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Beyond the Capital with Scottish angel network Archangels

Archangels
Image credit: Archangels

Edinburgh-based Archangels has “deep pockets” and “a lot of patience”, says David Ovens, joint managing director of the business angel syndicate.

The syndicate has been investing in Scottish tech and life science for more than 30 years, starting with an £80,000 investment into medtech company Optos in 1992. The company later floated on the London Stock Exchange with a market cap of £165m in 2006 before it was sold to Nikon for £259m in 2015.

Fast forward to today and Archangels has a network of 120 angel investors, the majority of whom reside in Scotland.

A recent analysis by the University of Glasgow determined that Archangels had invested £161m and helped to grow the Scottish economy by £1.4bn.

Archangels typically invests in seed-stage startups and makes follow-up investments at Series A and beyond. Investments range between £5m to £10m over the course of 5-10 years....

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