HBAN Angels invested €14m in 2020, despite the pandemic turbulence.

HBAN the all-island organisation responsible for the promotion of business angel investment, and a joint initiative of Enterprise Ireland, InterTradeIreland and Invest Northern Ireland has announced that despite the pandemic-induced restrictions over the course of 2020, business angels invested over €14m in start-ups across the island of Ireland.

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HBAN’s angels invested in 59 companies during 2020, with an average deal size of €250k from angel investors. These funds leveraged a further €40.5m from Enterprise Ireland and other investors. Categories of start-ups that were most commonly invested in included MedTech, ICT & Manufacturing.

2020 saw HBAN attract over 100 new angel investors to its group, as well as the formation of the new Kerry Angel Network group. Business angels are typically former entrepreneurs and other high net worth individuals who have experience and networks available to assist start-ups to grow and accelerate their business development.

HBAN is also putting a call out for existing and new business angels to join to boost investments in 2021. Its upcoming annual conference is geared towards encouraging wider involvement in business angel investing across the island of Ireland, showcasing the range of investment opportunities and associated benefits to current and prospective investors.

Commenting on the level of business angel investing in 2020, John Phelan, all-island director of HBAN said: “The figures for 2020 illustrate that a high level of angel investing was sustained across the island during 2020, irrespective of external variables brought on by the pandemic. As Irish start-ups continue to contend with the reality of level 5 restrictions, there is an immediate opportunity for current and prospective angel investors to drive a new wave of innovation forward. History shows us that some of the most successful and innovative businesses are founded during recessions and difficult trading times.
Source: HBAN.org

 

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