The Halo Business Angel Network (HBAN) linked 202 start-ups with angel investors in 2016, it was announced today.
The all-island group is responsible for the promotion of business angel investment in Ireland and last year’s efforts resulted in 50 investor matches.
The not-for-profit group, a joint initiative of InterTradeIreland and Enterprise Ireland, held 51 funding events last year. That included a nationwide roadshow that aimed to raise €6 million in 48 hours through the recruitment of more angel investors.
On average, 25% of companies that pitched to HBAN business angels at the funding events received investment. Some 64% of companies that pitched to one of their syndicates received investment, either from HBAN investors, or others.
Relationships between start-ups and angel investors typically last between four and seven years.
Success stories last year included:
Medtech start-up, Signum Surgical (€2.6M) which received funding from the Galway-based MedTech Syndicate.
Preventative health solutions provider, Full Health Medical (€500K) backed by the WxNW (West by Northwest) Syndicate.
TippyTalk (€400K) - a communications platform for people with verbal disabilities which received investment from HBAN Southwest.
Data logistics company, Caragon (€500K) which was supported by the HBAN Investor Forum, Dublin.
Commenting today, National Director of HBAN, John Phelan said, "The fact that one-in-four start-ups receives funding is an attractive figure for potential angel investors. It shows the great level of confidence that our angel investors have in the companies that we introduce them to."
Source: www.businessworld.ie
