A new investor syndicate has been formed that aims to increase the level of angel investment taking place in Northern Ireland.
The “HBAN Business Angel Syndicate” has been formed by HBAN - Halo Business Angel Network - to bring private investors together to back high potential early-stage ventures.
Business angels who are members of the HBAN Business Angel Syndicate have participated in five deals during its first six months of existence.
Among the companies to recently benefit from business angel funding are innovative hair care product company We are Paradoxx, sports facility booking firm Pitchbooking and cyber security software specialist firm Uleska. Clarendon Fund Managers operating in Belfast since 2001 has been appointed to manage the HBAN Business Angel Syndicate.
Bryan Keating, chair of the HBAN Business Angel Syndicate, said: “Many companies in Northern Ireland have benefitted from the investment of individual or small groups of business angels, but we believe that bringing active investors together in a larger syndicate or forum creates new opportunities for joint investment and also gives early stage companies access to a pool of expertise that can greatly benefit their business.
“Angel Investors play an important role in the economy, and in many countries constitute the largest source of external funding, after family and friends, into newly established innovative ventures. They are increasingly important source of risk capital and I would encourage anyone thinking of becoming an angel investor to join the HBAN Business Angel Syndicate initiative and attend upcoming pitch events.”
Jim Curran, Regional Director of HBAN Business Angel Syndicate, said: “We already have a strong group of experienced investors involved in the Syndicate and Forum, some are entrepreneurs still leading their own business and others have sold their company. What they have in common is a willingness to mentor and invest in high potential, growing innovative companies which are at different stages of development.
“The Syndicate is targeting businesses who are seeking investment rounds of up to £500,000 and we have also established the Investor Forum for a wider group of investors out there who are keen to support companies at a lower but still significant investment level.”
He added: “Four local companies have been invited to pitch for funding at our first Forum event. There is a growing pool of entrepreneurs who understand that angel investment can be a value adding source of equity funding but we want to hear from more of these exciting companies who are keen to pitch at HBAN Business Angel Syndicate events.”
The first HBAN Forum event of 2019 will take place on Wednesday 3rd April at Ten Square Hotel, click here to register or email Claudine@hban.org for more information.