ACF Investors

ACF Investors manages co-investment funds that back early-stage UK businesses across a range of sectors. Its two funds, the Angel CoFund and the Delta Fund, both invest alongside experienced angel syndicates rather than leading rounds independently, with capital deployed alongside angel investors in early-stage companies. The firm is led by Managing Partner Tim Mills and operates from offices in Sheffield and London.

The investment model is built on alignment with lead angel investors. ACF Investors conducts shared due diligence with the angels in a syndicate and agrees investment terms jointly with them, investing through the same or aligned share classes. This structure means deal origination, diligence and pricing sit with the angel syndicate, while the fund provides additional capital to support businesses as they scale. Sector scope is deliberately broad, with an investment team that brings sector-specific knowledge to assess opportunities across the range.

Post-investment, the firm describes a patient, long-term approach to capital, providing ongoing support and hands-on involvement alongside the angel investors. The stated objective is to help high-potential companies reach their full potential and generate growth, with fund capital intended to complement - not replace - the expertise and networks that experienced angels bring to early-stage UK companies.