Equity Gap | Portfolio & Investments

About Equity Gap

Operating out of the United Kingdom, Equity Gap is a venture capital firm. Our dataset covers 62 investments involving Equity Gap.

Recorded deals span Software & Developer Tools; Energy, Environment & Mobility; Healthcare & Life Sciences and Energy. Coverage extends to 8 sectors in total. Participation spans Pre-Seed, Seed and Series A rounds.

Equity Gap is an angel investment syndicate based in Edinburgh that focuses on early-stage business funding. They invest in innovative, high-growth potential companies led by founders who welcome the opportunity to work with investors.

Investment Focus

Stage Focus

pre-seedseedseries-a

Sectors

Software & Developer ToolsEnergy, Environment & MobilityHealthcare & Life SciencesenergysustainabilityiotdeeptechPharmaceutical Development

Investment Thesis

Equity Gap is an angel investment syndicate based in Edinburgh that focuses on early-stage business funding. They invest in innovative, high-growth potential companies led by founders who welcome the opportunity to work with investors.

Equity Gap Portfolio Companies

24 of 38 tracked holdings.

Full portfolio →

Portfolio outcomes

40 active2 acquired4.4% exit rate

Team

Fraser LustyManaging Director

Joined Equity Gap in 2011 and became a director in 2014. He has over 30 years’ experience in helping Scottish businesses and entrepreneurs build commercial capability.

Jock MillicanFounder and Non-Executive Chair

Started Equity Gap in 2010 following a successful business career, primarily in brewing. His vision of helping Scottish start-ups has evolved into a portfolio of over 30 companies and over 150 active investors.

Rhona BreeSenior Investment and Portfolio Manager

Joined the expanding Equity Gap team in April 2023 as a Senior Investment and Portfolio Manager bringing with her a deep understanding of the early-stage investment market.

Alex LustyHead of Operations and Compliance

Has been with Equity Gap since 2019 as Head of Operations and, more recently, Compliance leading key projects.

Julie FosterFinance Manager

Equity Gap’s first employee, joining as Business and Finance Manager in 2018.

Dave PrattInvestment Consultant

Joined Equity Gap in 2022 to support the management of portfolio companies and deal execution. Previously he was CEO of a science-based investment business.

Rachel JonesNon-Executive Director

Is Head Dragon [CEO and Founder] of SnapDragon Monitoring Ltd, Interim Chair of the IP Crime Group [Partnership] Board, and a member of the EUIPO’s SME Task Force.

Jennifer (Jen) NicollNon-Executive Director

Is a Chartered Accountant with extensive experience spanning finance, fundraising and operations, Jen brings a strong commercial lens paired with a hands-on, pragmatic approach to scaling early-stage businesses.