Scotland-based legal services provider Anderson Strathern has launched an investment vehicle called AS Capital.
AS Capital will focus on the energy and renewable energy sectors and expects to conduct several deals alongside syndicate Equity Gap.
The unit has concluded its inaugural deal, a co-investment with Equity Gap, in Synaptech, a Scotland-based fibre network sensor developer spun out of University of Strathclyde. The size of the investment has not been disclosed.
Synaptec designs and develops photonic sensing systems that enable electricity network operators to analyse the electrical, mechanical and environmental state of their systems and networks.The company’s technology utilises existing optical fibre networks to measure a range of parameters, such as voltage, current, temperature and vibration.
In May 2019, the company raised $3.7m in a funding round led by led by Foresight Williams Technology EIS fund with participation from the Scottish Investment Bank, University of Strathclyde and Equity Gap.
Scottish Investment Bank, University of Strathclyde and Equity Gap had also invested $493,000 in seed funding in 2016.
Bruce Farquhar, chairman of Anderson Strathern, said: “We are keen to promote ambitious high-growth companies and our involvement as an investor will lead to both the possibility of capital gains on exit while, just as importantly, enhancing our ability to advise on investment transactions for other companies.
“The energy and renewables sectors are areas of particular strength at Anderson Strathern and we are excited about Synaptec’s market credentials, outlook and next phase of growth.
“We know the Equity Gap team well, have worked alongside them for a number of years and are really pleased to have formally joined the syndicate. We already have a number of other deals which we are actively considering.”