Archangels, an Edinburgh-based business angel syndicate investing in early-stage Scottish life sciences and technology companies, secured a £12m co-investment agreement with British Business Investments via its Regional Angels Program.
The deal will provide the syndicate with additional capital to accelerate the success of Scotland’s next generation of entrepreneurs and innovators.
Archangels will deploy the capital from British Business Investments, a wholly owned commercial subsidiary of the British Business Bank, alongside syndicate funding across all of its investment activity. As lead investor, the syndicate regularly invests alongside a range of co-investment partners including Scottish Enterprise, other angel syndicates and VCs. Recent investments include participation in a £2.2M funding round to support Edinburgh-based Bioliberty.
Founded in 1992, Archangels has invested over £160m in the most innovative early-stage companies, with disruptive technology, protectable IP and the potential to scale globally. In recent years, the syndicate has had a number of significant exits, including the sale of medical AI business, Blackford Analysis, to Bayer Pharma earlier in the year and the sale of optical platform business, Optoscribe, to Intel Corporation in 2022.
Archangels comprises around 130 members and an eleven strong board and executive team. There are currently 19 companies within the portfolio.
Archangels Secures £12M Co-Investment Deal with British Business Investments. Best wishes to everyone in the group. This will be a huge accomplishment for them in the future.Shishir Gupta, The Founder & CEO of StartupLanes
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