How many investments has Equity Gap made?

Equity Gap has 45 tracked investments, including 1 dated in the last 24 months.

What stage does Equity Gap invest at?

Equity Gap invests at the Pre-Seed, Seed, Series A stages.

What is Equity Gap's typical check size?

Equity Gap typically writes checks of $6.5K – $32.5K.

What sectors does Equity Gap focus on?

Equity Gap focuses on Advanced Manufacturing, Healthtech, SaaS, Sector Agnostic.

Where is Equity Gap located?

Equity Gap is headquartered in Edinburgh, GB.

Does Equity Gap lead rounds?

Equity Gap has led 3 of the 16 rounds where its role is on record.

Who does Equity Gap co-invest with?

Equity Gap most often shares deals with Apollo Informal Investment, Ascension, Republic Ventures, among 26 tracked co-investors.

Equity Gap

Angel network

Edinburgh · Pre-Seed–Series A · 8 people tracked

★ Follow + Add to CRM ⤳ Find an introduction

Find your way into Equity Gap

Each arrow is one introduction. Sign up to fill in the first one.

409 people can intro you to Alex

Ask David Ovens to introduce you to Alex Lusty

You →David · together at Angel Capital Scotland →Alex

397 people can intro you to Rhona

Ask Jamie Chen to introduce you to Rhona Bree

You →Jamie · together at Bank of Scotland →Rhona

223 people can intro you to Dave

Ask Sam Okafor to introduce you to Dave Pratt

You →Sam · together at Vector Photonics →Dave

Jock Millican135 people can intro you
Julie Foster126 people can intro you
Fraser Lusty69 people can intro you

Your email: who you already know at Equity Gap, and who your contacts know
2nd- and 3rd-degree connections: people you know who worked, studied or invested with the Equity Gap team
Your LinkedIn: the connections who can make the intro for you

We rank every route by how warm it is, so you raise on warm intros instead of cold emails.

✨ Fox Verdict

Investment thesis

Equity Gap is an angel investment syndicate based in Edinburgh that matches its members with early-stage entrepreneurs seeking funding, primarily in Scotland. It emphasises making angel investing accessible and enjoyable through collaboration, a peer network and centralised administration, and supports prospective companies with access to its knowledge base and pitching guidance. Its portfolio spans over 30 companies across sectors including consumer products, food and drink, life sciences and SaaS, and members have helped leverage significant total investment while supporting job creation in Scotland.

Invests inAdvanced Manufacturing Healthtech SaaSSector AgnosticEdinburgh United Kingdom

Source: firm website, verified Aug 3, 2026.

Leave your own feedback

Stage

Pre-Seed–Series A

Check

$6.5K – $32.5K

Edinburgh, GB

Instruments

Equity

Founded

2010

Tracked investments

Team · 8 people

from the firm's website

Jock Millican· Founder and Non-Executive Chair· Edinburgh, Scotland, United Kingdomin

Founded Equity Gap in 2010 after a business career primarily in brewing. A former Scotland rugby international, he is a Court Assessor at Edinburgh University and chair of LINC Scotland, the national angel capital association.

Fraser Lusty· Investment Director· Greater Edinburgh Areain

Joined Equity Gap in 2011 and became a director in 2014, bringing over 30 years of experience helping Scottish businesses and entrepreneurs. He has led angel investor skill-building programmes in Canada and the Middle East and is an ambassador with Women's Enterprise Scotland.

Rhona Bree· Senior Investment and Portfolio Manager· Greater Glasgow Areain

Joined Equity Gap in April 2023 with over 10 years' experience managing early-stage company portfolios at Scottish Enterprise. A Chartered Accountant trained at PwC, she previously spent eight years in Bank of Scotland's infrastructure and private equity investment teams.

Alex Lusty· Head of Operations and Compliance· Greater Edinburgh Areain

With Equity Gap since 2019, she leads operations and compliance projects and works on strategic initiatives across the angel investment industry, drawing on experience in financial services strategy, solution design and programme management.

Dave Pratt· Investment Consultant· Greater Glasgow Areain

Joined Equity Gap in 2022 to support portfolio company management and deal execution. Previously CEO of a science-based investment business with senior executive roles in defence and energy, he has led a university spin-out to IPO and serves as chairman and non-executive director for several companies.

Jennifer Nicoll· Non-Executive Director

A Chartered Accountant with experience across finance, fundraising and operations, she brings a commercial, hands-on approach to scaling early-stage businesses and is a committed mentor and champion for female founders in Scotland.

Julie Foster· Finance Manager· Greater Edinburgh Areain

Equity Gap's first employee, joining as Business and Finance Manager in 2018 after senior finance and administration roles at organisations including Edinburgh Chamber of Commerce.

Rachel Jones· Non-Executive Director

CEO and founder of SnapDragon Monitoring Ltd and interim chair of the IP Crime Group Board, she brings a founder's fundraising perspective to guide Equity Gap's investment direction.

What they invest in

from 21 of 45 portfolio companies

Hardware ×7Consumer ×6FoodTech ×6SaaS ×5Enterprise Software ×4Biotech ×3Cleantech ×3Deep Tech ×3

HQs:United Kingdom×15United States×1

Who they back

founder profiles across 8 portfolio companies

63%

solo founders

5 of 8 mapped founding teams

Founding team size:solo founder×52 founders×3

Investments · 45 tracked

founders shown can be your intro path

By year:2025 · 1 2024 · 2 2022 · 1 2021 · 1 2020 · 3 2019 · 19 dated

613003fca.org.uk in 𝕏

This page is UK Financial Conduct Authority consumer guidance explaining how crypto investment scams work, how to spot warning signs, and how to report fraud.

FintechGovTech

Co-investorsAI Seed Deepbridge Capital Fuel Ventures QVentures Republic Ventures SFC Capital +4 more

Appointeddappointedd.com in

Appointedd provides online booking and scheduling software, offering appointment and calendar management with integrations for businesses including leading retail brands.

Enterprise SoftwareMarketing TechRetail TechSaaSLondon, GB

Co-investorsApollo Informal Investment

Bellfield Brewerybellfieldbrewery.com 𝕏Jan 2020

Bellfield Brewery is an independent Edinburgh craft brewery producing certified gluten-free and vegan beers, including IPAs, hoppy ales, lagers, and pilsners.

ConsumerDirect to ConsumerE-commerceFoodTechEdinburgh, GB

Co-investorsScottish Investment Bank

Brewgooderbrewgooder.com in

Brewgooder produces session pale ale that directs a portion of sales proceeds to community projects through its associated foundation.

ConsumerDirect to ConsumerFoodTechImpact & Social GoodGlasgow, GB

Alan Mahon(Founder)inJames Hughes(Founder)in

Co-investorsThe FSE Group

Cytochromacytochroma.org in

Cytochroma provides genetically diverse iPSC-derived human cell models, high-throughput screening, and phenotypic data (branded "Wet AI") for drug discovery and preclinical validation.

AI & Machine LearningBiotechDeep TechEdinburgh, GB

Co-investorsAngel Academe Scottish Enterprise VentureLink LP

EBarebar.co.uk in 𝕏Oct 2022

EBar develops a patented pressure pour system for hospitality venues, providing beverage dispensing technology that improves speed and reliability in bars, pubs, and event spaces.

HardwareRetail TechRobotics

Nick Beeson(Managing Director)in

Co-investorsJenson Ventures Gabriel Investment Syndicate Seedrs

G-holdg-hold.com in 𝕏

G-Hold designs patented ergonomic tablet and phone holders, screen risers, and work-from-home kits that reduce hand and wrist strain when using mobile devices.

ConsumerE-commerceHardware

Alison Grieve(Founder)in

Co-investorsInvesting Women Angels

Gut Wealthgutwealth.co.uk in

Gut Wealth produces Water Wealth Daily Electrolyte, a hydration supplement powder designed to provide daily electrolytes and vitamins for consumers seeking improved hydration support.

ConsumerDirect to ConsumerHealthtechWellness & Fitness

Co-investorsApollo Informal Investment Scottish Enterprise

Insigniatechnologiesinsigniatechnologies.com in

Insignia Technologies develops products using patented colour-changing inks and films that provide real-time visual indicators for applications such as patient safety and food waste reduction.

FoodTechMedical DevicesNew MaterialsBioCity Scotland, GB

Dr Graham Skinner(CEO)

Co-investors24 Haymarket

Lentiteklentitek.com inMar 2025

Lentitek develops an alternative lentiviral vector production platform based on novel synthetic promoter technology, aimed at improving quality and yield in CAR-T manufacture and enabling in-vivo and armoured CAR applications.

BiotechDeep TechHealthtechMedical DevicesEdinburgh, GB

Adam Inche(Founder)inLeif(Co-founder / Board member)John Counsell(Chief Scientific Officer)in

Co-investorsApollo Informal Investment

MiAlgaemialgae.com inJan 2020

MiAlgae uses whisky distillation by-products to grow microalgae rich in marine Omega 3s, offering a plant-based, low-carbon alternative to fish oil.

AgTechBiotechFoodTech

Douglas Martin(Founder & CEO)in Shreekanth Ramananthan(Technical Director)in

Co-investorsAscension Conduit Connect Rabo Corporate Venturing Ascension Ventures Blue Ocean Capital Group Clay Capital +1 more

Mocean Energymocean.energy inNov 2020

Mocean develops offshore renewable power systems that combine wave, solar, and energy storage to deliver clean electricity for subsea assets, serving operators in offshore energy and carbon capture and storage (CCS) sectors.

CleantechClimate TechEnergyEdinburgh

James Cameron McNatt(Director)Andrew Coleman(Director)

BoardChristopher Heinz Retzler(Director)Torger Skillingstad(Director)Iain Sinclair(Director)Lynne Ross(Director)

Co-investorsInnovate UK Old College Capital Scottish Investment Bank

Pickprotectionpickprotection.com

Assure Fire and Security is a family-run installer of intruder alarms, CCTV, and fire safety systems for business customers.

HardwareIoT

Qikserveqikserve.com 𝕏

QikServe provides a digital ordering system for hospitality businesses, combining mobile ordering, order & pay, self-ordering kiosks, pay at table, and integrated EPoS.

E-commerceFoodTechRetail TechSaaS

Daniel Rodgers(Founder)in

Shot Scopeshotscope.com in 𝕏Jul 2024 · $8.5M

Shotscope sells GPS watches, handhelds, launch monitors, and laser rangefinders for golfers to track their game and improve performance.

ConsumerHardwareIoTSports Tech

Co-investorsGuinness Ventures The SidebySide Partnership Growthdeck Old College Capital Scottish Enterprise Scottish Investment Bank

Spoonfedgetspoonfed.com in 𝕏Feb 2019

Spoonfed provides catering management software with online ordering and back-office tools for independent caterers, food service operators, and multi-location workplace catering businesses.

Enterprise SoftwareFoodTechSaaSGlasgow, GB

Sunampsunamp.com

Sunamp designs and manufactures compact thermal energy storage systems, including heat batteries and phase change materials, for homes, commercial buildings and industry to store heat and reduce energy use and carbon emissions.

CleantechEnergyHardware

Co-investorsScottish National Investment Bank

Synaptecsynapt.ec inFeb 2024

Synaptec develops sensor technology and solutions for the power sector.

CleantechEnergyHardware

Dr Philip Orr(Chief Executive Officer)Dr Neil Gordon(Chief Technology Officer)Stephen Allan(Chief Operations & Finance Officer)in

Co-investorsElewit Foresight Canada Scottish Enterprise

Vector Photonicsvectorphotonics.co.uk inApr 2021

Vector Photonics develops PCSELs (photonic crystal surface-emitting lasers), a type of semiconductor surface-emitting laser designed to be lower cost and easier to integrate than conventional lasers.

Deep TechHardwareSemiconductorsGlasgow, GB

Dr Richard J E Taylor(Founder)in

Co-investorsClean Growth Fund Future Planet Capital UK Innovation & Science Seed Fund Foresight Canada Foresight Group Scottish Enterprise

Welcomeexperiencewelcome.com in 𝕏Defunct

Welcome provides a platform for building immersive virtual events with polished production quality comparable to major technology presentations.

Enterprise SoftwareSaaSSan Francisco, US

John Keh(Founder/CEO)in Roberto Ortiz(Founder)in Tiger Shen(Founder)in Jerry Shen(Founder)in

Co-investorsITERATIVE Ulu Ventures Y Combinator Abstract Ventures Accel Gaingels +4 more

WelcoMewel-co.me in

WelcoMe develops a digital accessibility profile system that enables disabled customers to share their access preferences with venues and services in advance, replacing in-the-moment discovery with proactive staff preparation through briefing cards.

ConsumerEnterprise SoftwareHealthtechImpact & Social GoodSaaS

Other

Tracked investments with no reachable website or further public details — typically companies that wound down, renamed, or were absorbed.

Amiqus ResolutionBoxergyBumblebee PowerE-bar initiativesEnterbiotixGlobalbridgeHydrosenseIlostaInsignia TechnologiesInterpacLending CrowdMask LogicMI:RNAMy 1 Login LtdMy Smash MediaNeurocentrxPneumagenPneumowaveQuickblockSharktowerThe Bettii PodTrickleULEMCoZoex Power

Frequently asked questions

How many investments has Equity Gap made?: Equity Gap has 45 tracked investments, including 1 dated in the last 24 months.
What stage does Equity Gap invest at?: Equity Gap invests at the Pre-Seed, Seed, Series A stages.
What is Equity Gap's typical check size?: Equity Gap typically writes checks of $6.5K – $32.5K.
What sectors does Equity Gap focus on?: Equity Gap focuses on Advanced Manufacturing, Healthtech, SaaS, Sector Agnostic.
Where is Equity Gap located?: Equity Gap is headquartered in Edinburgh, GB.
Does Equity Gap lead rounds?: Equity Gap has led 3 of the 16 rounds where its role is on record.
Who does Equity Gap co-invest with?: Equity Gap most often shares deals with Apollo Informal Investment, Ascension, Republic Ventures, among 26 tracked co-investors.

Images

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