Ian Macleod, a former investment analyst and fund manager, takes over the helm from Eric Young, who has held the position since 2014. Young will continue to sit on the Archangels board.
Macleod worked in London and Paris for many years as an analyst, specialising in the electronics and telecoms industries, initially with ANZ Capel Cure Myers and longer spells at both NatWest Markets and Jeffries.
Later in his career, he focused on smaller tech, cleantech and biotech companies, moving into fund management with 360 Asset Managers and more recently Accessible Clean Energy. Returning to Edinburgh in 2016, Macleod joined the Archangels board in 2018.
He said: “The Scottish angel investment sector is helping to make Scotland a power house in the life science and technology industries. Archangels are at the forefront of that effort and it’s an honour to take on the role of chair.
“While there may be challenging economic conditions ahead, by providing funding and a wealth of other support to our dynamic portfolio companies we can be optimistic about good outcomes for all our stakeholders.”
He added: “Under Eric’s chairmanship, Archangels has gone from strength to strength over the last eight years and I’m glad to keep his senior counsel on the board.
“I’m looking forward to supporting our portfolio businesses and investors, supporting entrepreneurialism and positively contributing to the Scottish economy.”
Young said: “With Ian’s long and highly successful career comes a great deal of experience and wisdom, all of which he will bring to the role of chair. Having worked with Ian since he joined the board in 2018, I am entirely confident that he is the right person to lead Archangels into the next exciting chapter of its growth.”
In December, the business angel syndicate revealed that it led investments totalling a record sum of nearly £24 million in promising Scottish tech and life sciences companies in 2021, up significantly from the previous year.
It said it had seen a “packed” year of corporate activity with 11 investments amounting to £23.7m, a year-on-year jump of 44 per cent from £16.3m.