Angel investment syndicate Equity Gap bolsters offering with board hires

Edinburgh-based angel investment syndicate Equity Gap has unveiled key board appointments, as it looks to expand its relationships with next-stage funders and enhance exit capability.

Tracey Ginn, US and UK corporate partner at MBM Commercial; Rachel Jones, entrepreneur and founder and chief executive of SnapDragon Monitoring; and Brian Williamson, entrepreneur, chair at 4ICG and experienced board member, will join the board as non-executive directors, while Stuart Paterson, partner at Scottish Equity Partners, will become a board advisor.

Founder Jock Millican and fellow director Fraser Lusty will remain as executive board members, with Wright Johnston Mackenzie partner Ken Long retaining his advisory role.

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Equity Gap founder Jock Millican says the appointments 'come at an exciting time' for the syndicate. Picture: Ditte Solgaard, First Light Photography.

Equity Gap says it has a portfolio of 38 high-growth, early-stage companies across sectors including cleantech, food and drink, life sciences, fintech and software as a service.

Recent additions to the portfolio include PneumoWave (formally known as Altair Medical), which is developing a remote respiratory monitoring offering, and Ulemco, billed as the world’s first hydrogen commercial vehicle conversion company.

Equity Gap adds that its members have invested £25 million directly over the last 11 years, leveraging further funding of more than £100m and creating at least 450 jobs in Scotland and beyond. Matched funding for some deals comes from the Scottish Co-Investment Fund run by Scottish Enterprise.

Mr Millican, a former Scotland rugby international who started the syndicate in 2010, said: “These new appointments come at an exciting time for Equity Gap, as we build our capabilities in next-stage funding and exit readiness. We look forward to having the diverse knowledge and experience of Tracey, Rachel, Brian and Stuart to support us in this development.”

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