Investor News

HBAN played Cupid to 202 Irish start-ups in 2016

By hban.org, Monday, 13th February 2017 | 0 comments
Filed under: Deals Done, Angel, 2017.
  • Last year, 250 investors listened to pitches from 202 start-ups that HBAN identified as investor-ready
  • 50 of those 202 start-ups – almost 25% – were successful in finding their investor match. Relationships between investees and angel investors typically last 4 to 7 years

 

HBAN (Halo Business Angel Network) today announces that it set up 202 start-ups with angel investors in 2016. The all-island group is responsible for the promotion of business angel investment in Ireland and last year’s match-making efforts resulted in 50 relationships blossoming.

The not-for-profit group, a joint initiative of InterTradeIreland and Enterprise Ireland, held 51 funding events last year. That included a nationwide roadshow that aimed to raise €6 million in 48 hours through the recruitment of more angel investors.

On average 25% of companies that pitched to HBAN business angels at the funding events received investment. Some 64% of companies that pitched to one of our syndicates received investment, either from HBAN investors, or others. Relationships between start-ups and angel investors typically last between four and seven years.

Start-ups that obtained angel funding last year included medtech start-up Signum Surgical (€2.6M), which received funding from the Galway-based MedTech Syndicate; preventative health solutions provider Full Health Medical (€500K), backed by the WxNW (West by Northwest) Syndicate; TippyTalk (€400K), a communications platform for people with verbal disabilities, which received investment from HBAN Southwest; and data logistics company, Caragon (€500K), supported by the HBAN Investor Forum, Dublin.

John Phelan, National Director of HBAN, said: “We are like a sophisticated dating agency for business angel investors and start-ups. Every year, hundreds of start-ups seeking funding approach us. It is our job to assess them and identify which ones are investment-ready before introducing them to potential investors.

“That produces a great quality of deal flow, which is a fantastic time-saving asset for angels. Our angels can therefore trust that we have selected only the most promising start-ups to pitch to them - it’s just a matter of choosing which company is right for them. It’s a little bit like Tinder for investors.

“Our focus now is to get more angel investors on-board so that we can continue to support Ireland’s start-up community. Last year, we paired more start-ups with angel investors than ever before. Our success rate was also the best yet, with 25% of pitches resulting in a committed relationship, leading to a marriage and then a planned divorce – in other words, an exit. The fact that one-in-four start-ups receives funding is an attractive figure for potential angel investors. It shows the great level of confidence that our angel investors have in the companies that we introduce them to.”

About Halo Business Angel Network (HBAN): HBAN is a joint initiative of Enterprise Ireland and InterTradeIreland, dedicated to the all-island promotion of business angel investment. The HBAN umbrella group supports the early stage entrepreneurial community across the island of Ireland and actively works to increase the number of angel investors investing in early stage companies.  The all-island umbrella group works on a regional basis to support the formation of new angel networks and works with existing angel networks to develop their capability and capacity, and across a range of industry sectors. HBAN also acts as a voice to Government, stakeholders, business and the media to promote the interests and needs of the wider angel investment community. HBAN is managed by Dublin BIC in partnership with the regional Irish BICs in Cork, Galway & Waterford. HBAN works in partnership with Halo NI & Invest NI in Northern Ireland. Further information is available at: http://www.hban.org

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