HBAN (Halo Business Angel Network), the all-island organisation responsible for the promotion of business angel investment, and a joint initiative of Enterprise Ireland and InterTradeIreland, today announces its first overseas partnership with the New York-based Digital Irish Angels (DIA) Syndicate. The collaboration with HBAN, was officially launched at an event in the Residence of the Consul General, Mr. Ciarán Madden, in New York City, this partnership will enable the syndicate to invest and support early stage Irish companies who have a US market focus.
The partnership between HBAN and the Digital Irish Angels was launched at an event at the Residence of the Consul General in New York City. Pictured at the event are (L-R) John Phelan, national director, HBAN; Feargall Kenny, Digital Irish Angels Syndicate; and Ciarán Madden, Consul General of Ireland in New York.
The DIA syndicate has more than 20 investors. With backgrounds in finance and technology, these successful Irish-American entrepreneurs are looking to invest in Irish companies that want to enter the US market. The investors are particularly focused on start-ups in the technology, media, and fintech sectors.
The New York-based DIA syndicate is a partnership between HBAN and the Digital Irish group, a New York-based organisation that promotes the expansion of Irish start-ups. Both organisations are working together to increase the number of angels involved, by connecting the syndicate with Irish Americans along the US East Coast, and by highlighting the quality of Irish start-ups.
Over the next 12 months, HBAN’s New York-based syndicate aims to invest in four to five Irish companies. The business angels will not only provide funding, but also the support and access to their networks, to help these start-ups grow their businesses in the US and on a global scale. To date, the Digital Irish group has invested in a number of Irish start-ups including Sytorus, Video Elephant, Brightflag, Deposify and ProVerum Medical.
John Phelan, national director of HBAN, said, “We are delighted to announce the partnership with the Digital Irish Angels Syndicate. This is testament to both the quality of Irish start-ups and the work of the network in vetting, preparing and confirming companies as investor-ready. Many of the start-ups that have received funding in the previous 10 years, through the network, have scaled and become international successes.
“This has been noticed by the international investment community and there has been interest from Irish diaspora around the world, particularly in the US, to become involved in angel investing in Irish start-ups. The lead angels of our New York syndicate are successful entrepreneurs who have the knowledge, contacts and expertise to help Irish companies enter the US market and grow into international success stories. We are excited to be working with them and showcasing quality Irish start-ups.”
Feargall Kenny, of the DIA syndicate, said, “There is an affinity with, and appetite for, investing in high-potential, Irish companies among Irish-American business angels in the US. The Irish diaspora community in New York, and the US represents a broad and deep pool of domain expertise, capital and networks interested in helping to grow the number of high-potential tech firms coming out of Ireland. 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.”
This news was also featured in:
- Irish Independent, 25th January 2018 – HBAN’s New York partnership (Print)
- Business Plus Online, 25th January 2018 - HBAN Partnering With US Investor Group
- ThinkBusiness.ie, 25th January 2018 - New angels to help Irish tech firms enter America
- Irish Tech News, 25th January 2018 - HBAN announce partnership with New York based Digital Irish Angels
FORA, 21st January 2018 - A top US-based investor says most Irish startups make the same mistakes in America
The Irish Times (Print and Online), 25th January 2018 - Business angel networks in Ireland and US team up to support Irish start-ups
Irish Examiner (Print and Online), 25th January 2018 - New York investors pledge funding for Irish startups
Irish Independent Online, 25th January 2018 - HBAN partnership with NY-based investors to bring up to $3.75m to Irish firms over next three years
RTE News Online, 25th January 2018 - HBAN in new partnership with New York-based Digital Irish Angels
Environment and Energy Management, 30th January 2018 - HBAN announce partnership with New York-based Digital Irish Angels
Irish Daily Mirror, 1st February 2018 – Angels wing it to Big Apple (Print)
Business World, 1st February 2018 - HBAN partner with New York-based Digital Irish Angels
Bank of Ireland Corporate News, 1st February 2018 - HBAN partner with New York-based Digital Irish Angels
AIB Corporate News, 1st February 2018 - HBAN partner with New York-based Digital Irish Angels