HBAN Aims to Raise €10 Million From 50 Female Angels
HBAN (Halo Business Angel Network), the all-island organisation responsible for the promotion of business angel investment, and an initiative of Enterprise Ireland, InterTradeIreland and Invest Northern Ireland, plans to recruit 50 new female business angel investors over the next three years. HBAN will run a series of events to encourage more female investors to invest in ambitious start-ups based on the island of Ireland seeking to expand internationally. The new female investors will bring a combined €10 million of new business angel funds.
John Phelan (pictured), national director, HBAN, said: “Angel investing is about much more than just the financial investment; it’s about the knowledge and expertise that the angel brings to the business. Many of our angels sit on their investee company boards and there is extensive research to show that companies with more gender diverse management teams perform better financially. At the moment, many local start-ups are missing out on the valuable experience that female investors bring.”
To encourage women to become more active as angel investors on the island of Ireland, HBAN will host a female investor masterclass on Wednesday, 21st November at 5.30 pm, in Google Dublin. The event is the first in a series of masterclasses for existing, and those interested in becoming, HBAN business angels.
The female investor masterclass will provide an introduction to angel investing including details on making investments, due diligence and syndicate structures as well as an introduction to the HBAN network. Laura Lynch, strategic tax advisor to several HBAN Investment Syndicates will address key considerations on the most tax efficient ways to make, manage and exit investment and give an overview of the syndicate investment process.
The event will also include a panel discussion with experienced investors including PunamRane and Rowan Devereux. The panel discussion will provide an opportunity for the speakers to discuss their angel investing journey, offer advice on successful investments and how to minimise risks. Attendees will also have the opportunity to listen to some pitches from early stage, innovative start-ups which will showcase the type of investor-ready companies that HBAN bring to the network. The evening will finish with a drinks reception and networking.
John Phelan continued: “Through conversations with our female angels, female entrepreneurs and other women working within the early stage start-up ecosystem, we’ve identified that a lack of information on the angel investing process, women not being seen as the typical investor, and a predominantly male environment are some of the barriers for women becoming involved in angel investing.
“The purpose of the upcoming HBAN Female Investor Masterclass is to break down these barriers and to encourage more female investors to invest in high potential start-ups. We welcome anyone that is interesting in learning more about becoming an investor, and existing members of HBAN to the masterclass on 21st November.”
Punam Rane, HBAN Bloom Equity Syndicate member said: “I welcome any initiative that encourages more women to get involved in angel investing. When I joined the Bloom Equity Syndicate in 2014 I didn’t know a lot about angel investing, but I did know that there were good returns yielded by investment in start-ups based on the island of Ireland.
“Initially I attended the syndicate meetings and observed the pitching process, listening to the types of questions the more seasoned investors were asking the start-ups. I gradually began to invest in companies along with other members of the syndicate, which has provided invaluable learnings into the process of investing in start-ups. I recently acted as the lead angel in an investment.
“I would urge other women who are interested in investing in high potential start-ups to come along to a syndicate meeting to find out more. There isn’t an onus to invest immediately; it’s important to take time to observe the quality of companies that pitch and become familiar with the process.”
Since 2007, HBAN angels have invested €91 million in 436 separate deals. Together with investments from other funds amounting to €149 million, an overall total of €240 million has been put into start-ups in Ireland and Northern Ireland over the last 11 years. HBAN is seeking angels interested in joining its syndicates, for more information visit www.hban.org.