HBAN is an all-island umbrella group responsible for the development of business angel syndicates. 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.
In 2018 HBAN business angels, across the island invested €9.3m into 44 companies. This direct angel investment leveraged a further €27.5M of additional public & private funds into these companies from organisations such as Enterprise Ireland, venture capital companies and founders. These numbers have risen steadily from 2011 when HBAN helped 29 companies raise €12m of which €6m came from angel investors.
Business angel investors are high net worth individuals who provide smaller amounts of finance (typically in the range €50,000/£40,000 to €250,000/£200,000) at an earlier stage than many venture capital funds are able to invest. They are increasingly investing alongside both seed venture capital funds and government agency funding on the island.
The growing role of business angels as catalysts in many start-up companies is now well recognised in Europe including the island of Ireland. It is worth noting that much of the business angel community is ’ad-hoc‘ involving family, friends and private individuals investing directly in start-ups but not as part of any formal network.
However we have some way to go in comparison with the US, where business angel investment is equivalent in scale to all Venture Capital investment in the economy. The formalisation of business angels into Business Angel Networks (‘BANs’) and the creation of business angel syndicates are reflecting best practice internationally.
HBAN is a joint initiative of Enterprise Ireland, InterTradeIreland, and Invest Northern Ireland 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. and with Clarendon Fund Managers in Northern Ireland.
HBAN WxNW Founder John Mullen interviewed on Shannonside FM
HBAN works regionally in partnership with the Irish Business Innovation Centres (BICs) in Dublin, Cork, Waterford, and Galway and Clarendon Fund Managers in Northern Ireland, who each run local angel networks. HBAN introduces suitable investors to each other and to entrepreneurs. HBAN takes no part in any investment, nor does it provide information to entrepreneurs or investors in relation to particular investments. HBAN does not receive any fee, commission or payment from investors or entrepreneurs in respect of completed investments. HBAN does not provide investment services under the European Communities (Markets in Financial Instruments) Regulations 2007 and is not an investment advisory firm pursuant to the Investment Intermediaries Act 1995 as amended.