More Cork based investors sought to continue investment in and support of Irish high potential start-ups
The €12m includes €6m from angel investors, with the balance being directly leveraged from organisations such as Enterprise Ireland, venture capital companies and founders.
Picture left: Anthony Bermingham, Bloom Equity; Michael Culligan, national director, HBAN; and John Ryan, Irrus Investments.
Last year, some 29 businesses received investment, in deals which HBAN, the all-island umbrella group in partnership with the Irish BICS is responsible for stimulating angel investment, worked on. Representing a 20 per cent increase on 2010, the investment will lead to the creation of 143 new jobs within 12 months, and 344 jobs within three years. A further eight companies received investment of € 1 million via Halo Northern Ireland.
As a result, 143 new jobs are coming on stream this year, with some of those positions already filled in the first quarter.
29 businesses received investment
143 new jobs to be created within 12 months
344 new jobs within 3 years
A further eight companies received investment via Halo Northern Ireland
“Despite the significant wealth destruction that has occured in this country, these results demostrate that there are still investors with cash and an appetite for the risk/reward opportunities presented by technology start-ups.” Michael Culligan, national director, HBAN
April 12th, 2012, Dublin:Halo Business Angel Network (HBAN), the all-island umbrella group responsible for stimulating angel investment, announces that 2011 was a record year for business angel investment on the island. A joint initiative of InterTradeIreland and Enterprise Ireland, HBAN in partnership with the Irish BICS helped 29 companies raise €12 million, which will lead to the creation of 143 new jobs in 2012 and 344 jobs by the end of 2014. An incremental €1M (£850K) was raised in eight deals completed by Halo Northern Ireland.