Angel Capital Scotland (ACS) has unveiled a refreshed board lineup and announced the appointment of Archangels’ joint managing director Niki McKenzie as its new chair.

Coming on the heels of Margaret Morton’s appointment as ACS’s first CEO last September, the new board brings together figures from angel investment, entrepreneurship, and economic research, who ACS said will help deliver the organisation’s strategy over the coming years.

Acting as chair, McKenzie brings over fourteen years of experience with Archangels, as well as sixteen years in banking and structured finance with KPMG and Lloyds Banking Group, and as a chartered accountant, has overseen investments across Scotland’s technology and life sciences sectors, guiding portfolio companies.

“I’m honoured to take on the role of Chair at such an exciting time for Angel Capital Scotland,” said McKenzie. 

“Scotland’s angel investment community has built a world-class reputation, but we need to do more to articulate the impact of our ecosystem and continue to attract new investors.

“With Margaret’s leadership and this exceptional board, we’re well-positioned to demonstrate the vital role angel investment plays in Scotland’s economy and to ensure our high-growth companies continue to access the capital they need to scale.”

Joining McKenzie on the board are Lynne Cadenhead, COO at TRICAPITAL Angels and chair of Women’s Enterprise Scotland, along with Fraser Lusty, MD at Equity Gap, and Professor Niall MacKenzie, head of the Hunter Centre for Entrepreneurship at Strathclyde University.

ACS said that bringing together this wealth of experience marks a significant milestone in the organisation’s evolution as the national association for business angels in Scotland, strengthening its ability to advocate for member interests, promote early-stage investment, and attract new investors.

“This board brings together deep expertise across angel investment, entrepreneurship, and economic research,” said ACS CEO Margaret Morton. “Their collective experience will be invaluable as we work to strengthen Scotland’s position as a leading angel investment market.”

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Scotland boasts one of the world’s most developed angel investment networks, made up of around 2,000 individual investors spread across multiple angel groups. ACS claims that its members and partners invest over £100 million annually in Scotland’s early-stage companies, supporting the creation of more than 2000 new jobs every year.

In the financial year ending March 2025, ACS said that deals led by its members unlocked private sector investment of £106.4 million across 91 investments, leveraging £25.6 million of public sector investment to a total of £132 million.