TRICAPITAL Angels Limited

🤝 𝐃𝐄𝐀𝐋 𝐀𝐍𝐍𝐎𝐔𝐍𝐂𝐄𝐌𝐄𝐍𝐓 🤝 Pioneering Scottish business Beta Bugs Limited has secured a multimillion-pound investment as it looks to become a global leader in insect genetics. TRICAPITAL Angels led a £1.7 million investment into the business in 2023 – and has now followed up with a fresh £2.1 million cash injection alongside Scottish Enterprise. Beta Bugs was launched in Edinburgh in 2017 by CEO and founder Dr Thomas Farrugia@ and is based at the Easter Bush Campus – a centre of excellence for animal genetics and home to the Roslin Institute. The investment will enable Beta Bugs to further accelerate its development into an international player in Black Soldier Fly genetics, as well as enabling the company to scale up production of eggs and juvenile larvae to supply to insect farming operations. 📰 Read more here: https://lnkd.in/eY9ADK-6 Moray Martin | Lynne Cadenhead | Kathy Kinder | Susan Arnold | Andy Purves

🗞️ 𝐓𝐑𝐈𝐂𝐀𝐏𝐈𝐓𝐀𝐋 𝐢𝐧 𝐭𝐡𝐞 𝐧𝐞𝐰𝐬 🗞️ A huge thank you to The Scotsman for shining a spotlight on the impact our angels have had on the Scottish economy over the past 12 months. Over the past year, our members have subscribed more than £3.5 million of their own money into some of the country’s most innovative companies, helping to deliver a record 18 investment deals. That investment has leveraged close to £30 million of investment overall – including £3.1 million from Scottish Enterprise – helping to create and support more than 500 jobs in sectors ranging from artificial intelligence and biotech to renewable energy. You can read the article here: https://lnkd.in/exGduqH6 Our syndicate currently has around 80 members and remains ready to welcome angels looking to join our ranks. The door also remains open for young and innovate Scottish companies with high-growth potential to pitch for funding in 2025. Become an angel 👇 https://lnkd.in/dqU8SXCA Apply for investment 👇 https://lnkd.in/es7uqwFs Moray Martin | Lynne Cadenhead | Andy Purves | Kathy Kinder | Susan Arnold

🤝 𝐃𝐄𝐀𝐋 𝐀𝐍𝐍𝐎𝐔𝐍𝐂𝐄𝐌𝐄𝐍𝐓 🤝 An innovative Scottish company looking to revolutionise the way buildings are insulated has secured a substantial six-figure investment. Sisaltech has successfully raised £800,000 in a funding round led by TRICAPITAL Angels, with backing from Scottish Enterprise. The Midlothian-based company uses natural and recycled fibres to create innovative low-carbon insulation products that are highly breathable and well-suited to retro-fitting traditional stone buildings. Its SISALWOOL™ products - which are already stocked by B&Q - can be used in a wide variety of applications including pitched roofs, wall, and under suspended timber floors. Moray Martin, Chief Executive Officer of TRICAPITAL Angels, said: “Sisaltech is a forward-thinking, innovative and impactful business, exactly the type of company we are geared up to accelerate as they scale and transform the construction sector with products that perform exceptionally while tackling the climate emergency." The new funding will support Sisaltech’s plans to increase manufacturing capacity and explore new market opportunities. Its growth will also deliver a boost to supply chains, including Scottish sheep wool and help develop the circular economy. Read more here: https://lnkd.in/ewvmibZ4 Moray Martin | Kathy Kinder | Lynne Cadenhead | Andy Purves | Susan Arnold |

🤝 𝐃𝐄𝐀𝐋 𝐀𝐍𝐍𝐎𝐔𝐍𝐂𝐄𝐌𝐄𝐍𝐓 🤝 It's a second December deal for our angel investors, who have backed an ambitious Scottish start-up looking to net its share of Europe’s £9 billion seaweed market. Kaly Group has successfully raised £300,000 in a funding round led by TRICAPITAL Angels, with co-investment from Scottish Enterprise.   The business opened its first seaweed farm on the Isle of Skye earlier this year and will use the cash injection to expand its operations and develop an integrated and sustainable seaweed supply chain along Scotland’s west coast.   Seaweed offers clean alternatives to plastics, cosmetics, pharmaceuticals and textiles, and can also be used in food, animal feed and fertilisers. The potential for seaweed farming to revitalise Scotland’s marine industries is also significant.    With full-scale processing facilities, the sector could create over 550 jobs across the Scottish supply chain, offsetting the decline of traditional fishing and marine industries. Read more here 👇 https://lnkd.in/dN2wJuVe Moray Martin | Lynne Cadenhead | Susan Arnold | Kathy Kinder | Andy Purves

🤝 𝐃𝐄𝐀𝐋 𝐀𝐍𝐍𝐎𝐔𝐍𝐂𝐄𝐌𝐄𝐍𝐓 🤝 Groundbreaking new technology capable of generating power without emitting carbon will be developed in Durham, Edinburgh and Aberdeen following a six-figure investment by TRICAPITAL members. H2CHP has secured a cash injection to advance its free-piston engine, which generates heat and power efficiently from multiple clean fuels. The technology, initially aimed at eliminating emissions from idle ships burning marine fuel when berthed, also has significant potential in other sectors requiring off-grid power solutions. TRICAPITAL Angels has led a £600,000 investment raise to support H2CHP, alongside Sustainable Venture and funding from the Net Zero Technology Centre TechX accelerator programme. This funding will be combined with £1.3 million in support from Innovate UK to develop prototype generators and conduct industrial trials. Middlesbrough-based H2CHP, a spin-out from Durham University, now plans to establish a manufacturing base in #Aberdeen alongside a control systems team in #Edinburgh to further the development of this transformative technology, creating a number high-value jobs in Scotland. Read more here 👇 https://lnkd.in/dYt7BAq9 Moray Martin | Lynne Cadenhead | Kathy Kinder | Susan Arnold | Andy Purves | Tony Roskilly

We were honoured to be recognised as a leading angel investor in women at the Growth Investor Awards in London last night. The awards are a celebration of the growth investor community that supports the UK’s SMEs and startups. We were shortlisted and runner-up in a new category for firms that have signed the Investing in Women code and are turning their commitment into action. The new category the pivotal role that gender equality and women’s empowerment play in driving innovation, growth, and prosperity. As an IWC signatory, 25% of our investment is in women-led businesses and we are committed to growing that 🤝. Our angel members are also diversifying both the shareholder base and the boards of companies we invest in. Lynne Cadenhead | Moray Martin | Susan Arnold | Kathy Kinder

Our CEO Moray Martin is in The Scotsman today talking about the tax benefits of EIS and SEIS investing, with a particular focus on inheritance tax following the changes announced in the Budget. The latest HMRC statistics show that the Treasury raised £4.3 billion from IHT in the first half of this financial year – up by 10.3% compared to the same period the year before. As a result, a growing number of people are looking to angel investing as part of their tax management strategy. "While I am not suggesting that paying tax isn’t fun, many find that putting their money to work for the next generation of businesses is a little more exhilarating...and, of course, there is the potential of an upside." Read more here 👇

TRICAPITAL Angels Limited turns 20 today… On November 11th, 2004, a visionary group from the Borders region founded TriCapital Limited to strengthen the local economy and drive job creation. Today, we celebrate the 20th anniversary of that founding—Happy Birthday TRICAPITAL Angels Limited! This milestone is an opportunity to honor the passion, resilience, and ambition of the founding members, some of whom are still with us today. We extend heartfelt thanks to them, and to every member, past and present, for laying such a solid foundation. Each of you has added your own unique "brick" to build the TRICAPITAL legacy—many of you, more than one. Over the years, as with all growing organisations, TRICAPITAL has faced some challenges. Today, however, we stand strong as a distinctive Scottish angel syndicate, with an expanding international membership dedicated to providing both financial backing and critical expertise to early-stage, innovative companies across Scotland. Our 20th year has been our most successful yet, with even more exciting developments on the horizon.

🎥 Did you spot our latest investment HonuWorx leading the BBC News last night? The Aberdeen-based company plans to dramatically slash costs and emissions for offshore repair and inspection work through its fleet of autonomous, all-electric submarines. The firm’s chief executive Lee Wilson was on Reporting Scotland following confirmation that Great British Energy will be headquartered in the North-east. Lee discussed the importance of a managed #energytransition and how HonuWorx’s all-electric and autonomous Loggerhead technology is poised to serve both the offshore wind and oil and gas markets. Moray Martin | Malcolm McMaster | Lynne Cadenhead | Andy Purves | Kathy Kinder | Susan Arnold

We are proud signatories to the the Investing in Women Code (IWC), which is leading the way in addressing the gender finance gap. Its latest report today shows an improving landscape for female-founded companies across the UK. You can read the report here: https://lnkd.in/eGUd9Exq As an IWC signatory, 25% of our investment is in women-led businesses and we are committed to growing that 🤝. Our angel members are also diversifying both the shareholder base and the boards of companies we invest in.