New York investors pledge funding for Irish startups

New York investors pledge funding for Irish startups

A group of Irish-American entrepreneurs in New York has said they are looking to invest in high-potential Irish tech startups looking to enter the US market, writes Padraig Hoare. 

The Digital Irish Angels syndicate, which has 20 investors with backgrounds in finance and technology, said it wanted to invest up to €1.25m a year in five startup companies, over the next three years.

An investment of up to €250,000 in each company will particularly focus on startups in the technology, media, and financial and technology areas, according to the syndicate investors.

The investment was announced in New York following a partnership agreement between Digital Irish Angels and a body responsible for angel investment in Ireland, the Halo Business Angel Network.

The syndicate group was formed in 2015. It includes Feargall Kenny, David Beatty and Shane Naughton.

It has so far invested in a number of Irish start-ups including Sytorus, Video Elephant, Brightflag, Deposify, and ProVerum Medical.

Mr Kenny said there was an appetite for investing in high-potential, Irish companies among Irish- American business angels in the US.

“Irish start-ups are realistically investor-ready for this group of business angels when they have raised private seed, or ‘Series A’ investment in Ireland and have already established a footprint in the US,” he said.

Halo Business Angel Network national director John Phelan said the syndicate had the “knowledge, contacts and expertise to help Irish companies enter the US market and grow into international success stories”.

The syndicate plans to increase business investors among Irish Americans along the East Coast.

More in this Section

DCC shares fall 6% on profit declineDCC shares fall 6% on profit decline

Regulator: Banks still failing customersRegulator: Banks still failing customers

Sterling inches lower as Tory vote boost fadesSterling inches lower as Tory vote boost fades

Boeing orders and deliveries continue to sag with Max groundingBoeing orders and deliveries continue to sag with Max grounding


The Cosmetify Index reveals the cosmetics companies that are generating the most buzz online – and Dubai-based Huda Kattan has the top spot.Huda Beauty tops the 10 ‘most popular’ beauty brands this year

Read the script of Kya deLongchamps’ kitchen-sink drama to set the scene to make an informed choice when selecting this home essentialTake the plunge: Read this checklist before you splash out on your new kitchen sink

SOMETIMES, the journey is more important than the destination. And sometimes, we just want to sit at home eating a bag of jelly beans, while thinking about more jelly beans. Life is only as significant or special as we make it.GameTech: Death Stranding is a divisive, beautiful journey packaged in a cool world

Former Oasis drummer Tony McCarroll tells Richard Purden about the mad times when five Manc-Irish lads became one of the biggest rock bands in the worldNot looking back in anger: Former Oasis drummer looks back at the mad times of one of the biggest rock bands in the world

More From The Irish Examiner