Death announced

Barry Sealey, Archangels co-founder, dies aged 88

Barry Sealey, angel pioneer (pic: Archangels Investors)

Scottish businessman Barry Sealey, who co-founded Edinburgh-based Archangel Investors more than 30 years ago, has died at the age of 88.

Mr Sealey was a pioneer in angel investing, launching Archangel with Mike Rutterford in 1992.

David Ovens, the current joint managing director, who posted a tribute to Mr Sealey on social media, said: “He would be very proud of what he had built and the impact that Archangels companies have had in Scotland and around the world.

“More than 5,000 jobs created and nearly £200 million invested in some of Scotland’s most exciting and innovative young companies, many of which are using technology to deliver significant social impacts.”

Prior to establishing Archangels, Mr Sealey spent 32 years as a deal-maker and innovator rising to the top of Christian Salvesen.

Since “retiring” in 1990, he had stints on the boards of companies such as Stagecoach Holdings and chairing public sector bodies including Edinburgh Healthcare NHS Trust.

In an interview with Daily Business in 2015, Mr Rutterford said he and Mr Sealey had little idea what they were launching in 1992 and were struggling to think of a suitable name.

“Angels were people who helped to support stage shows in the west end and we began to realise that this was what we were doing in business,” he said.

At the time a woman called Juliet Chapman was working for them.

“She said the highest form of angel was an Archangel,” said Mr Rutterford. “In fact she got it wrong. The highest form is a cherub, but somehow I could not see Barry as a cherub.”

Asked who was his mentor, Mr Rutterford said: “I guess it was Barry. He was my mentor, or perhaps tormentor. He mentored me and I mentored him.”

Leave a Reply

Your email address will not be published. Required fields are marked as *

This site uses Akismet to reduce spam. Learn how your comment data is processed.