Archangel Informal Investment is believed to be the longest-standing angel syndicate in the world as it celebrates 20 years of backing Scottish start-up firms.
The firm has invested £174 million in more than 70 companies since it was founded by Mike Rutterford and Barry Sealey in 1992.
Professor Robert Wiltbank of Willamette University in Oregon believes that it is the oldest angel investment group in the world.
Archangels’ newest investments include £800,000 to Edinburgh University spin-out Blackford Analysis, which will allow the algorithmic solutions developer to embark on a business development programme in the UK and US.
The business angels have also handed £800,000 to camera design and manufacturing company NC Tech, which has developed the world’s first fully automatic 360 degree camera.
David Grahame, executive director at LINC Scotland, said: “Scotland’s support of early-stage business has taken its place on the world stage and many say we’re second only to Silicon Valley in terms of density of activity.
“When you consider the size of Scotland compared to the rest of the UK, or most European regions, and take into account the levels of angel investment here, it’s understandable why angel syndicate groups such as Archangels have such a significant reputation across the globe.”
