Angels Den aims to double its Scottish presence

ANGELS Den, an online "dating agency" linking start-up and early-stage firms to wealthy investors, is to double both its presence in Scotland and the size of average deals.

The move will consolidate the company from generating "individual investor" networking activity to a more formal syndicated approach, leading to a typical deal rising from 220,000 to around the 500,000 level.

The move marks Angels Den's first year in business in Scotland, with upwards of 10 million in deals expected in a growing portfolio led by ventures in the technology sector.

The firm said it is responding to calls by the market, and especially business angels themselves - both within and outwith its ranks - to fill the gap left by a lack of debt finance for early-stage companies plus venture capitalists seeking larger deals.

Cameron Thomson, a former banker and the Scottish regional director, said they already have 300 members north of the border and now aim to swell those numbers to 500 or more.