Former Baillie Gifford chief joins board of Scots investment syndicate

Richard Burns, the former joint senior partner and chief investment officer at Edinburgh-based Baillie Gifford, has been appointed to the TriCapital board as a non-executive director.

During his 33-year career at Baillie Gifford, Burns helped oversee the firm’s transformation into one of Europe’s top investment houses, championing the long-term investment philosophy that has since become synonymous with the capital fund manager. He will be joined on the new-look TriCapital board by ocean technology entrepreneur and investor Mogens Mathieson, who has taken on an expanded role as group director for strategy and international development.

TriCapital was founded in 2004, originally as Tweed Renaissance Investors Capital, in the Scottish Borders. Over the past 24 months, the syndicate has completed more than 30 investments, with member funding leveraged alongside Scottish Enterprise backing to unlock more than £40 million of investment into growing Scottish businesses, supporting hundreds of jobs.

Moray Martin, chief executive at TriCapital Angels, said: “Richard is one of the most respected figures in Scottish investment management and someone whose judgement has been shaped by decades of backing ambitious businesses over the long term. Throughout his career he has demonstrated the importance of patience, conviction and supporting exceptional management teams. Those are values which align perfectly with our own investment philosophy.

“As we continue to grow TriCapital Angels and support an increasing number of ambitious Scottish businesses, Richard’s experience, strategic insight and governance expertise will be invaluable. We are absolutely delighted to welcome him to the board.”

Burns said: “TriCapital Angels has established a strong reputation for identifying promising businesses and providing the capital and strategic support they need to grow.

“Scotland has no shortage of entrepreneurial talent or innovative companies with global potential. I look forward to working with the team as they continue to help ambitious businesses scale and create long-term value.”

The investment syndicate has built a diverse portfolio across technology, energy transition, engineering and industrial innovation.

In May, it emerged that TriCapital had completed investments in three businesses. The latest deals involved £506,000 of backing for subsea robotics specialist HonuWorx, £430,000 for sustainable seaweed business Kaly and £620,000 for low-carbon insulation manufacturer Sisaltech.

Recent portfolio successes have included HonuWorx securing its first Nato contract through the defence innovation accelerator for the North Atlantic programme, while Sisaltech continues to scale production of natural fibre insulation products and Kaly expands its island-based seaweed supply chain.

Martin added: “Across each of these investments there is a common thread - backing ambitious businesses developing practical solutions to major global challenges.

“We are seeing increasing quality and ambition from founders across Scotland, particularly in sectors where the country has genuine industrial strengths and global relevance. The momentum we have built over the last two and a half years reflects both the confidence of our members and the strength of the opportunities coming through the pipeline.”

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