KPMG UK has announced that it has signed an agreement to form a joint venture with venture capital (VC) advisory firm Acceleris.
Through the joint venture, called KPMG Acceleris, the firms will deliver a “range” of 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.
According to KPMG, it 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 is subject to the consent of the Financial Conduct Authority (FCA) and the transaction is expected to complete later this year.
Following completion, KPMG UK will formally acquire 50% of the share capital of Acceleris, and Jonathan Boyers, partner and head of corporate finance at KPMG UK will join the board of directors.
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.
“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, Acceleris founder, added: “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.”
He added: “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.”