Irish Angel Investments Set to Increase

As part of Business Angel Week, Halo Business Angel Network (HBAN), the all-island group responsible for the promotion of business angel investment in Ireland, has announced plans to increase the amount invested in Irish start-ups by HBAN angels to €25 million per year by 2020. This will see HBAN increasing angel investment by 17 per cent every year for the next four years.

A key focus will be the ICT, medtech and health sectors, which are attractive sectors for angel investment. Combined, these sectors attracted over €8.7 million out of the total €13.6 million in angel funding invested in 2016. The ICT sector saw 26 investments made, which accounted for the majority of investments, with just under €4.5 million invested by HBAN angels. The average angel investment was €172,000 per ICT deal.

The medtech sector meanwhile secured over €4.1 million angel investment last year, in seven deals, with the average investment – €585,000 per deal – being more than three times the average ICT deal size.

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HBAN is actively recruiting business angels and aims to double the numbers of active Irish angels in the next four years. There are now six syndicates operating in Ireland and four recently established international investment groups. New angels now have a wide choice of syndicate options, or they can opt to join HBAN’s Investor Forum, which is for individual angels. The syndicates provide angels with the option of investing in start-ups with other angels from the syndicate, or with groups of angels from other syndicates in co-syndication deals.

Commenting on HBAN’s angel investments, John Phelan, National Director, HBAN, said: “Comparing the last two years, investment in Irish start-ups through HBAN is up 25 per cent year-on-year. We’re delighted with the steady growth and want to continue this to reach €25 million HBAN angel investment per year by 2020. To help us achieve this target, we’re very focused on recruiting new angels and developing our regional syndicates. In particular, the HBAN offices in Galway, Cork and Waterford are very active in attracting new investors by inviting them to monthly forums and pitching events.”

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Pictured above: Julian Seymour, Syndicates Manager, HBAN; Sarah Cagney, Communications & Relationship Manager, HBAN; and John Phelan, National Director, HBAN.

Photo credit: Mark Stedman