Industry & Business

HBAN angels invested €13.6m in 50 Irish start-ups in 2016

 Breaking News
  • ASAI Issues New Guidelines For Advertising Mobile Phone and Broadband Services The Advertising Standards Authority for Ireland (ASAI), the independent self-regulatory body committed to promoting the highest standards of marketing communications in Ireland, has introduced new guidelines relating to the advertising of mobile phone and broadband services. The guidelines will complement the existing ASAI Code in ensuring that certain marketing terms used by telecommunications operators convey [...]...
  • Sustainable Apartment Living For Ireland A new report on sustainable apartment living in Ireland was launched by the Housing Agency and Clúid Housing. Amongst some of the reports findings and research were that apartment living has increased in the last few years and according to the report, the number of apartments in Ireland has increased by 85% between 2002 and [...]...
  • Brand New Campaign Showcasing Ireland’s Food and Drink Starts Fáilte Ireland’s Taste the Island campaign has gone live with a brand-new TV ad encouraging domestic holidaymakers to take a short break in Ireland to enjoy some of the 700+ food and drink related experiences on offer across this September, October and November. Taste the Island is a 12-week celebration of Ireland’s seasonal ingredients, adventurous tastes [...]...
  • Enet Expands its Data Centre Connectivity Portfolio Across Dublin Enet, Ireland’s largest wholesale, open-access network provider, has added six more data centres across Dublin to its national network. The additional data centres allow it to offer more options when it comes to dark fibre and managed bandwidth to its customers, and will result in increased connectivity for consumers. Enet is now connected to 25 data [...]...
  • ACCA and Bank of Ireland Issue Warning Amid Foreign Currency Fluctuations Many Irish companies that deal in foreign currency are exposing their businesses to significant and unnecessary profitability risks due to a lack of consideration of appropriate hedging within their organisations. That’s the message from the Association of Chartered Certified Accountants (ACCA) and Bank of Ireland who have launched a new programme to support businesses in [...]...

HBAN angels invested €13.6m in 50 Irish start-ups in 2016

HBAN angels invested €13.6m in 50 Irish start-ups in 2016
March 10
09:05 2017

HBAN (Halo Business Angel Network), the all-island group responsible for the promotion of business angel investment in Ireland, recently announced that business angels invested €13.6 million in 50 Irish start-ups last year – up 25% from the previous year. This includes €1.5 million (£1.3 million) invested in eight deals completed by Halo Northern Ireland angels. HBAN’s annual report for 2016 reveals that the investments leveraged a further €20.5 million from other public and private funds, bringing the total invested to €34.1 million.

As seed capital funds waited to be replenished last year, individual angel investments increased. The HBAN 2016 annual report reveals that while the number of companies receiving angel investment did not fluctuate from previous years, angels did invest greater sums of money in those companies. The average angel investment last year was €272,000, considerably higher than the 2015 average of €217,000. When investment from other sources is included, this is an average investment of €700,000 per company.

In total, HBAN, a joint initiative of InterTradeIreland and Enterprise Ireland, organised 51 funding events throughout the country last year. The events saw pre-qualified high potential start-ups pitch to HBAN-registered angels in the hope of receiving investment. Companies that received investment last year included Pundit Arena, Glofox, SoopaPets and DiaNia. Key sectors included ICT, healthcare, consumer products and food.

Since 2007, HBAN angels have invested €73 million in 362 separate deals. When the €113 million invested by other funds in those deals is added, this is an overall total of €186 million invested in Irish start-ups in the last 10 years.

John Phelan, National Director of HBAN, said: “What’s so impressive about these results is that, at a time when there was a shortage of seed funding in Ireland, the average business angel investment per funding round increased by 25%. There was a significant drop in the value of seed funding available in the last couple of years, leaving promising start-ups struggling to source funding. We were delighted to see that our business angels played a significant role in closing that funding gap by increasing the amount they invested.

“This not only reflects the value of angel funding to the Irish economy, but also the quality of companies that we introduce to our angels. We only introduce angels to start-ups that we have identified as high-potential businesses. That is why last year a quarter of all businesses that pitched to HBAN-registered angels received funding.

“Every year, hundreds of promising Irish start-ups approach us looking for smart money – in other words, funding that is paired with deep domain knowledge and mentorship from investors with specific industry expertise. With the start-up community showing no signs of slowing down, we are constantly on the look-out for more angels to join our network and we expect to be announcing even more positive results this time next year.”

About Author

editor

editor

Related Articles

New Subscriber

Subscribe Here



Advertisements





















National Manufacturing Conference & Exhibition 2018

NIBRT Springboard Success Stories



Upcoming Events

  • No upcoming events
AEC v1.0.4