EQUITY Gap, the Scottish investment syndicate, has reported that it completed 22 investments in the first half of 2020.

The syndicate also reaches a milestone as members have now invested more than £20 million since its inception 10 years ago.

It also said it sees a key role for business angels in the economic recovery after coronavirus and added it has a healthy pipeline of new deals. It said it “met the challenge of Covid-19 head on”.

READ MORE: Aberdeen firm in drive to bring electric vehicle charging to people without driveways

In June, it added Aberdeen-based green tech start-up, Trojan Energy, to its portfolio as it secured a £4.1m round of seed funding to support the roll-out of its on-street flat and flush electric vehicle charging points.

Having grown from 15 to 150 members, its portfolio of over 30 early stage start-ups has created over 400 jobs, primarily in Scotland, across a range of sectors including consumer product, food and drink, life science and SaaS.

However, the directors believe “entrepreneurs and new businesses must play a significant part in rebooting the economy by creating employment opportunities, fuelling growth and driving future prosperity” amid recession.

Jock Millican, founder and director of Edinburgh-based Equity Gap, said the syndicate “worked hard to ensure continuity of business and investment through an unsettling time”.