HBAN Scoops Major European Business Angel Network Award
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, was crowned Globally Networked Organisation 2018 at the recent EBAN (European Business Angel Network) Awards Ceremony held in Sofia, Bulgaria.
HBAN was awarded the prominent European accolade in recognition of the significant expansion of its business angel network with the successful launch of three new syndicates in London, Singapore and New York this year. Almost €7 million of additional international business angel funding is now available to Irish start-ups, as well as access to the US, UK and Asian markets.
Investors from HBAN’s three international syndicates, along with other HBAN angels, have collectively invested almost €3.5 million in five Irish companies, including investment app, Rubicoin, medical device company, ProVerum Medical and deposit management service, Deposify. These investments leveraged a further €7.5 million from other private funds, bringing the total invested in these companies to almost €11 million.
John Phelan, national director of HBAN, said: “The HBAN team is very concentrated on providing not just access to funding, but access to export markets for Irish start-ups. This prestigious award is testament to the work we’re doing to increase the early-stage investment from angels with strong international connections.
“Expanding HBAN’s global influence through the creation of a driven international network has been a key focus for 2018. Building on the momentum of the New York, London and Singapore Syndicates launches and are in the early stages of engagement with two more potential international syndicates that we plan to announce in the coming months. HBAN is the only business angel network in the world concentrating on developing a diaspora network of international syndicates.
“Access to international private equity and new markets is hugely important for the Irish start-up ecosystem. HBAN’s five regional business angel networks, seven industry-specific syndicates and three international syndicates provide high-potential companies with financial support, business expertise, mentorship and contacts – all of which will enable them to grow. Through the three new international syndicates, Irish start-ups can now leverage the local networks of these international angels to provide them with support in targeting the local markets in which they are located.”
Since 2007, HBAN angels have invested €85 million in 407 separate deals. When the €132 million invested by other funds in those deals is added, this is an overall total of €217 million invested in Irish start-ups in the last 10 years.
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Pictured accepting the Game Changer for Europe Award are (L to R): John Phelan, HBAN national director; Candace Johnson, EBAN President; Albert Colomer, BANC Director; and Sarah Cagney, HBAN communications and relationship manager. Photo credit: EBAN
