Angel investors to support 700 jobs

The employment impact of angel investment on both sides of the border has more than doubled in the past four years, according to new figures.

Last year’s annual report for the Halo Business Angel Network (HBAN) – a joint venture between Enterprise Ireland and InterTradeIreland – reveals a large jump in the number of jobs supported by by the network’s investments last year.

An estimated 700 roles will be created in 48 companies across the the island of Ireland having completed successful funding rounds totalling €30 million in 2014.

The economic impact of the angel investment programme has risen steadily over the past number of years with 344 jobs supported by a total investment of €12m in 2011.

“We recognise the growing importance of business angels as catalysts in start-up companies, particularly in the technology and knowledge economy and sectors associated with it, like MedTech, FinTech and AgriTech,” said HBAN national manager, John Phelan.

Of the €30m raised during 2014, €9.5m came directly from angel investment, with the rest leveraged from public and private funds including Enterprise Ireland, venture capital companies and founders.

Technology based start-ups across the island made up a large segment of the companies supported.

Among those successful in obtaining funding during the year are Galway-based medical devices company, Embo Medical which raised €1.5m from “angels”. HBAN also recently held a week-long series of investment talks at regional offices in Cork, Galway and Waterford.