Archangel Investors has commissioned a study to look at the economic impact the group has had since it first began backing businesses in 1992.
Academics Niall MacKenzie and Margaret Coughtrie, from the Hunter Centre for Entrepreneurship at Strathclyde University, will examine areas including job creation, revenue generation, profits and the overall gross value added to the economy.
Entrepreneurs Mike Rutterford and Barry Sealey set up Archangels with an initial investment in the business which would eventually become retinal imaging company Optos, which recently agreed to be sold to Nikon for £259m.
The investor group now has more than 70 members and has backed 80 companies through various funding rounds.
Mr MacKenzie said: "Early stage investment is of fundamental importance to helping companies grow and realise their potential.
"To this end Archangels has played a critical role in developing some of Scotland's brightest companies and entrepreneurial culture and the Hunter Centre are delighted to engage with them on such an important subject."
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