ANGEL investment team Archangels hit just about £24m in funds for Scottish tech and lifetime sciences firms in 2021.
The Edinburgh-based organization led 11 investments totalling £23.7m – a 44% increase on the £16.3m raised the prior calendar year.
They bundled a £1m-plus preliminary expense in BioCaptiva, which is developing a groundbreaking clinical gadget that will remodel liquid biopsy screening and enrich most cancers detection.
Archangels invested £11.8m of its members’ income during 2021 with the rest coming from co-investors including Scottish Enterprise, Maven Funds Partners, Par Equity, Sands Money Ventures and NVM.
David Ovens, joint handling director at Archangels, mentioned: “Our 2021 investment decision functionality demonstrates our ongoing motivation to investing in promising Scottish firms that are at the top edge of innovation in their field.
“Scotland’s tech and lifestyle sciences markets are as lively as they have at any time been and there is no lack of good tips coming from Scottish inventors, improve-makers and innovators.”
Highlights for 2021 for Archangels and its portfolio businesses integrated:
- Calcivis, the Edinburgh-based mostly dental engineering corporation, concluded a £1.52m fairness fund elevate, led by Archangels and also showcasing investment decision from Scottish Organization and Lynx Economic in preparation of the US start of the world’s 1st biotechnology-centered dental imaging process. The enterprise also appointed lifetime sciences skilled, Dr John Brown, as Non-executive Chairman and Vancouver-based Michael Crane as a Non-government Director.
- Archangels co-founder, Mike Rutterford, received the Life span Accomplishment Award at the UKBAA Angel Expenditure Awards, recognising his 29-yr-very long contribution to organization angel investing in the United kingdom, together with that of his Archangels co-founder, Barry Sealey.
- Archangels led an preliminary £1m expense in Scottish bio-tech corporation, BioCaptiva, which has formulated a novel upcoming era “liquid biopsy” engineering device that could revolutionise the early analysis and monitoring of hard to detect cancers. Scottish Company were being co-buyers in the seed funding round for the Edinburgh College spin-out. BioCaptiva also introduced the appointments of Dr Frank M Armstrong as Chairman and Dr Stephen Little as a Non-govt Director and Expense Director.