ARCHANGELS, the Edinburgh-based investment syndicate, has delivered a record £17.3 million investment in 2017.

The group, which celebrated its 25th anniversary this year, invested £11.2m from its own investors, backed by £6.1m of funding form the Scottish Investment Bank.

The largest single investment in 2017 was £3.6m in ZoneFox, the cyber security business.

Total cash returned to investors during the year was £4.2m through dividends and an escrow release of funds from a previous sale.

There were no exits from the portfolio in 2017.