€7m in business angel funding available to Irish start-ups

€7m in business angel funding available to Irish start-ups
Pictured accepting the Game Changer for Europe Award is (L to R) John Phelan, HBAN national director; Candace Johnson, EBAN President; Albert Colomer, BANC Director; and Sarah Cagney, HBAN communications and relationship manager. Photo credit: EBAN.

Almost €7m of additional international business angel funding is now available to Irish start-ups, as well as access to the US, UK and Asian markets.

This comes as Irish company HBAN (Halo Business Angel Network) announced today that it was crowned Globally Networked Organisation 2018 at the European Business Angel Network (EBAN) Awards Ceremony held in Sofia, Bulgaria, on June 25.

The all-island organisation responsible for the promotion of business angel investment, was awarded the prominent European accolade in recognition of the significant expansion of its business angel network with the successful launch of three new syndicates in London, Singapore and New York this year.

Investors from HBAN’s three international syndicates have collectively invested almost €3.5m in five Irish companies, including investment app, Rubicoin, medical device company, ProVerum Medical and deposit management service, Deposify.

These investments leveraged a further €7.5m from other private funds, bringing the total invested in these companies to almost €11 million.

John Phelan, national director of HBAN, said:

“Access to international private equity and new markets is hugely important for the Irish start-up ecosystem. Through the three new international syndicates, Irish start-ups can now leverage the local networks of these international angels to provide them with support in targeting the local markets in which they are located.”

“The HBAN team is very concentrated on providing not just access to funding, but access to export markets for Irish start-ups. This prestigious award is testament to the work we’re doing to increase the early-stage investment from angels with strong international connections.

- Digital Desk

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