We Write Investment Research, We Distribute it Globally, Free to Investors.

Best in Class Global Equity Research

Accuracy | Clarity | Foresight

Our investment research products and services will transform your relationship with investors, helping them make better informed investment decisions, allowing you to grow your business and deliver your vision, faster.

Do you feel new

investors are missing

your investment

case because of

capital markets noise?




Do you associate

navigating capital


with frustration

and risk?




Does your investor

base feel

concentrated in a

small group and

have de-facto control

over your decisions?



Do you have

time and energy

to increase your

investor reach

as much as it takes

and still focus on

excuting your vision?


Do you suspect the

lack of third-party


verification and

validation is at

a very high cost

for you?



the feeling of greater

value added

to your

business model


See how investment


reduces for you

and your investors



Enjoy the


that comes


greater potential

access to capital

Enjoy greater time

saving and focus, to

grow your Company

and execute your

vision, faster


Experience more

investors clearly

understanding your

investment story

around the world


From experience the challenges of navigating capital markets can be overwhelming and involve reputational risk.

We also know plans can change quickly for smaller and mid-cap companies and that It is frustrating to be unheard or misunderstood.

equity research

Let us guide you to maximize your probability of success and minimize your time getting there.

What we do and how are we differentiated

The misperception of corporate sponsored research


Ralph Browning, Co-founder

Oxilio Ltd (Biotech Oncology)

We needed the investment research to be independent and credible and it needed to be written in a way that was suitable for the range of investor audiences we had in mind and this is what ACF Equity Research delivered for us. Investment Research Investment Research Investment Research Investment Research Investment Research.

Bio: Ralph Browning is Co-founder & Director of Oxilio, a pioneering pharmaceutical company. He has a background in portfolio management, C-Suite, Chairman and NED roles including listed companies Kemin (AIM:KEM), GMA (AIM:GMA) and Orosur (TSX:OMI, AIM:OMI).

Chris Fogg, IR Manager

Perpetua Resources

ACF’s deep dive in the Perpetua initiation note and the depth on the gold fundamentals and the supply and demand fundamentals in the antimony market, is invaluable.




Bio:Chris Fogg is IR Manager of Perpetua Resources (Nasdaq/TSX:PPTA) Prior he was IR Manager, Treasury Manager, Chief of Staff (Finance) and Financial Analyst at Newmont Mining (NYSE:NEM). He has an M.S. in Mineral and Energy Economics from Colorado School of Mines.

Investment research is a strategic engagement for a company, it is not just an event or tactical action, it is a process. ACF Equity Research thinks of research in the same way, which contributes to setting its products and services apart from others. Investment Research Investment Research Investment Research InvestmentResearch

Bio: Louis Coetzee is CEO of dual listed Kibo Energy (AIM:KIBO). His experience includes VP, Business Development with TSX listed Great Basin Gold, Chairman and CEO of ASX listed East Africa Resources, Executive Chairman at Katoro Gold PLC (AIM: KAT) and Non-Executive Chairman of MAST Energy (AIM:MAST).

For me it was getting the credibility of our project across, that’s a concern of mine when I’m interacting with an analyst and talking to research houses. ACF Equity Research showed me they quickly assimilated my story and how it could be understood and accepted by markets and investors.


Bio: George Bennett is CEO of Rainbow Rare Earths (RBW.L) listed on the LSE Main Market. He was an investment banker and broker for 16 years with HSBC and as a partner at top ranked South Africanbroking firms, Simpson McKie and Fergusson Bros.


ACF Finalist in the ESG Investing Awards 2023
acf esg 2024 award

Key Statistics

Years in business


Core Team Experience Years


Most money raised by a single client in 12m

US$ 25m

Least raise dilution by client vs. previous close price


Best client MCAP appreciation


Extent of client operations by # of countries


Companies We Worked With Recently (Examples)

Perpetua Resources
Coeptis Therapeutics
the reputation exchange

Institutions Using Our Research Recently (Examples)

How To Work With Us Easily

Schedule a meeting and tell us what you want to achieve

With us, identify the service package for your goals

We forecast a fair value and tell a clear story to new investors

Our Commitment To Clients

We’ll deliver our leading story telling skills

We’ll use our tried and tested process to save your time

We’ll deliver our expertise and independent counsel

At ACF Equity Research we know that as a leader you want to transform your relationship with markets and investors so you can transform your business.

To achieve this as part of your strategy, you need highly effective investment research and a process that improves investor reach and adds operational value to your company. The challenge is navigating capital markets, which can make you feel frustrated and is risky.

We think that capital markets should work for you so that you do not have to choose constantly between preserving capital and investing capital.

We understand from experience that the challenges of navigating capital markets can be frustrating and reputationally risky. We also know plans can change very quickly for smaller and mid-cap companies, which is why we have successfully guided companies to generating capital (hundreds of millions of US dollars of value over the last three years alone).

This is how you move forward: Schedule a meeting with ACF Equity Research to tell us what you want to achieve. Together we’ll identify the best value generating service package for your goals.

Then we’ll establish a fair value, verification, validation and a compelling story for your company. After which, we strategically and consistently communicate it to a growing audience of investors.

So, call our Sales & Strategy Team to diarize a video call or meeting.

Get in contact so you can put an end to the frustration and reputational risk of trying to navigate capital markets and improve your investor reach.

Then, you can  enjoy recognition for your effectiveness, and focus on growing your business and executing your company’s vision.

Preferred Research Provider to OTC Markets (US)

Preferred Research Provider to Aquis Exchange (UK)

Preferred Research Provider to GSX (EU)

Improving global capital markets for everyone is our team’s mission.

Smaller and mid-size companies are the largest global generators of employment. They are the heart of the global economy. By transforming the effective use of global capital markets for small and mid-size companies everyone benefits. Jobs are created, which lifts people out of poverty and in turn provides education opportunities.

We believe education and employment leads to equality, which improves and saves lives.

We transform your effective use of capital markets. We offer a strategic approach to best in class equity research as part of our drive to transform your effective use of capital markets. We use detailed tactical execution to achieve results.

Our starting points are best in class global equity research; excellent targeted global distribution to institutional and retail investors and improved liquidity. ACF Equity Research was founded to improve capital markets for all.

We address the capital market needs of global listed micro-cap, small-cap (AiM), mid-cap and large-cap equity and private market segments.

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top 5 investment research tips

Expanding your investor base is hard work. We know that stress and risk is involved. Here we share 5 uses of investment research by our clients to expand investor reach and add major institutions.

Christopher Nicholson, Managing Director, ACF Equity Research

Christopher Nicholson

Managing Director/Head of Research

I am a financial analyst, entrepreneur, professionally qualified equestrian and amateur eventer. Amongst others, I trained as a financial analyst at Global US based fund manager Legg Mason Investors and have been head of Technology and Media Equity Research at Bryan Garnier, a pan-European investment bank and brokerage.

I founded ORACA Independent Equity Research a ground breaking highly independent thinking large-cap secondary comm business and ACF Equity Research, a very high-quality independent issuer-pays small and mid-cap research business. I opened our first corporate finance business (Destrier Partners) and am approaching the launch of our first non-financial services business. In my view, I am only able to do these things because of the quality of the team I work with at ACF. For 11 years I broadcasted as an expert guest and wrote regularly in the leading pan-European and international media including Bloomberg Television, BBC Radio 4 and the Financial Times.

I studied Biochemistry at Kings followed by Economics at LSE and can conduct business in English and French, I speak German and have basic knowledge of Spanish and Italian. My free time, which I make sure I carve out, is in part each day spent on my passion – riding, competing with and caring for my horse(s).

 Mike Wort,Non-Executive Chairman, ACF Equity Research

Mike Wort

Non-Executive Chairman

I have managed over 20 IPOs in the US, UK and Europe from small to large cap, I am proud to be ACF Equity Research’s Non-Executive Chairman.

I am also Executive Chairman of Texadon Oil Plc focussed on oil & gas production in the Texas Gulf Basin and is a Non-Executive Director of UK AiM listed Diaceutics, a diagnostics commercialisation business. I am a life sciences communications expert and have a background in large and mega cap pharmaceuticals.

During my more  thann  20 IPOs and secondary raisings I have brought in well in excess of £600m.

In addition, I have co-founded a number of life science start-up companies in Europe and the USA.

I am a life science communications expert and former life sciences CEO (large to start-up). He graduated in microbiology and lectured to science undergraduates in both the UK and Nigeria. He joined the pharmaceutical industry, working in a number of senior sales, marketing and clinical roles for Glaxo, SmithKline and Wellcome in the UK and overseas.

Appointed IR Manager for Wellcome, I helped organise its global roadshow for a £2.4bn secondary offering.

I have consulted on and conducted M&A and DD in the life science sector and developed disaster recovery programmes for SME companies.

I worked with Deutsche Bank to privatise the Bulgarian pharmaceutical industry. As the CEO of Balkanpharma, I led the consolidation of the three key assets into one cohesive unit. Balkanpharma has, through a series of M&A activities, become a significant part of NYSE listed Allergan.

Formerly MD at De Facto Communications, Bell Pottinger’s healthcare offering, I recently retired from Walbrook, the UK’s most successful SME PR/IR agency.


Amalia Barnoschi, Head of Operations, ACF Equity Research

Amalia Barnoschi

Head of Operations

Joining ACF at its founding I started in financial services in 2007 on the sell-side with ORACA, a large-cap independent equity research business that changed the industry. Before financial services I was a highly successful and rapidly promoted young manager in manufacturing and have worked closely at board level for over 15 years with SMEs in the City and in other financial markets.

I co-run ACF with our MD, as Head of Operations, responsible for driving profitability and developing and designing processes and managing projects for ACF and for client partners to allow our portfolio of businesses to grow. I am bilingual English/Romanian, read Italian and am working towards my accountancy ACCA qualification with AAT.

I love to relax by making time for my favourite out-of-hours activity – photography – taking my first formal nature course in May 2018. I have a keen understanding and interest in horses, though not a rider, this is combined with a life-long love of polo.

Anne Castagnede, Head of Sales & Strategy, ACF Equity Research

Anne Castagnede

Head of Sales & Strategy

I am a sales professional with a top-tier luxury goods background. In the past 5 years I managed flagship boutiques as well as working for some of the great Haute Couture houses including Chanel and Jimmy Choo, where I established a reputation as a top performer by developing, maintaining and offering information and guidance to new and existing clients.

I have researched, recommended and implemented service opportunities as well as improvements. In the early days of my career I trained with Air France and later with Chanel. On my journey I acquired management skills from back office through to front office and have a high degree of practical IT literacy.

I know from personal experience that passion leads the way to perfection and my will to learn matched with my sales ability will result in clients being in very capable hands. My bilingual languages are French and English and I speak Spanish. Off-duty my passions are languages and art.

Renas Sidahmed, Sales & Strategy / Staff Analyst, ACF Equity Research

Renas Sidahmed

Head of ESG / Staff Analyst

I am a macro-economic and financial analyst, linguist, mathematician, professional dancer and chef. I worked for four years with the IMF, two and half years with the International Finance Corporation (IFC) and eight months with the World Bank in Washington DC.

I also wrote award winning research notes and met with senior politicians with varied global and local interests in both wealthy and less developed economies. My sector expertise includes natural resources (particularly oil & gas) healthcare, manufacturing, infrastructure and investment portfolio management.

At ACF, as part of my staff analyst role, I am also Head of ESG / Sustainability and its products and services.

Before joining ACF Equity Research, I worked with Japan’s second largest brokerage, Mitsubishi Bank, in the London office. I speak six languages including English (native), Italian, French and Arabic and obtained an MBA in Rome and a Mathematics degree from a sister Ivy League – Smith College. I joined ACF because of its entrepreneurial, female friendly City culture, overarching global values and excellent growth prospects.

Anthony Kimber

Anthony Kimber

Senior Analyst ESG / Sustainability

I have considerable experience in the wealth management and private banking industries. I am co-author of the Platforum UK Wealth Management Market Overview report, and previously was Research Director at PAM Insight, a specialist publisher for the wealth management industry. I engage in research and analysis both qualitative and quantitative and am an experienced project and business development manager. I have been commissioned by UHNWI's, companies and organisations for various bespoke projects.

I also contribute to major news and media organisations, compiling and analysing data and research for the Daily Telegraph and Evening Standard on national government and environmental issues. Prior, I contributed to the Guardian, the Spectator, BBC news and investigative programming, the Sunday Times, and the Sunday Times Rich List.

My interest in ESG and sustainability is focused on raising awareness and achieving practical and workable solutions to the climate crisis we are facing. I enjoy spending my free time with family and friends, watching cricket, theatre and film.

Anda Maria Onu, Sales & Strategy, ACF Equity Research

Anda Maria Onu

Sales & Strategy

I have strong analytical, planning and execution skills, I love working as part of a team both inside ACF and externally with our clients and prospective clients.

I am used to working with and within senior leadership teams and understand the needs of small and medium sized companies through my current and previous professional experience, I graduated in life sciences with a specialisation in Ecology and Environmental Protection in Romania in 2007 and for my first job I worked in a laboratory carrying out chemical analysis of industrial waste-water.

I am passionate about the environment and work as a volunteer for the Sussex Wildlife Trust doing conservation work at the Old Lodge nature reserve. In my spare time I am a school governor and have been a juror at the Royal Court of Justice. My hobbies are dance, horses, swimming, opera and theatre.

Zak Mir, Technical Analyst, ACF Equity Research

Zak Mir

Technical Analyst

Zak Mir has 30 years financial markets experience and understands credible influencing across digital channels in order to drive stock liquidity. He is an accomplished author.

I am part of ACF’s advisory and execution team helping growth companies (nano, micro, small and mid-cap) maximise their profiles to achieve the optimal investment message.

Amongst others I have worked for Man Group companies, Berkeley Futures and Sucden. I have been a technical analyst, derivatives broker and Chief Market Strategist for a number of brokers in the retail space developing and optimising client trading strategies. I ran the well-attended annual Master Investor conferences and am a keynote speaker at the UK investor show. I also host the CityAM Podcast.

Analytical communications is part of my forte – I have variously been a markets columnist, editor and commentator for influential retail financial information outlets, amongst others – Investors Chronical, Yahoo! Finance, Shares Magazine, international leading long-form periodical The Spectator, CNBC and Bloomberg TV.

Away from the markets, I am a song writer and musician and have a long and patient interest in politics – areas that continue to be potential additional professional careers.
I was attracted to ACF because of the effectiveness of its high quality research and its forwarding thinking culture.

Richard Calvert, Director, Distribution & Service, ACF Equity Research

Richard Calvert

Director, Distribution & Service

I’m a Modern Marketing Strategist with a strong CXM, digital transformation and innovation background working with global blue chip clients, modern creative and media agencies and start-ups.

I put people, data, technology and brand at the heart of everything I do – always delivering highly creative and effective integrated solutions with engaged, excited teams. I believe in taking everyone from the Account Exec to the C-suite client with me on the journey.

I work with Global clients as easily as entrepreneurial start-ups across a broad range of categories from Automotive to FMCG, Financial Services and Technology. My recent focus has been on Digital integration; Relationship Marketing; Content Planning and Brand evolution.

Specialties: Strategic Planning, CXM, Digital and Business Transformation, Programmatic Marketing, Proposition Development, Content Planning, User Experience Development and Design, Mobile, Consumer Insight Development, Brand Planning and Development, Information Architecture and Design, Business Development, Digital Channel Strategy Development, Brand Development, CRM Strategy and Delivery, Business Development

Vicky Ryce, Director, Research Distribution, ACF Equity Research

Vicky Ryce

Director, Research Distribution

I am a digital communications and distribution specialist and strategist used to board level decision making. I started my career as part of the ground-breaking young cadre that for a short exciting time formed the original Text 100, and whose members have gone on to lead and influence thought in digital communications.

During my career I have worked with world leading agency Publicis and counselled the C-suite of some of the world’s biggest public companies, including Philips, Xerox and Microsoft, on how to improve their communications reach and then helping them execute. I also work with smaller and mid-sized private and public companies on the FTSE 250 and below. I am as comfortable dealing with retail reach, as with corporate and institutional capital markets distribution strategies.

I am an equestrian, proven entrepreneur and charitable volunteer and when I can cut out the time, I help young adults via the Princes Trust. I am an English and History graduate with an MA in Media and Culture. ACF Equity Research has a determined problem solving, enlightened forward-thinking capital markets culture and a global values set.

Adrian Chiappe, Editor, ACF Equity Research

Adrian Chiappe


Adrian has over 20 years investment research writing, editing and supervisory analysis experience for leading investment banks including Barclays Capital, UBS, BNP Paribas, Jefferies, S&P, Danske Bank, ABN Amro, Lombard Odier and Bear Stearns.

He has a deep understanding of his subject. Adrian has executed editing and supervisory analysis for investment banks, brokerages and fund managers. He has up-to-date knowledge of the operational and regulatory framework for international institutional equities markets. Adrian is a materials scientist and has languages