Archangels, a number one enterprise angel syndicate investing in early-stage Scottish life sciences and expertise firms, is bolstering its funding fireplace energy after securing a £12m co-investment settlement with British Enterprise Investments through its Regional Angels Programme.
The deal will present the Edinburgh-based syndicate with extra capital to gas the success of Scotland’s subsequent technology of entrepreneurs and innovators.
Archangels will deploy the capital from British Enterprise Investments, a completely owned business subsidiary of the British Enterprise Financial institution, alongside syndicate funding throughout all of its funding exercise.
Working for over 30 years, Archangels is deeply dedicated to its long-term position in maximising investor returns, constructing and nurturing profitable companies and serving to Scotland prosper. Archangels has invested over £160 million in probably the most progressive early-stage firms, with disruptive expertise, protectable IP and the potential to scale globally. In recent times Archangels has loved quite a few important exits, together with the sale of medical AI enterprise, Blackford Evaluation, to Bayer Pharma earlier within the yr and the sale of optical platform enterprise, Optoscribe, to Intel Company in 2022.
As lead investor, Archangels usually invests alongside a spread of co-investment companions together with Scottish Enterprise, different angel syndicates and VCs. Latest investments embody participation in a £2.2M funding spherical to help Edinburgh-based Bioliberty.
David Ovens, Joint Managing Director at Archangels, stated: “The co-investment settlement from British Enterprise Investments implies that, in a difficult international market, Archangels may have entry to important ranges of aligned co-investment capital. This extra funding will permit us to help present and future portfolio firms to develop their companies and supply returns for each our buyers and the broader Scottish economic system. We’re in superior discussions with quite a few thrilling new firms, and we anticipate seeing these offers coming to fruition over the approaching months.”
Judith Hartley, CEO at British Enterprise Investments, stated: “The Regional Angels Programme performs an important position in growing the early-stage funding ecosystem throughout the UK Nations and Areas, bringing collectively finance, enterprise expertise and expertise to help the event of high-growth smaller companies. By investing alongside Archangels’ syndicate, this £12m co-investment settlement from British Enterprise Investments will help early-stage life sciences and expertise firms throughout Scotland.’’