25th anniversary gathering
Investors mark Archangels milestone
Almost 200 investors and entrepreneurs will gather tonight to mark 25 years since Mike Rutterford and Barry Sealey hatched a plan to invest in early stage companies.
The two successful businessmen established one of Scotland’s first business angel syndicates and since 1992 it has overseen more than £222m of investment by members and partners in 82 Scottish companies.
Eric Young, chairman, speaking ahead of tonight’s event at Dovecote Studios in Edinburgh, said: “The four pillars on which Archangels was founded: to put something back; support young Scottish companies; make an investment return; and have fun; have stood the test of time well.”
Stagecoach founder Sir Brian Souter, a longstanding Archangels investor, will give a keynote speech.
Guests will hear that total funds invested by investors since 1992 breached the £100m mark (£103.5m) during 2016.
One of their first investments was in Dunfermline-based Optos, which floated on the London Stock Exchange in 2006 and was subsequently acquired by Nikon Corporation in 2015. Archangels currently has a portfolio of 22 investee companies.
Archangels’ companies have generated an estimated £1.39 billion in turnover since 1992, which equates to £14.34 for every £1 invested.
The investments have generated £989m in added value to the Scottish economy during that time.