Archangels, an angel investment syndicate in Edinburgh, has announced Ian Macleod as its new board chair. Eric Young, who has held the role since 2014, will be succeeded by the former investment analyst and fund manager. Eric will remain on the Archangels' board of directors.

Macleod worked as an analyst in London and Paris for ANZ Capel Cure Myers and then for NatWest Markets and Jeffries. He specialised in the electronics and telecoms industries.

Later in his career, he concentrated on smaller tech, cleantech, and biotech firms, eventually going into fund management with 360 Asset Managers and, most recently, Accessible Clean Energy. Ian returned to Edinburgh in 2016 and joined the board of the Archangels in 2018.

Archangels is a business angel syndicate based in Scotland that invests in early-stage medical science and technology companies. The company has about 120 employees and full-time executive staff of five.

The syndicate committed £11.8 million in 2021, bringing the total investment to £23.6 million, including co-investment from Scottish Government departments and other partners. The portfolio currently contains 20 companies.

Macleod said, commenting on his new position:

"The Scottish angel investment sector is helping to make Scotland a powerhouse in the life science and technology industries. Archangels are at the forefront of that effort and it’s an honour to take on the role of chair. While there may be challenging economic conditions ahead, by providing funding and a wealth of other support to our dynamic portfolio companies we can be optimistic about good outcomes for all our stakeholders."

"Under Eric’s chairmanship, Archangels has gone from strength to strength over the last eight years and I’m glad to keep his senior counsel on the board. I’m looking forward to supporting our portfolio businesses and investors, supporting entrepreneurialism and positively contributing to the Scottish economy.”

Eric Young, board member at Archangels, said:

“With Ian’s long and highly successful career comes a great deal of experience and wisdom, all of which he will bring to the role of chair. Having worked with Ian since he joined the board in 2018, I am entirely confident that he is the right person to lead Archangels into the next exciting chapter of its growth.”

Source: Digit News