Calendar An icon of a desk calendar. Cancel An icon of a circle with a diagonal line across. Caret An icon of a block arrow pointing to the right. Email An icon of a paper envelope. Facebook An icon of the Facebook "f" mark. Google An icon of the Google "G" mark. Linked In An icon of the Linked In "in" mark. Logout An icon representing logout. Profile An icon that resembles human head and shoulders. Telephone An icon of a traditional telephone receiver. Tick An icon of a tick mark. Is Public An icon of a human eye and eyelashes. Is Not Public An icon of a human eye and eyelashes with a diagonal line through it. Pause Icon A two-lined pause icon for stopping interactions. Quote Mark A opening quote mark. Quote Mark A closing quote mark. Arrow An icon of an arrow. Folder An icon of a paper folder. Breaking An icon of an exclamation mark on a circular background. Camera An icon of a digital camera. Caret An icon of a caret arrow. Clock An icon of a clock face. Close An icon of the an X shape. Close Icon An icon used to represent where to interact to collapse or dismiss a component Comment An icon of a speech bubble. Comments An icon of a speech bubble, denoting user comments. Comments An icon of a speech bubble, denoting user comments. Ellipsis An icon of 3 horizontal dots. Envelope An icon of a paper envelope. Facebook An icon of a facebook f logo. Camera An icon of a digital camera. Home An icon of a house. Instagram An icon of the Instagram logo. LinkedIn An icon of the LinkedIn logo. Magnifying Glass An icon of a magnifying glass. Search Icon A magnifying glass icon that is used to represent the function of searching. Menu An icon of 3 horizontal lines. Hamburger Menu Icon An icon used to represent a collapsed menu. Next An icon of an arrow pointing to the right. Notice An explanation mark centred inside a circle. Previous An icon of an arrow pointing to the left. Rating An icon of a star. Tag An icon of a tag. Twitter An icon of the Twitter logo. Video Camera An icon of a video camera shape. Speech Bubble Icon A icon displaying a speech bubble WhatsApp An icon of the WhatsApp logo. Information An icon of an information logo. Plus A mathematical 'plus' symbol. Duration An icon indicating Time. Success Tick An icon of a green tick. Success Tick Timeout An icon of a greyed out success tick. Loading Spinner An icon of a loading spinner. Facebook Messenger An icon of the facebook messenger app logo. Facebook An icon of a facebook f logo. Facebook Messenger An icon of the Twitter app logo. LinkedIn An icon of the LinkedIn logo. WhatsApp Messenger An icon of the Whatsapp messenger app logo. Email An icon of an mail envelope. Copy link A decentered black square over a white square.

Archangels rack up record year for investments

David Ovens, Chief Operating Officer; Niki McKenzie, Investment Director; Sarah Hardy, Chief Investment Officer, Archangels.
David Ovens, Chief Operating Officer; Niki McKenzie, Investment Director; Sarah Hardy, Chief Investment Officer, Archangels.

A major Scotttish angel investment syndicate has reported a record year.

Archangels, which is believed to be the oldest syndicate of its type in the world, oversaw investments worth £22.4 million during 2018.

The figure is the highest since the network was established in 1992 and made its first ever investment in Optos, a medical imaging technologies group based in Fife.

The 2018 investments comprised of £10.9m of members’ cash and co-investment of £9.4m through partners including NVM Private Equity, Maven Capital Partners, Par Equity and Julz Co.

However, the Scottish Investment Bank, part of the Scottish Enterprise network, was the largest co-investor with a £6m outlay.

During 2018, Archangels’ focused their investments on the tech and life sciences sectors, taking £2m stakes in Scottish growth-stage companies Bio-Images Drug Delivery and Speech Graphics.

2018 also saw Archangels return significant funds to members as it exited from Oregon Timber Frame and ZoneFox Limited.

However, the year also members take a hit as a result of the failure of two invested companies.

“Archangels led another record-breaking amount of investment in Scottish early stage companies in 2018,” the syndicate’s chief operating officer David Ovens said.

“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.”