INVESTMENT syndicate, Equity Gap, this month celebrates 10 years as one of Scotland’s most successful angel investment groups with record investment figures and a healthy pipeline of new deals.
Meeting the challenge of Covid-19 head on, the syndicate completed 22 investments in the first half of 2020, with total member funds invested since inception topping £20 million.
In June, it added Aberdeen-based green tech start-up, Trojan Energy to its portfolio as the firm secured a £4.1 million round of seed funding to support the roll-out of its on-street flat and flush electric vehicle (EV) charging points.
Having grown from 15 to 150 members since launching, the firm’s portfolio of over 30 early stage start-ups has created over 400 jobs, primarily in Scotland, across a range of sectors including consumer product, food and drink, life science and SaaS.
But, as the UK officially moves into recession, Equity Gap’s directors believe entrepreneurs and new businesses must play a significant part in rebooting the economy by creating employment opportunities, fuelling growth and driving future prosperity.
Jock Millican, founder and director of Equity Gap and also chairman of the LINC Scotland angel capital association, said: “We have worked hard to ensure continuity of business and investment through an unsettling time and this is reflected in our half year figures. With a healthy pipeline of new investments, Equity Gap is well placed to continue to support young businesses through angel investment.
“It has never felt more important to support these fledgling organisations as we rebuild our economy.
“Overall figures from Q2 of 2020 show Scotland’s angel syndicates led 58 deals which totalled £40.87 million with approximately 20% of this investment going into new companies.”
Earlier this year Equity Gap expanded its operations by hiring three more members of staff, taking the team to a total of nine, and moving to an Edinburgh city centre office.