AccelNorth Partners in Review (2023) — an exhilarating journey for our clients and us!
Rajat Chopra. December 2023. On behalf of AccelNorth Partners.
2023 has been a landmark year for us — as we approach the year-end, we wanted to reflect on our journey, and celebrate with you our key achievements and successes for the year. Our global platform witnessed: (a) exponential growth in client base (~50% growth vs 2022), new additions to the team, and expansion of geographic footprint. We have now worked with: (a) 25 GPs (across strategy, product development, IR, fundraising project management, LP mapping, communications and ESG), (b) one LP (across strategy, asset allocation, sourcing and due diligence), and (c) 9 companies (across strategy, financials and IR support).
Despite the private markets being in a slowdown in terms of fundraising and having mixed investment activity (especially in the first half of 2023), our clients (GPs) have continued to witness significant successes, many of whom completed their first closes at higher numbers than their entire prior fund sizes this year. The success of our clients is attributable to the sheer commitment and focus showed by the management teams of our GPs. We believe that ANP also had a role to play in their successes — as we continued to provide hands-on support and advisory to the GPs across a variety of mandates (refer to the below infographic for details).
2023 has been equally special because we added out first LP client — we are assisting a very large single family-backed LP in providing customised support in building and institutionalising its private markets investment programme. We have provided hands-on support to the team in strategy setting, asset allocation, cashflow modelling, sourcing and due diligence of a number of PE and VC opportunities.
As we continued to grow business, we have kept our focus on adding high-quality talent. In the summer, we welcomed one intern each to our London and India offices, respectively (ex-Campbell Lutyens secondaries, ex-PwC Transactions Services and ESG background). In addition, we expanded our India team, with the addition of two full-time Executives (ex-Goldman Sachs, ex-PwC Deals, and studying towards their CFA and CIMA qualifications). We also launched our own ESOP program to reward those members of staff who are adding substantial value to the growth of our platform. Our team of ex-LPs, GPs, bankers and consultants continue to bring significant private markets experience and have been successful at creating substantial value-add for our clients.
Being grateful for what we have achieved this year, and as with every year since inception, we have chosen our social charity for the year and supported chooselove.org. Choose Love provides displaced people with everything from lifesaving search and rescue boats to food and legal advice. In prior years, we have supported charities ranging from women’s education in Africa to eye hospitals and old age homes in India, to progressive justice-related charities in the UK.
2023 was a year of a tough start but with increasing optimism for the entire private markets industry (and society at large) — given the macro-economic conditions and geo-political upheavals. At ANP, we very much look forward to what 2024 has in store for all of us — and hope/wish a lot of growth and stability for all of you.
Enjoy the festive season and look forward to connecting with you in 2024!
AccelNorth Partners is an advisor specialising in the private markets industry. Whether you’re a GP or an LP, reach out to us to discuss your strategic, operational, diligence, fundraising and IR challenges. Email us at info@accelnorthpartners.com. And follow us on Medium.
