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Equity Gap lines up eight funding deals for Q1

jock millican and fraser lusty

Jock Millican and Fraser Lusty of Equity Gap

Business angel syndicate Equity Gap heads into the new year with eight funding rounds valued at more than £10m due to complete in the first quarter.

Director Fraser Lusty said the new investments build on “outstanding progress” in 2021 from companies across the portfolio.

“We already have a strong pipeline of commercial traction and fundraising to build on this success in 2022 and beyond,” he said.

The year culminated in the recent trade sale of catering software firm Spoonfed to 365 Retail Markets, backed by Providence Equity Partners.

It delivered returns for 31 of the syndicate’s members, including seven of the original founder members.


The deal concluded a year in which Equity Gap members invested £4m across 28 funding rounds, leveraging total funding of £34m into investee companies. 

Key funding partners include Scottish Enterprise, SIS Ventures, Alba Equity, Archangels, Kelvin Capital, Par Equity, Foresight Group and, for the first time, the Scottish National Investment Bank.

Deals completed over the past 12 months mean the Equity Gap syndicate has invested £25m and leveraged a further £100m since it launched in 2010.

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