HBAN angel investments exceed pre-pandemic levels

By hban.org
Monday, 1st November 2021

HBAN (Halo Business Angel Network), the all-island organisation responsible for the promotion of business angel investment, and a joint initiative of Enterprise Ireland, InterTradeIreland and Invest Northern Ireland, today announces that angel investment on the island of Ireland is thriving beyond pre-pandemic levels.

The first half (H1) of 2021 saw a total of €8.38M in angel funding invested in start-ups on the island of Ireland – up 13.5% on H1 2019. The number of start-ups that received funding also increased from 29 to 37.

Meanwhile, additional funds leveraged as a result of HBAN investments reached €37.9M in H1 2021 – an increase of more than 128% on H1 2019. At €324.5K, the average investment made by angel groups in each funding round is also significantly higher (29%) than the €251K average in 2019. Individual angels invested an average of €44K each, with many participating at the €25K range, which is more accessible for those considering their first angel investments.

The promising start to 2021 means that since HBAN’s inception in 2007, start-ups on the island of Ireland have now raised more than €400M in funding from HBAN angels and other funding sources that HBAN helped them to leverage.

John Phelan, all-island director, HBAN, said: “We are delighted to report that angel investment is growing on the island of Ireland, despite the challenges that the COVID-19 pandemic continues to bring to businesses and investors.

“We have seen previously that times of crisis inspire a spirit of entrepreneurism and the first half of this year is testament to the quality of start-ups that are pitching to our angel investors. To maximise potential returns for our angels, each company is assessed and mentored by our team to ensure that they are investor-ready before pitching.

“Aside from the funding, the increase in angel activity is a good sign for start-ups in Ireland, as angel investors also offer industry-specific guidance and contacts that are so vital for businesses in their early years. Angel investment is also important in helping start-ups to leverage funding from additional sources that they wouldn’t otherwise have access to. We are very excited to pass the €400M milestone and look forward to reaching half-a-billion in the near future.”