HBAN to boost angel investment to €25m per year by 2020
16 November 2017 | 0
HBAN (Halo Business Angel Network) has announced plans to increase the amount invested in Irish start-ups by its members to €25 million per year by 2020. This will see HBAN increasing angel investment by 17% per year for the next four years.
A key focus will be the ICT, medtech and health sectors, which attracted a combined €8.7 million, out of a total €13.6 million, in angel funding invested in 2016.
HBAN angels have invested over €80 million in Irish start-ups. These investments have leveraged a further €124 million from other public and private funds, bringing the total invested to €204 million. Since inception, HBAN angels have completed 395 investments.
John Phelan, national director, HBAN, said: “Comparing the last two years, investment in Irish start-ups through HBAN is up 25%. We’re delighted with the steady growth and want to continue this to reach €25 million HBAN angel investment per year by 2020. To help us achieve this target, we’re very focused on recruiting new angels and developing our regional syndicates. In particular, the HBAN offices in Galway, Cork and Waterford are very active in attracting new investors by inviting them to monthly forums and pitching events.
“In terms of return on investment, HBAN is providing excellent value. Over twenty times the cost of the programme is invested by angels in Irish companies through the network, and when other public and private funds are included, that jumps to 50 times the cost of the programme.”