HBAN smashes angel recruitment target
21 January 2020 | 0
HBAN (Halo Business Angel Network), an initiative of Enterprise Ireland, InterTradeIreland and Invest Northern Ireland, recruited more than 100 business angel investors last year – significantly higher than its target of 75.
The organisation is now aiming to sign up a further 100 angels in 2020.
Business angel investment is continuing to grow across the island of Ireland and in December last year, HBAN announced that its members have now invested more than €100 million in start-ups since 2007. This represents a doubling of the €50 million figure reached in 2015 thanks to increasing angel numbers and activity.
Through its 2020 recruitment drive, HBAN aims to sign up 100 angels with €20 million available to invest in Irish start-ups. This will begin at the All-Island Conference in Powerscourt Hotel, Wicklow, on 6 February 2020.
John Phelan, all-island director, HBAN, said: “The business angel community is continuing to grow year-on-year and the success of last year shows that interest in angel investment is accelerating at a terrific rate. One of the drivers behind this is that we are seeing a lot of younger people who are coming up through the ranks of the larger tech companies, and who then want to invest in start-ups themselves.
“At HBAN, we are doing a lot of public education on what is involved in angel investment, which is having a significant impact on our numbers. The average angel investment on the island of Ireland is €25,000, so many people are discovering that angel investment isn’t just an activity reserved for high-net-worth individuals.
“The All-Island Conference is all about giving prospective investors the confidence and knowledge to become successful angel investors. Of course, everyone wants to achieve as many exits as possible, so this year’s conference will show how the clever use of data can yield better returns for investors and the companies in which they invest.”