Don't invest unless you're prepared to lose all the money you invest. This is a high-risk investment and you are unlikely to be protected if something goes wrong. Take 2 mins to learn more.
We are thrilled to announce the relaunch of our flagship fund, Access EIS. This updated version, which we're fondly calling Access 2.0, is the culmination of extensive research and analysis of the startup market, designed to provide our investors with an even more robust and data-driven investment strategy.
For a deep dive into the research and the changes we've made, you can watch the full recording of our recent webinar hosted by our CEO, Graham Schwikkard.
For those short on time, here are the key highlights.
Our commitment to a data-driven approach has led us to conduct our most comprehensive research study to date. By analysing data from Companies House filings, we've examined over 5,000 venture-funded startups to better understand the dynamics of startup investing.
A key finding from our research reaffirms the power-law distribution in startup returns, where a small number of companies generate the vast majority of the profits. This underscores the importance of a diversified portfolio to mitigate risk and increase the chances of capturing those high-growth outliers.
It's no secret that the startup market is currently facing a challenging period, with investment levels down from the peaks of 2021 and 2022. However, this "new normal" also presents opportunities. Valuations are more reasonable, and only the most resilient and promising startups are securing funding.
Despite the downturn, the UK's tech sector remains a European powerhouse, consistently outperforming its neighbours in venture capital investment and the creation of high-growth companies. We believe that investing through the cycle, especially during market ebbs, can lead to significant long-term returns.
Our latest research has directly informed the new design of our Access EIS Fund. Here are the key changes we’ve implemented to enhance your investment journey:
A more focused portfolio: We are reducing the number of companies in each fund from 50 to 30. Our updated Monte Carlo simulations are now even more in depth, from an even larger dataset. They also factor in “access probability” - the likelihood of accessing the very best investment opportunities available. In turn, we’ve moved to a portfolio size of 30 companies, seeking to strike the optimal balance between mitigating risk and capturing outsized returns, as well as timely investing.
Enhanced angel selection: Our strategy continues to centre on co-investing with elite "super angels." We have refined our algorithms to better identify the top-performing angel investors, those who have historically demonstrated access to the most promising deals, and a track record of successful investments. This focus on access to high-quality deal flow is, we believe, even more critical than deal selection alone in a power-law market, even though past performance is not a guarantee of future results.
Faster deployment: With a more concentrated portfolio of 30 companies, we are better able to seek to deploy funds within 12 months of a fund's closing date. We are also transitioning to a rolling close model, with three closes per year, providing you with clearer deadlines and more predictable deployment schedules.
Favourable fees: We are pleased to announce that our funds are now VAT-exempt. The fee structure remains highly competitive, with a 2% setup fee (1% for existing investors) and a market-leading 10% performance fee (carry).
The relaunched Access EIS Fund offers a compelling proposition for investors looking to start investing in the UK's dynamic startup ecosystem, and access the broad range of tax reliefs offered by the Enterprise Investment Scheme (EIS).
When tax relief is factored into the equation, 30% upfront income tax relief can turn a 2.1x gross return into a 3x net return for the investor. When combined with loss relief and tax-free capital gains, EIS makes for a highly efficient investment vehicle, especially within a diversified portfolio. Tax reliefs are subject to status and change.
By combining a data-driven approach to diversification, the advantages of co-investing with elite angels, and the significant benefits of EIS tax relief, the new Access EIS fund is structured to help you navigate the current market and achieve long-term investment goals.
To get started, visit our website to register and explore the fund in more detail. The deadline for the next close is 19 September, 2025.
