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The first quarter of 2026 has marked a period of intense capital activity across the Access EIS and wider SyndicateRoom portfolio. High-growth companies within our funds have secured over £70 million in new capital over the last six months.
These milestones are not just individual success stories; they are the output of a repeatable, data-driven methodology. By co-investing alongside the UK’s "super angels"—an elite group that consistently outperforms the market—our model identifies high-potential startups before they become the targets of major venture capital firms and institutional lenders.
For an EIS investor, a Series A raise is a crucial 'de-risking' milestone. It signifies that a company has moved beyond the initial "seed" proof-of-concept stage and has secured significant institutional backing to scale.
Our model is designed to capture these winners early, providing our investors with exposure to the UK's most promising scale-ups.
The following table highlights the most recent successful raises within our portfolio, showcasing the diversity of sectors and the calibre of lead investors currently backing our companies.
Company name | Sector | Amount raised | Lead investor | Date |
Antiverse | Biotech / AI | $9.3 million | Soulmate Ventures | 5 March 2026 |
Incard | Fintech | £10 million | Smartfin | 2 February 2026 |
Evaro | Digital health | $25 million (£18m) | AlbionVC | 27 January 2026 |
Hub Box | Logistics | £6 million | Puma Growth Partners | 24 November 2025 |
Nivoda | B2B marketplace | $60 million (Facility) | i80 Group | September 2025 |
Past results are not a reliable indicator of future success.
Led by AlbionVC, the $25 million (£18m) round for Evaro accelerates its "healthcare-as-a-service" model. Based in Norwich, Evaro provides the regulated infrastructure that allows consumer brands to embed prescription services directly into their platforms. With NHS waiting lists at record highs, Evaro is defining a new category of accessible, asynchronous care by managing everything from clinical safety to pharmacy fulfilment.
To scale its "financial operating system" for the creator economy, Incard closed a £10 million round led by Smartfin in February 2026. The platform integrates banking, spending, and revenue tracking specifically for digital entrepreneurs. This raise positions the company for rapid expansion across Europe and the US, moving it from a niche fintech tool to a dominant global player in the creator finance space.
Cardiff-based Antiverse secured $9.3 million, led by Soulmate Ventures, to advance its generative AI platform for antibody design. By using machine learning to predict antibody-antigen binding, Antiverse can tackle disease targets previously considered "undruggable." This capital allows the company to push its internal pipeline toward in vivo studies, representing a significant leap in biotech efficiency. Antiverse closed a $9.3 million round in March 2026
Part of the wider SyndicateRoom portfolio, this e-commerce logistics specialist raised £6 million in a round led by Puma Growth Partners in November 2025. Used by global brands like Gymshark and Selfridges, Hub Box software addresses the "failed delivery" crisis by enabling local pickup points at checkout. This Series A funding will drive further expansion into the US market, where the demand for flexible, sustainable delivery solutions is surging.
Nivoda, a standout from our 2020 cohort, exemplifies the capital-efficient growth machine our model seeks to identify. Since the Access EIS Fund made its initial investment, Nivoda’s share price has increased to 1,162% above the entry level.
This growth represents a more than 11x MOIC (Multiple on Invested Capital). This performance was driven by a disciplined progression through funding milestones, including an $11m series A in 2023, a $30m series B in early 2024, and culminating in the recent $60 million financing facility from i80 Group. Nivoda now provides embedded trade credit to over 10,000 retailers, further cementing its dominance in the global jewellery supply chain.
SyndicateRoom’s analysis of the UK startup market reveals that returns follow a power law distribution with an alpha (slope) of 1.8. This indicates a 'fat tail' where the top 10% of companies generate returns greater than 10x, and the top 6% account for 80% of total portfolio value.
Consequently, a diversified model is essential to capture the small fraction of companies that successfully transition from seed to high-growth series A milestones. Our data shows that a cohort of 506 UK startups achieved an average 28% CAGR between 2011 and 2018, significantly outperforming traditional VC benchmarks (19% CAGR).
As SyndicateRoom super angel Chris Mairs notes: "The 80/20 rule and the empirical power law for venture investing is eerily borne out by my own portfolio... 20% of my portfolio accounts for 82.4% of the portfolio value."
What is the average raise for a Series A?
In the UK, a series A typically ranges from £2 million to £10 million, though biotech and fintech "mega-rounds" (like Evaro’s) can be significantly higher.
How much can you raise with EIS?
A company can raise up to £5 million each year, and up to a lifetime total of £12 million (or £20 million for "knowledge-intensive" companies) through EIS and other venture capital schemes.
Is Series A funding hard?
Yes. Statistically, fewer than 20% of companies that raise a seed round successfully move to a series A. This is why our data-driven selection process focuses on following "super angels" with proven track records.
Make your next investment count
If you’re looking for your next tax efficient investment, visit the Access EIS Fund and review our data-driven co-investment approach. Investing in startups is risky, but building a large of handpicked, high potential companies increases your chances of capturing some of those startups that will go on to hit Series A and beyond to become the major players of tomorrow.
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Visit the Access EIS fund page to learn more
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