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.

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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