Archangels has appointed Andrew Sealey as Chair of its board, succeeding Ian Macleod. Andrew has been an Archangels investor since the syndicate was established in 1992 and has sat on its board since 2021. Ian Macleod had been Chair since 2022 and on the board since 2018.
Andrew is Non-Executive Chairman of Lazard CL, a division of Lazard formed through its 2026 acquisition of Campbell Lutyens and merger with its own global private capital advisory group. He joined Campbell Lutyens in 1990, took over responsibility for managing the firm in 2003, and remained as CEO until he stood down in 2024 to become part-time Chairman. The firm grew during his tenure to over 300 people operating from thirteen offices around the world. Andrew also sits on the investment committee of Greater Share, described as a philanthropic private equity investment firm that aims to generate returns for both investors and high-impact NGOs.
So far in 2026, Archangels has invested £27.8m in nine new and existing portfolio companies based in Scotland, comprising £11.1m from members and £16.7m from co-investment partners. This has included backing for University of Edinburgh spin-outs Biocaptiva and Bioliberty. Archangels was also named Angel Group of the Year at the UK Business Angels Association awards this year.
Andrew Sealey said: “I would like to thank Ian for his outstanding contribution. He has provided calm and thoughtful leadership through a period of uncertainty and volatility in the market, while helping Archangels continue to support ambitious entrepreneurs building successful companies in Scotland.
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“Having been an Archangels investor since the very beginning, I am delighted to be taking on the Chair and excited about the next stage of its development. We have a strong community of members, an exciting portfolio and an important role to play in supporting the next generation of Scottish businesses. I look forward to working with our executive team, board, members and the wider ecosystem to ensure Archangels continues to have a meaningful impact for many years to come.”
Ian Macleod, outgoing Chair of Archangels, said: “As a board member and then as chair, I am proud to have contributed to our shared goal of helping young Scottish companies to succeed. I am pleased to be passing the baton to Andrew who is hugely qualified for the job, and with it a vibrant and sustainable business which is poised to continue to deliver excellent returns to members. My thanks and best wishes to our amazing executive team and board and to our members, company management teams, co-investors and business partners who I have so enjoyed getting to know over the past nine years. I look forward to continued engagement as an Archangels member.”
