctive co-investment model: it deploys capital alongside sector-focused angel syndicates into early-stage UK SMEs, typically participating in rounds of £200K to £1M+, and across diverse verticals including FinTech, MedTech, CleanTech, DeepTech, and digital health.
The firm's investment activity is broad-based rather than thesis-driven. Disclosed portfolio and follow-on activity spans consumer (Gousto), FinTech (Ebury, OneID), enterprise software (BMLL, NumberEight), healthcare (Veremark, Neurovalens, Oxford Medical Simulation, Orthofuse, NoBACZ), advanced materials/hardware (Silveray), and creative tools (Cavalry). Recent exits include BMLL (acquired by Nordic Capital in November 2025) and Cavalry (acquired by Canva in February 2026), with Muve previously realised via Alcuin Capital, demonstrating liquidity across multiple vintages.
ACF's business model is conventional for a UK early-stage VC: revenue is derived from management fees (typically 1.5–2.0% of AUM) on its fund vehicles plus carried interest on exits. The firm runs a lean team (1–10 disclosed personnel) led by Managing Partner Tim Mills, with Investment Directors Sina Ataherian and Matt Boreman, supported by Investment Partners including George Whitehead, Paul Fauset, and Liam Bradley. Its 2025 shortlisting by UKBAA and GP Bullhound as VC of the Year reflects an elevated public profile relative to peers of comparable AUM.
ACF Investors firmographics
Firmographics- Name
- ACF Investors
- Legal name
- Akero Capital Partners LLP
- Website
- https://www.acfinvestors.com
- Company type
- Private
- Founded year
- 2011
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- ACF Investors (Akero Capital Partners LLP) is a UK-based venture capital fund manager operating a £100M+ AUM platform that co-invests alongside sector-focused angel syndicates into early-stage UK SMEs across FinTech, MedTech, CleanTech, and other sectors.
- Ownership category
- akta.pro rank
ACF Investors industry classification
Industry- Product category
- Venture Capital Fund Management
- NAICS
- Portfolio Management and Investment Advice (523940), All Other Financial Investment Activities (52399)
- SIC
- Investment Advice (6282)
- akta.pro primary industry
- Micro-VC & Angel Funds (FSANAAAI)
Keywords
Where ACF Investors is headquartered
LocationHeadquarters
- HQ city
- Sheffield
- HQ country
- United Kingdom
- HQ region
- Europe
Offices2 records
Markets served
ACF Investors business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Others
Revenue model
- Equity Investment Returns: ACF Investors generates returns through equity investments in early-stage UK businesses. The fund participates in funding rounds alongside angel syndicates and achieves returns upon exit of portfolio companies.
Go-to-market motion1 record
Distribution channels2 records
Marketing channels4 records
ACF Investors product offering
Product offeringCore offering
ACF Investors is a £100M venture capital fund management company operating the Angel CoFund and the Delta Fund, which co-invest alongside syndicates of sector-focused angel investors in early-stage and growth-stage UK businesses. The Angel CoFund provides equity investments of £100K–£1M while the Delta Fund provides £200K–£1M for more commercially validated businesses, with both funds investing across sectors including FinTech, Medtech, CleanTech, DeepTech, Consumer and Creative, and Software and Digital Transformation.
Product overview
ACF Investors is a £100M venture capital fund management company that operates two co-investment funds - the Angel CoFund and the Delta Fund - which invest alongside syndicates of sector-focused angel investors in early-stage and growth-stage UK businesses. The Angel CoFund provides equity investments of £100K to £1M for early-stage companies, while the Delta Fund offers £200K to £1M for more commercially validated businesses. The funds invest across sectors including FinTech, Medtech, CleanTech, DeepTech, Consumer and Creative, and Software and Digital Transformation. ACF Investors does not develop or sell products itself; it is a fund manager providing investment services to entrepreneurs and angel syndicates.
Differentiator
Problem solved
Functional benefit
Products and services
- Angel CoFund Co-investment fund providing equity investments of £100K–£1M into UK-incorporated early-stage SMEs alongside syndicates of sector-focused angel investors. Requires a syndicate of at least 3 angels including a lead with sector expertise committing at least £40K. Targets rounds of £200K upwards, can provide up to 49% of round capital (typically 30%), and can participate in follow-on rounds. Remains largely passive post-investment.
- Delta Fund Fast-track co-investment fund providing equity investments of £200K–£1M for more commercially validated UK businesses. Designed to accelerate the investment process where angels have deeper sector knowledge and are making significant investments of at least £70K. Targets rounds of £500K+ and invests alongside lead angels with deep sector experience.
Quantifiable outcome
- Fund has been active since 2011 with multiple successful exits including BMLL (acquired by Nordic Capital), Cavalry (acquired by Canva), Muve (acquired by Alcuin Capital Partners)
- +1 more outcomes
Companies that use ACF Investors
Customer profileSegments2 records
Ideal customer profiles2 records
ACF Investors technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
ACF Investors partnerships and signals
Strategic signalScale indicators3 records
Recent moves6 records
Expansion highlights6 records
ACF Investors competitors and assessment
Company assessmentBroad incumbents
- Octopus Ventures: One of the UK's largest VCs investing across multiple stages and sectors. ACF partner George Whitehead was previously Venture Partner Manager at Octopus Ventures. Direct overlap in UK early-stage ecosystem but at significantly larger scale and broader sector mandate.
Direct peers
- Parkwalk Advisors: UK-based VC manager focused on university spinouts and deeptech companies, participating alongside ACF in deals such as NoBACZ Healthcare. Both funds focus on UK early-stage with similar sector breadth including deeptech and life sciences.
- Midven: Boutique early-stage UK VC based in Birmingham. ACF associate Liam Bradley previously worked as Investment Executive at Midven. Both firms target early-stage UK SMEs with regional investment focus.
- Cambridge Angels: Cambridge-based angel syndicate that has co-invested alongside ACF in deals such as Orthofuse. Functions as a sector-focused angel group that operates in the same UK early-stage ecosystem and occasionally partners with ACF.
- IQ Capital: Cambridge-based VC specializing in deeptech and AI, co-invested with ACF in Neurovalens round. Both funds invest in UK early-stage deeptech companies with similar cheque sizes.
- Frog Capital: UK growth-stage VC that co-invested with ACF in Oxford Medical Simulation's Series A. Operates in the UK early-to-growth stage tech investing space with overlapping sector focus.
- Mercia Fund Management: UK regional fund manager with focus on early-stage technology and life sciences companies across UK regions. Directly comparable to ACF's regional UK investment mandate.
- Maven Capital Partners: UK regional VC with Northern England focus and broad sector mandate. Similar investment cheque size and early-stage UK SME focus as ACF, with comparable regional investor positioning.
- Praetura Ventures: Manchester-based early-stage VC investing across UK regions with similar sector breadth to ACF. Both funds target early-stage UK SMEs with regional focus.
- Calculus Capital: UK EIS-focused growth capital investor targeting early-stage UK companies with similar cheque sizes. Comparable UK-focused investment mandate with EIS vehicle structure.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights7 records
Customer concentration
ACF Investors social profiles
Digital presenceACF Investors financial estimates
Financial estimateRevenue estimate
Valuation estimate
ACF Investors leadership team
Management profileNumber of profiles
Profiles7 records
ACF Investors funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
ACF Investors M&A and investment
M&A and investmentM&A
Investments159 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about ACF Investors
What does ACF Investors do?
ACF Investors is a £100M venture capital fund management company operating the Angel CoFund and the Delta Fund, which co-invest alongside syndicates of sector-focused angel investors in early-stage and growth-stage UK businesses. The Angel CoFund provides equity investments of £100K–£1M while the Delta Fund provides £200K–£1M for more commercially validated businesses, with both funds investing across sectors including FinTech, Medtech, CleanTech, DeepTech, Consumer and Creative, and Software and Digital Transformation.
Is ACF Investors a public or private company?
ACF Investors is a private company. It is classified as venture growth investor backed and is currently operating.
When was ACF Investors founded?
ACF Investors was founded in 2011. It employs 1 to 10 people.
Where is ACF Investors based?
ACF Investors is headquartered in Sheffield, United Kingdom, in the Europe region.
How does ACF Investors make money?
One revenue line is on record: equity Investment Returns.
Who are ACF Investors's main competitors?
Octopus Ventures is listed as a broad incumbent. Direct peers are Parkwalk Advisors, Midven, Cambridge Angels, IQ Capital, Frog Capital, Mercia Fund Management, Maven Capital Partners, Praetura Ventures and Calculus Capital.
Does ACF Investors have an API?
No public API is recorded for ACF Investors.
What industry is ACF Investors in?
ACF Investors's product category is Venture Capital Fund Management. Its primary akta.pro industry code is FSANAAAI, Micro-VC & Angel Funds. Its NAICS code is 523940 and its SIC code is 6282.