HBAN passes €100M angel investment milestone across island of Ireland

HBAN, the all-island organisation responsible for the promotion of business angel investment and a joint initiative between Enterprise Ireland, InterTradeIreland and Invest Northern Ireland, today celebrates more than €100M invested in start-ups on the island of Ireland.

Hban100 12HBAN has been helping start-ups access funding for growth since 2007. Since then, angel investment has continued to accelerate as the number of active angels, and companies pitching for investment, grows. Today’s announcement marks a doubling of the €50M milestone reached four years ago.


The increasing figures reflect the quality of companies pitching to HBAN angel investors. Each company is assessed and mentored by HBAN consultants to ensure they are investor-ready before pitching. Approximately 150 companies pitch to investors each year, with one-in-three receiving funding as a result. This represents approximately 50 deals per year.

Recent research carried out by HBAN among the angel investor community found that the average business angel has invested in multiple companies. In a survey of angel investors across the island of Ireland, HBAN found that the average angel has invested in 4.7 companies. The survey also found that two-thirds usually invest as part of a syndicate.

John Phelan, all-island director, HBAN, said: “We are delighted to have reached the €100M milestone just four years after reaching €50M angel investment across the island of Ireland. It reflects the energetic start-up culture across our cities and regions.  “Our research shows that the business angel community is very active, too. It is a buoyant, exciting community and can be a very rewarding experience. With syndicates located and engaged across the island, and internationally in New York and London, our HBAN angels are supporting local economies and entrepreneurship. As co-funders of the HBAN programme, Enterprise Ireland, InterTradeIreland and Invest Northern Ireland are instrumental in enabling this and ensuring more start-ups in Ireland receive crucial funding.

“This milestone also demonstrates the quality of companies pitching to our angel investors. We know what our angels look for in an investee company and it’s our job to ensure we find those companies and give them the advice that will help them secure critical investment. By securing angel investment, those businesses are then more likely to leverage additional funding from other sources and that is very powerful. You can see that in the €100M invested through HBAN Angels a further €170M was invested by others, for a total of €270M.” 

Kevin Sherry, Executive Director, Global Business Development, Enterprise Ireland said: “Building a strong funding ecosystem at each stage of the funding journey for start-ups is of critical importance to the success of Enterprise Ireland client companies. The availability of Angel funding at the early stages of a company’s development provides both essential capital and hugely valuable industry experience to support companies through this early phase of growth. Enterprise Ireland is very encouraged by the strong take up of the funding over the last decade amongst the Angel community and can already see the positive impact firsthand through the accelerated growth and development of Irish businesses.  “In partnership with InterTradeIreland and Invest Northern Ireland, Enterprise Ireland looks forward to continuing to support the Halo Business Angel Network.”

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