Scotland’s angel investment association, Angel Capital Scotland (ACS), has appointed Margaret Morton as its first CEO. The appointment signals a new chapter for Scotland’s business angel community, which has emerged as one of the world’s most developed angel investment markets.
Morton brings over three decades of leadership experience across private, public, and not-for-profit sectors to the role. A qualified lawyer who rose to partner with Tods Murray before transitioning to senior executive roles with Barnardos, Inspiring Scotland, and the Royal Society of Edinburgh, she has also held various senior positions at the University of Glasgow, including as chief of staff in the College of Medical, Veterinary and Life Sciences.
World-Leading Angel Investment Network
Scotland boasts one of the world’s most developed angel investment networks, comprising around 2,000 individual investors across 15-20 angel groups. LINC Scotland helped establish the world’s first public sector/business angel co-investment model with Scottish Enterprise in 2004, and today most angel groups in Scotland operate as co-investment partners, helping portfolio companies access matched funding.
According to data from ACS, deals led by its business angel members unlocked private sector investment of £106.4 million across 91 investments in the year ending March 2025 and leveraged £25.6 million of public sector investment, demonstrating the significant economic impact of Scotland’s angel investment ecosystem.
Strategic Vision for Growth
Margaret Morton, Chief Executive of Angel Capital Scotland, outlined her vision for the organisation:
“Angel Capital Scotland represents the natural evolution of Scotland’s business angel ecosystem. The foundations laid by LINC Scotland have created a thriving angel investment community that punches well above its weight on the global stage. Our role now is to build on this success and provide a voice for this community in an evolving regulatory environment, ensuring Scottish high-growth companies continue to access the capital they need while attracting fresh investment talent to our market.”
Independent Operations and Strategic Priorities
ACS will operate as an independent, member-focused organisation following the conclusion of European funding, with Young Company Finance Scotland ownership also transferring to ACS. The organisation plans to champion five strategic priorities: advocacy with governments and regulators including HMRC; market development to attract new high net-worth individuals; global positioning of Scotland’s angel ecosystem through established international networks; enhanced data intelligence through collaboration with the University of Strathclyde and Young Company Finance to support lobbying activities; and securing the resources necessary to build medium-term sustainability.
Leadership Endorsement
Jock Millican, Chairman of Angel Capital Scotland, praised the appointment:
“Margaret brings exactly the right combination of strategic vision and operational expertise that Angel Capital Scotland needs at this crucial juncture. Her proven track record across multiple sectors, combined with her values-based leadership approach, positions her perfectly to champion our members’ interests while driving the continued evolution of Scotland’s angel investment ecosystem. We’re excited to work with her as we build on LINC’s impressive legacy.”
Building on Strong Foundations
The appointment comes at a pivotal time as ACS looks to build upon the substantial legacy established by LINC Scotland. The transition represents not just an organisational change but the evolution of Scotland’s angel investment community into a more independent and strategically focused entity.
Morton’s diverse background spanning legal practice, charitable sector leadership, academic administration, and strategic roles across multiple industries positions her to navigate the complex landscape facing angel investors, from regulatory changes to market development challenges.
The establishment of ACS as an independent organisation marks a significant milestone in the development of Scotland’s investment ecosystem, providing a dedicated voice for angel investors whilst maintaining the collaborative approach that has made Scotland’s model internationally recognised and replicated.
