May 2, 2018 Archangels

Archangels’ Chorus 2018 | Supporting Scale-up Through Follow-on Funding

“Archangels’ track record in helping early stage businesses to scale is very impressive.” Sherry Coutu C.B.E.

02 May 2018

The role of Archangels in supporting Scottish companies to scale-up was highlighted at our annual Chorus event on Thursday, 26th April in Edinburgh. The event was attended by our portfolio companies, members, advisers and stakeholders, including the Scottish Investment Bank and was sponsored by Chiene + Tait, Dickson Minto and MBM Commercial.

A drinks reception and trade show of the companies we support started the evening, followed by dinner, which featured an interview with Sherry Coutu C.B.E., entrepreneur, angel investor and non-executive director. Sherry was interviewed by Sheena McDonald.

Attendees heard that in 2017 – which was a record year of investment for Archangels – of the £17.3m of investment led by Archangels, £16.7m was in the form of follow-on funding.  Since the start of 2018, Archangels has led further funding rounds totalling £4.4.m, of which £2.4m has been in two further rounds of follow-on funding. Archangels also exited its investment in Oregon Timber Frame in March 2018.

Eric Young, Chairman of Archangels said:

“It is generally recognised that, here in Scotland, although we’re pretty good at encouraging and supporting start-ups, the greater challenge we face is in enabling these companies to reach the next stage in their development and reach the scale required to achieve real success.”

Eric added: “Scaling requires more than just access to capital but also to talent and to the appropriate networks that can help to make the right connections to help young companies grow and develop into world-beaters. At Archangels we are working with our companies to help them scale, to innovate and to create the high quality jobs and success which can make a significant contribution to the economy of Scotland.”

Sherry Coutu said:

“From my own entrepreneurial journey, I know what a difference it can make to have patient investors with deep pockets and access to great networks. Growing a technology business is hard work and the right investor can make the journey a bit easier. Archangels’ track record in helping early stage businesses to scale is very impressive.”

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