HBAN announces partnership with New York-based Digital Irish Angels
26 January 2018 | 0
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, have announced its first overseas partnership with the New York-based Digital Irish Angels (DIA) Syndicate.
The DIA syndicate has more than 20 investors. With backgrounds in finance and technology, these 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.
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.
John Phelan, national director of HBAN, 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.
“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.”
Feargall Kenny, DIA syndicate, said: “There is an affinity with, and appetite for, investing in high-potential, Irish companies among Irish-American business angels in the US. The Irish diaspora community in New York, and the US represents a broad and deep pool of domain expertise, capital and networks interested in helping to grow the number of high-potential tech firms coming out of Ireland. Irish start-ups are realistically investor-ready for this group of business angels when they have raised Private Seed or Series A investment in Ireland and have already established a footprint in the US.”
To date, the Digital Irish group has invested in a number of Irish start-ups including Sytorus, Video Elephant, Brightflag, Deposify and ProVerum Medical.