University of St Andrews alumni-led group is encouraging tech ventures to apply for funding from New York and global investors
An alumni-led angel investment network, which already has a base in London, has expanded into New York to help facilitate deal flow between the University of St Andrews and other Scottish businesses and the Big Apple.
The St Andrews Angels are led by a group of seasoned entrepeneurs, business leaders, alumni and faculty within the NYC area who plan to facilitate deal flow between the Fife university and its global network, as well as providing investment capital, strategic advice and mentoring to early-stage businesses.
They plan to grow the university’s economic base, community and New York-based investors and support early stage ventures as they gain US access and market share, providing the opportunity for members to achieve an above average financial return on their investments.
Interim-chairman and co-founder Andrew Romero, along with an experienced board of directors and staff, have worked over the past year to establish the network and are optimistic that it will become a significant contribution to the global entrepreneurial ecosystem.
The group says it also wants to serve as a conduit for broader Scottish based ventures eyeing access to US based investors.
Relevant early stage ventures within the technology and science sectors are already encouraged to apply for funding and deals are expected to range between $100k and $2 million, but may be larger through syndication.
The University of St Andrews – Scotland’s oldest university – has a rich entrepreneurial history spanning the globe.
Edinburgh-based husband and wife duo – and former students, Lesley and Nigel Eccles, for example, co-founded fantasy sports giant FanDuel.
London-based Damian Kimmelman co-founded DueDil and was named International Entrepreneur of Year at the inaugural Tech City News Hall of Fame awards in June 2014.
And San Francisco-based Japser Platz is a founder of FinTech start-up Tally, which closed a $15 million series A round in May 2016, led by Sasha Ventures.
St Andrews has also produced a rich collection of innovative spin-out companies, such as Xelect Ltd, which provides specialist genetics support to the aquaculture industry and is led by world renowned Professor Ian Johnston.
Xelect closed a £170k seed round led by EOS Technology Investment Syndicate earlier this year.
EOS Technology Investment Syndicate – based in St Andrews – was founded by serial entrepreneur and St Andrews alumnus Kevin Grainger.
Its syndicate manager, Matthew Leonard, a University of St Andrews student who was recognised in Scottish Business News Network’s (SBNN) 40Under40 2016 cohort, is also a co-founder of the St Andrews Angels.