3rd February 2011
Calling Business Angels to meet in new cross-border initiative
HBAN Investor Syndicates, the angel investment initiative of InterTradeIreland, is examining the feasibility of setting up a north-south group of private investors around the M1 economic corridor. The investors would make investments in promising start-up business ventures on both sides of the border and InterTradeIreland is urging potential ‘business angels’ to get involved in stimulating new local businesses and the economy.
Interested investors are being invited to an information meeting at the Carrickdale Hotel, Ravensdale, Dundalk from 4 pm – 6pm on Thursday 24th February. At the event, potential investors will hear from expert speakers about how they can make meaningful investments in high potential businesses. The meeting is strictly for potential investors only (not for start-ups) and registration is available by contacting HBAN via www.hban.org or 01-6550420.
HBAN is the all-island industry body for business angel investment north and south. Established in 2009, the initiative is designed to support emerging high potential firms while also being of benefit to the individual investors concerned. HBAN actively screens the potential businesses who submit proposals and if they are deemed to be ‘equity ready’ it brings these forward to investors as viable investment opportunities.
Groups or ‘syndicates’ of investors, co-ordinated by HBAN, have already established investment pools of some €10 million since HBAN was established in 2009. The groups of investors hold their own purse strings at all times while HBAN co-ordinates contact with companies who are screened in advance as suitable prospects. Marking the effectiveness of the programme, over €1.5 million in funding was placed into emerging Irish companies in 2010 by HBAN Investor Syndicates.
HBAN focuses on supporting companies that are seeking to raise financing of between €250,000 and €1.25 million by linking entrepreneurs to individual investors or investment syndicates.
Diane Roberts, National Director of HBAN Investor Syndicatessaid: “The downturn has created significant opportunities for private investors where they come together as syndicates to invest in emerging companies. The costs of starting a company are less today than they were some years ago and private investors can create an exponential growth effect with their funding. Investments are also providing value for money as valuations are reflecting economic conditions. Investing in early stage companies is also considered to be an attractive prospect by many investors following the fall in stock market and property values. The most effective method of investment is where investors pool their resources and form portfolios of invested companies where they can support greater numbers of businesses and spread the possible risk of investment.”
Internationally, private investors have become a well established source of capital for innovative companies. The European Business Angels Network (EBAN) estimates that there are some 75,000 private investors across over 300 syndicates with over €3 billion invested in emerging companies. (Source EBAN 2009 Activity Report).
About Halo Business Angel Network (HBAN):HBAN, which is a joint initiative of InterTradeIreland and Enterprise Ireland, is an all-island umbrella group for business angel networks, dedicated to the promotion of angel investment and supporting the early stage entrepreneurial community in Ireland. HBAN actively works to increase the number of angel investors involved in investing in early stage companies and supports the formation of new and existing angel networks, both regionally and internationally, and within industry sectors. HBAN also acts as a voice to government, stakeholders, business and the media to promote the interests and needs of the angel investment community. Further information is available at: www.hban.org.
About HALO NI: Halo NI is a joint initiative of InterTradeIreland and Invest NI. It is a group of over 100 business angels who invest their own private money in start-up companies with high growth potential. Since 2009 Halo NI has facilitated the angel investment of over £2.5m and was voted the British Business Angels Association Angel Network of the Year 2010 in only its second year of operation. For more information www.haloni.com.
About InterTradeIreland:InterTradeIreland is the only organisation which has been given responsibility by both Governments to boost North/South economic co-operation to the mutual benefit of Northern Ireland and Ireland. By encouraging better use of collective resources, it helps to grow trade and innovation across the island through its range of business programmes, research and networks. Visit www.intertradeireland.com.
