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Anderson Strathern launches investment arm AS Capital

Posted: 3rd July 2019

-Anderson Strathern joins angel syndicate Equity Gap and makes first investment in Scottish high growth company Synaptec, says “more investments in the pipeline”

-Bruce Farquhar: “We are an innovative legal firm and our move into early stage investment is consistent with this approach”

-Jock Millican: “Anderson Strathern has a strong reputation in corporate dealmaking, with a keen understanding of the SME sector in Scotland, so we see this as a natural fit for Equity Gap and our portfolio”

Edinburgh, Glasgow, 1 July 2019 – Scottish legal firm Anderson Strathern has joined angel syndicate Equity Gap and made its first investment in Glasgow-headquartered Energy sector instrumentation specialist Synaptec.  Anderson Strathern’s new investment vehicle, AS Capital, plans to make further investments alongside Equity Gap, the Edinburgh-headquartered angel firm that has led total investments of approximately £50 million since being founded in 2010.

Left to right are Jock Millican of Equity Gap and Bruce Farquhar of Anderson Strathern by Stewart Attwood

Anderson Strathern’s Chair, Bruce Farquhar, said: “We are an innovative legal firm having advised high growth companies over the years on their various funding rounds and our move now into early stage investment is an exciting next step.  We are keen to promote ambitious high-growth companies and our involvement as an investor will lead to both the possibility of capital gains on exit while, just as importantly, enhancing our ability to advise on investment transactions for other companies.”

“The energy and renewables sectors are areas of particular strength at Anderson Strathern and we’re excited about Synaptec’s market credentials, outlook and next phase of growth. We know the Equity Gap team well, have worked alongside them for a number of years and are really pleased to have formally joined the syndicate. We already have a number of other deals which we are actively considering.”

Jock Millican, Director at Equity Gap and Chairman of LINC Scotland, said: “Anderson Strathern has a strong reputation in corporate dealmaking, with a keen understanding of the SME sector in Scotland. We were delighted when they approached us with a view to participating in Equity Gap syndicate investments. As far as I am aware, there is no other law firm in Scotland investing in angel syndicate deals of this type and it is great to see a firm of lawyers being willing to promote high growth Scottish companies in this way.  We see this as a natural fit for Equity Gap, our members and our portfolio. ”

Synaptec recently secured second-round funding of £2.9 led by Foresight Williams Technology EIS fund, Equity Gap, the Scottish Investment Bank and the University of Strathclyde as the company plans to scale-up production, grow international sales and further develop its data analytics capability.

Synaptec counts a number of major utilities among its customer base and the company’s Founder and Managing Director Philip Orr has said that the investment reflects “the drive of the Scottish Government to make Scotland a global player in the energy sector.”  He added: “The commitment shown by all of our investors has been overwhelming and represents an exciting new phase of growth and development for Synaptec that will enable us to make a positive and lasting impact on the global energy transition.”

In December, Anderson Strathern reported increased turnover to £22.8 million for the year to 31st August 2018 [2017: £21.5M] while reporting profits up by 10 per cent.

 

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