Tim Allan is joining the board of Archangels, the angel investor group specialising in early stage technology and life sciences companies in Scotland. He succeeds Alastair Salvesen CBE, whose retirement from the Archangels board, on which he has served for 10 years.
Archangels’ members invest in, and mentor, promising start-up and early stage companies from Scotland’s vibrant technology and life sciences sectors. Established in 1992, Archangels has made a significant contribution to the Scottish economy, with its investments leveraging an estimated ￡1.2bn of GVA and creating around 4,000 highly skilled jobs. The current portfolio of companies employs over 650 people.
The syndicate has been actively involved in the development of the early stage technology investment ecosystem in Scotland and has contributed to shaping the remit of the new Scottish National Investment Bank.
Archangels will benefit from Tim Allan’s network of contacts across business and public policy. He currently serves as President of the Scottish Chambers of Commerce. He is a private equity and property entrepreneur with many philanthropic interests. He is a founder and director of Motor Fuel Group, the second largest independent fuel retailer in the UK with more than 370 stations and annual turnover of ￡2bn. Tim has been an Archangels member since 2017 and has actively contributed to the syndicate’s New Deals Committee during the past year.
Alastair Salvesen is a long term Archangels investor and joined the board in 2009. He is a Chartered Accountant, holds an MBA and is Chairman at Dawnfresh Seafoods Limited and Dovecot Studios Limited. He is a past president of the Royal Highland and Agricultural Society of Scotland and the British Frozen Food Federation. Alastair is also a director of several other companies. In June 2017, he received an Honorary Doctorate from Cranfield University.
Eric Young, Chairman of Archangels, said:
“It is hard to imagine an Archangels board meeting without Alastair in attendance and I know I speak for everyone within our syndicate when I say that we shall miss his wise counsel, his incisive analysis and his quick wit.
“Tim’s knowledge of the technology sector and his significant experience of the policy-making agenda will be invaluable for the Archangels board, most specifically as Scotland approaches the establishment of the Scottish National Investment Bank, which is set to become a major influence on business innovation and investment when it is launched in 2020.”