EDINBURGH-based business angel investment syndicate, Archangels – believed to be the oldest in the world – has recorded another active year of support for the Scottish tech and life sciences sectors, leading investment of £14.8m in Scottish start-up and early-stage companies in 2019.
The syndicate directly invested £8.2m across the year (2018: £10.9m) and was the lead investor on a total of 10 funding rounds with total investment, including co-investors’ contributions, of £14.8m (2018: £22.4m). Scottish Investment Bank (SIB), the investment arm of Scottish Enterprise, was the largest single co-investor in 2019 at £3.9m, with co-investment from other organisations including NVM, Par Equity and Tricap.
