Business angel syndicate members of LINC Scotland in the fourth quarter invested more than double the amount they did in the preceding three months, taking the 2020 total close to the prior year’s record, writes Ian McConnell.

Investment by the syndicates totalled £6.78 million in the final three months of 2020, up from £2.98m in the preceding three months. This took the total for last year to £25m, close to the record annual figure of £26.9m for 2019.

David Grahame, director of LINC Scotland, flagged the changing patterns of investment amid the pandemic.

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He said: “LINC member syndicates started 2020 with the impetus of record investment in the previous quarter, and this high level of activity was initially maintained. The coronavirus changed everything, but the syndicates were able to keep investing, supporting portfolio companies to an extent which was beyond initial fears and expectations.”

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He added: “Investment in new companies suffered a little while the focus was on those needing immediate help, but it is very gratifying to see the syndicates once more engaging with and investing in new companies, and maintaining the pipeline of ventures which are essential to the future of Scotland’s economy.”