HBAN (Halo Business Angel Network), the all-island organisation responsible for the promotion of business angel investment, and a joint initiative of Enterprise Ireland and InterTradeIreland, last week announced its first overseas partnership with the New York-based Digital Irish Angels (DIA) Syndicate.
The collaboration with HBAN, was officially launched at an event in the Residence of the Consul General, Mr. Ciarán Madden, in New York City, this partnership will enable the syndicate to invest in and support early stage Irish companies who have a US market focus.
The DIA syndicate has more than 20 investors with backgrounds in finance and technology, these successful Irish-American entrepreneurs are looking to invest in Irish companies that want to enter the US market. The investors are particularly focused on start-ups in the technology, media, and fintech sectors.
The New York-based DIA syndicate is a partnership between HBAN and the Digital Irish group, a New York-based organisation that promotes the expansion of Irish start-ups. Both organisations are working together to increase the number of angels involved, by connecting the syndicate with Irish Americans along the US East Coast, and by highlighting the quality of Irish start-ups.
Over the next 12 months, HBAN’s New York-based syndicate aims to invest in four to five Irish companies. The business angels will not only provide funding, but also the support and access to their networks, to help these start-ups grow their businesses in the US and on a global scale. To date, the Digital Irish group has invested in a number of Irish start-ups including Sytorus, Video Elephant, Brightflag, Deposify and ProVerum Medical.
Speaking last week, National Director of HBAN, John Phelan said, "We are delighted to announce the partnership with the Digital Irish Angels Syndicate. This is testament to both the quality of Irish start-ups and the work of the network in vetting, preparing and confirming companies as investor-ready. Many of the start-ups that have received funding in the previous 10 years, through the network, have scaled and become international successes."
He added, "This has been noticed by the international investment community and there has been interest from Irish diaspora around the world, particularly in the US, to become involved in angel investing in Irish start-ups. The lead angels of our New York syndicate are successful entrepreneurs who have the knowledge, contacts and expertise to help Irish companies enter the US market and grow into international success stories. We are excited to be working with them and showcasing quality Irish start-ups.”