Archangels, partners made £24m investments in 2021

Archangels joint managing director David Ovens

Archangels, the Edinburgh-based business angel investment syndicate, said it led investments totalling a record £23.7 million in promising Scottish tech and life sciences companies during 2021 — an increase of 44% over 2020.

The 11 investments included a £1 million initial investment in BioCaptiva, which is developing Biocaptor, a revolutionary medical device that will transform liquid biopsy testing and enhance cancer detection.

In total, Archangels invested £11.8 million of Archangels members’ cash during 2021, up 46% on 2020.

Co-investors during 2021 included Scottish Enterprise, Maven Capital Partners, Par Equity, Sands Capital Ventures and NVM.

Archangels joint managing director David Ovens said: “Our 2021 investment performance demonstrates our ongoing commitment to investing in promising Scottish businesses that are at the leading edge of innovation in their field.

“Scotland’s tech and life sciences markets are as vibrant as they have ever been and there’s no shortage of great ideas coming from Scottish inventors, change-makers and innovators.”