Archangels secures a £12m co-investment agreement from British Business Investments to back Scottish tech and life sciences.
The Edinburgh based syndicate secured the capital via the Regional Angels Programme.
Archangels is an Edinburgh based business angel syndicate that invests in early stage Scottish life sciences and technology companies. Operating for over thirty years, the organisation supports innovative firms with disruptive technology and global potential.
Archangels has secured a £12m co-investment agreement from British Business Investments via its Regional Angels Programme. The new capital will be deployed alongside syndicate funding to support early stage life sciences and technology companies across Scotland.
Operating for over three decades, Archangels backs innovative enterprises with protectable intellectual property and international potential. The syndicate plans to utilise the fresh funds to help portfolio companies expand and generate returns for investors and the wider Scottish economy.
From the founder
"The co-investment agreement from British Business Investments means that, in a challenging global market, Archangels will have access to significant levels of aligned co-investment capital. This additional funding will allow us to support current and future portfolio companies to grow their businesses and provide returns for both our investors and the broader Scottish economy. We are in advanced discussions with a number of exciting new companies, and we anticipate seeing these deals coming to fruition over the coming months."
David Ovens
Joint Managing Director at Archangels
Investor perspective
"The Regional Angels Programme plays a vital role in developing the early-stage funding ecosystem across the UK Nations and Regions, bringing together finance, business experience and skills to support the development of high-growth smaller businesses. By investing alongside Archangels’ syndicate, this £12m co-investment agreement from British Business Investments will support early-stage life sciences and technology companies across Scotland."
Judith Hartley
CEO, British Business Investments
Investors
About the company
Archangels
Archangels is a business angel syndicate investing in early stage Scottish companies.