TRICAPITAL Angels Limited

🤝 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.

TRICAPITAL Angels has completed a significant investment into a company developing underwater robotics to revolutionise operations in the energy and security sectors. Aberdeen-based HonuWorx plans to dramatically slash costs and emissions for offshore repair and inspection work through its fleet of autonomous, all-electric submarines. The seven-figure investment was led by TRICAPITAL Angels along with Scottish Enterprise and an existing investor, the UK Innovation & Science Seed Fund, which has invested for a second time. HonuWorx plans to treble its current headcount within the next three years while targeting more than £30million in additional investment to support its growth plans. Read more here: https://lnkd.in/eMmYyyuU Or check out some of the deal media coverage: 📰P&J: https://lnkd.in/eQ525uRG 📰The Herald: https://lnkd.in/eGpviAVx 📰Energy Voice: https://lnkd.in/eQiwQG2n 📰Offshore Energy: https://lnkd.in/dQbZiinH 📰Scottish Financial News: https://lnkd.in/ewdV8efB 📰Marine Technology News: https://lnkd.in/eW8KEwaJ 📰Aberdeen Business News: https://lnkd.in/e3sQWB65 📰High Growth Scotland: https://lnkd.in/e4JWZGDs 📰Energy-Pedia: https://lnkd.in/eqb2Djwa 📰Digit.FYI: https://lnkd.in/eriS8DnZ Moray Martin | Malcolm McMaster | Lynne Cadenhead | Lee Wilson | Steven Gray | Kathy Kinder | Susan Arnold | Andy Purves

We are pleased to announce that TRICAPITAL Angels has been selected as an Investor Partner for the Innovate UK Future Economy Investor Partnership Programme. By working together with Innovate UK we will align grant funding, equity investment and commercial expertise to support innovative deep-tech Scottish companies to accelerate their growth and scale-up ambitions. Through this unique opportunity, investment from TRICAPITAL can leverage up to £900,000 grant support for companies undertaking feasibility studies, industrial research and experimental development in the Innovate UK Future Economy areas of Net Zero, Healthy Living and Agriculture, Digital and Technologies, and Equality, Diversity and Inclusion. If you would like to discuss an Investor Partnership grant application for your company, please contact us at innovate@tricapital.co.uk Lynne Cadenhead #InnovateUK #TRICAPITAL #GrantFunding #Funding #ScottishBusiness

🏆 BEST IN SHOW 🏆 We've only gone and ruddy done it. Well done to Ben Calver and Joseph Twigg for showcasing all that Aveni has to offer in the 'Battle of the Tech' demos. What an excellent way to round off a fantastic and insightful #AIFA24