Over 180 investors and entrepreneurs recently attended a dinner to celebrate a quarter century of early-stage investment by the Archangels business syndicate (archangelsonline.com).

They heard that the syndicate has invested more than £222 million in 82 Scottish companies — creating over 3,500 high-value jobs — since it was launched in 1992.

These companies have generated an estimated £1.39 billion in turnover since then, which equates to £14.34 for every £1 invested. Archangels arranged £14.6 million of investment over 12 funding rounds during 2016.

Archangels chairman Eric Young said: “The four pillars on which Archangels was founded were: to put something back; support young Scottish companies; make an investment return; and have fun.

“These have stood the test of time well. Through our investments in companies such as Touch Bionics — producer of the world’s first bionic hand — and Optos — creator of the world’s first wide-field eye scanner — we can truly say that we have improved lives world-wide.

“We value the support that our investors and key partners — particularly the Scottish Investment Bank — have provided during this journey. In the next 25 years, we will continue to build on what we have achieved so far, to support and nurture future generations of entrepreneurs to generate value for the Scottish economy and our investors, and to create high-quality jobs and improve lives.”

Professor Rob Wiltbank, of Willamette University, Oregon, said: “Archangels is the longest consistently running business-angel organisation in the world. This is something to be proud of in Scotland.”