Archangels, has appointed Daniel McKiddie as investment manager to join its executive team, led by joint Managing Directors Niki McKenzie and David Ovens.
Archangels has recruited McKiddie, a chartered accountant, to work alongside Senior Investment Manager, Shaolei McKie in managing analysis, fundraising support and exit strategies for its investment portfolio of Scottish life sciences and technology businesses.
After studying mechanical engineering at Glasgow University, Daniel McKiddie spent eight years at PwC. He started his career in the financial audit sector, before moving into the transaction services team at PwC, where he performed financial due diligence across a range of sectors. His most recent role was as investment manager at Inverleith LLP.
Operating for over 30 years, Archangels’ investor members have invested over £160 million in the most innovative early-stage companies, with disruptive technology, protectable IP and the potential to scale globally. As lead investor, Archangels invests alongside a range of co-investment partners including Scottish Enterprise and, most recently, British Business Investments.
Archangels has enjoyed a number of significant exits in recent years, including the sale of medical AI business, Blackford Analysis, to Bayer Pharma earlier in the year and the sale of optical platform business, Optoscribe, to Intel Corporation in 2022.
David Ovens, Joint MD at Archangels, said: “The recruitment of Dan gives us the additional capacity we need within the team to thoroughly assess quality deal-flow, whilst supporting and realising value within the existing portfolio. His engineering and accounting background provides an ideal skillset as we continue to invest in Scotland’s most exciting technology and life sciences businesses.”
Daniel McKiddie said: “It’s an exciting time to join Archangels as its patient capital approach to supporting Scottish life sciences and technology businesses is more crucial than ever. Scotland has the potential to be a world-leading hub for those sectors and I’m looking forward to working with the team, the portfolio businesses and the membership to support that ambition.”