Angel Capital Scotland (ACS) has appointed a new board of directors, with Niki McKenzie, Joint managing director of Archangels, taking on the role of chair.
The new board brings together some of Scotland’s most experienced leaders from across angel investment, entrepreneurship, and economic research.
Joining the board are Lynne Cadenhead, chief operating officer at TRICAPITAL Angels and chair of Women’s Enterprise Scotland; Fraser Lusty, managing director at Equity Gap, and Professor Niall MacKenzie, head of the Hunter Centre for Entrepreneurship, Strategy and Innovation at the University of Strathclyde.
Ms McKenzie brings over 14 years of experience with Archangels after spending 16 years in banking and structured finance with KPMG and Lloyds Banking Group.
As a qualified chartered accountant, she has overseen numerous investments across Scotland’s technology and life sciences sectors and provides strategic guidance to portfolio companies. She currently serves on the board of St Andrews Innovation, the commercialisation subsidiary of the University of St Andrews, and is a Trustee of National Museums Scotland.
The board transition sees Jock Millican step down as chair after 14 years, during which he oversaw the transition from LINC Scotland to Angel Capital Scotland and the appointment last September of Margaret Morton as the organisation’s first chief executive
Ms McKenzie said: “Scotland’s angel investment community has built a world-class reputation, but we need to do more to articulate the impact of our ecosystem and continue to attract new investors.
‘With Margaret’s leadership and this exceptional board, we’re well-positioned to demonstrate the vital role angel investment plays in Scotland’s economy and to ensure our high-growth companies continue to access the capital they need to scale.”
Scotland boasts one of the world’s most developed angel investment networks, comprising around 2,000 individual investors across 15-20 angel groups.
In the year ending March 2025, deals led by ACS business angel members unlocked private sector investment of £106.4 million across 91 investments and leveraged £25.6 million of public sector investment, totalling £132 million.
Of the 22 rounds of investment greater than £5 million in 2024, more than half were supported by ACS member groups, demonstrating the critical role angel investors play in enabling companies to scale.
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