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UK - 2005 sees Archangel portfolio bear fruit

Guy
27 February 2006

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Archangel Informal Investment Ltd's annual review, released over the weekend, reveals its continuing confidence in the Scottish market for young technology companies with the investment of a further £4m in 14 of its existing portfolio businesses during 2005. Topping the £2.4m invested in existing businesses during 2004, last year’s figures reflect the syndicate’s philosophy of patience and support as it seeks to help the boards of its companies achieve solid growth and safeguard the best interests of their shareholders. The higher proportion of funds advanced during the last year to existing businesses was augmented by £2.1m invested in four entirely new enterprises.

Archangel’s optimistic approach during 2005 has been borne out by sustained buoyancy in the investment environment; an increasingly strong sock market; and a general rise in the quality of opportunities. A further encouraging sign noted by Archangel was the increase in IPO activity, with Stem Cell Science’s July 2005 AIM debut, as well as this month’s successful flotation of Optos on the main market.

Of the total £6.1m which Archangel invested in 18 early stage companies during 2005, 50% was in the life sciences sector, 16% in software and 34% in other technology and consultancy businesses.

New additions to the portfolio were Adventi Group, a provider of IT sales and management services; Martin Energy, which aggregates the power of standby generators for sale onto the national grid; Sentient Medical, a Dundee University spin-out developing an inner-ear implant to replace existing hearing aid technology; and Blacket Research, a consultancy business providing research and analysis to the pensions industry.