HBAN launches new era of digitally driven angel investing in Ireland
Dogpatch Labs in Dublin and Ormeau Baths in Belfast, will be playing host to an all-island network of hubs, HBAN 2.0, the All-Island Angel Investment Network by Enterprise Ireland and InterTradeIreland.
The regional network of hubs includes Portershed in Galway, Republic of Work in both Cork and Tipperary, and RDI Hub in Kerry.
For more than 16 years, this cross-border initiative, funded by Enterprise Ireland and InterTradeIreland, has been responsible for the development and promotion of Ireland’s angel investment ecosystem. HBAN 2.0’s primary role is to unlock angel investing as a source of funding for new and developing businesses by matching investors with high quality investment opportunities and providing a range of support services for existing members and syndicates. To date member angels have invested €177 million in more than 700 startups on the island of Ireland.
HBAN 2.0 will focus on delivering angel investors a strong, high-quality pipeline of potential investment opportunities. At the heart of the HBAN 2.0 strategy is the creation of a unique network that brings together the largest startup community on the island. These five hubs directly support over 1,000 startups across and operate 25+ programmes, which are further strengthened by key partnerships within the ecosystem.
Led by two experienced directors, HBAN 2.0 will be executed by an experienced full-time central team and supported by a dedicated representative in each region. The new all-island director, Ciaran Gilsenan, was previously responsible for the NDRC portfolio of 200 start-ups with 75 transactions and multiple exits over the last three years. Suzanne Mills was one of two founding directors of NDRC 2.0 and was previously a VP at Morgan Stanley London where she led the design and delivery of a first of its kind Global Derivatives platform.
“Building on HBAN’s success to date, our vision is to deliver a new era for angel investing, both north and south,” said Gilsenan. “Supported by the existing angel network and syndicates, including some of Ireland’s top entrepreneurs, we are committed to providing the highest levels of service for this ever-growing angel network, while enhancing their capacity to deploy early-stage funding.”
The next generation ‘HBAN 2.0’ strategy focuses on a greater adoption of technology to streamline the investment process for angels and startups. Reviewing global best practices, HBAN aims to remove the overall friction from the process, including sourcing, evaluation, and due diligence, as well as supporting greater collaboration and knowledge sharing between the different regions. This serves to reduce the time to complete fund rounds as well as making the overall process more accessible to potential investors.
Mills added: “We believe diversity of investors and investments is key to a thriving ecosystem. Fifty leading women entrepreneurs and domain experts have endorsed our approach and we plan to launch a new women-led syndicate in the first year. We’ll also be operating specific education classes tailored to encourage greater participation.”
Another key objective for HBAN 2.0 is to cultivate a thriving angel investment ecosystem, which includes fostering the most advantageous policy environment for these investors. It will collaborate with organisations like ScaleIreland and others, to provide data-informed policy recommendations to the government, ensuring continued growth and support for the angel investment community.
In the coming weeks, HBAN will commence their All-Island Showcase which will provide a platform for startups to pitch the angel investor network. Beyond this, the various regional hubs will host a range of events across the year, such as networking, educational sessions, and fireside chats, in online, hybrid, and in-person formats, using state-of-the-art broadcast facilities.
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