L-R: David Ovens, Archangels; Sarah Lynagh, Fios Genomics; Ben Panter, Blackford Analysis; Niki McKenzie, Archangels; Gregor Hofer, Speech Graphics; Sarah Hardy, Archangels.
Archangels, the Edinburgh-based business angel investment syndicate, believed to be the oldest in the world, led £22.4m of investment in Scottish tech and life sciences businesses in 2018.
The highly active syndicate invested £10.9m of its own members’ cash in 10 investment rounds across the year, with co-investment of £9.4m from investment partners including Scottish Enterprise’s investment arm, Scottish Investment Bank, which, at £6.0m, was the largest co-investor. Other co-investment partners included NVM Private Equity, Maven Capital Partners, Par Equity and US-based Julz Co.
Archangels’ 2018 investment activity included leading first-time investments in two Scottish businesses:
2018 also saw two exits which returned significant funds to Archangels members:
During the year, Archangels was also recognised as lead investment syndicate of the year by the UK Business Angels Association and investor of the year at the inaugural Scottish Tech Startup Awards.
David Ovens, chief operating officer at Archangels, said: “Archangels led another record-breaking amount of investment in Scottish early stage companies in 2018.
“In spite of the uncertainties around Brexit and the global economy, the tech and life sciences ecosystem in Scotland is buoyant. There remains a steady stream of innovative and ground-breaking ideas, satisfying the strong appetite of our members for investment opportunities that underpin Scotland’s position as an entrepreneurial hotspot.”
If you’re a small or medium sized business based in Scotland, you can now access a newly launched loan capital fund which is part of the Scottish Growth Scheme.
The £12m fund, part funded by the EU, helps accelerate the growth of businesses in Scotland, complementing other private and public sector forms of funding.
For more info and submit your interest visit www.begroupfinance.scot
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