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Ireland's Angels to Invest €10M

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DateThursday, June 17, 2010
AuthorS K

Ireland's Angels to Invest €10M

Four New HBAN Syndicates Plan To Invest €10 Million in Early Stage Entreprises




Conference MC Mark Little, HBAN national director Diane Roberts, and technology entrepreneur and Newbay Software CEO Paddy Holahan,Ireland's Halo Business Angel Network (HBAN), the national network for angel investing in Ireland, has announced four new investment syndicates that are actively seeking investment opportunities in  technology, telecommunications, life sciences and renewable energy.



The announcement was made at Ireland's first-ever Business Angels Conference in Dublin which attracted 75 leading investors, including some of Ireland's most noted entrepreneurs who HBAN claim are keen to network in order to identify promising firms which they can put their money into.



HBAN said the four new syndicates - Irrus Investments, Reddo Partners, the Technology Investment Group, and Clean Technologies - expect to invest at least €10 million between them over the next three years, largely in early stage indigenous enterprises.



HBAN was set up last year as a joint initiative of InterTradeIreland and Enterprise Ireland to link start ups with investors across the whole island of Ireland. It focuses on supporting companies that are seeking to raise financing of between €250,000 and €1.25 million, by linking entrepreneurs with individual Angel investors and investment syndicates.



HBAN National Director, Diane Roberts, said: "The angel capital industry is still at an early stage in Ireland but today's conference will add significant momentum to its development. The new investor syndicates will provide support for early stage firms, especially those in industries geared towards innovation, like information technology, medical devices and life sciences."


HBAN   expects to link around  100 early stage companies with potential investors over the coming year. "To date, we have helped to secure angel financing for a number of early stage companies in these sectors. In fact, we have already helped raise funds for more than 30 of these firms. However, from today we're looking to take a major step forward and actively increase the number of syndicates who are willing to invest in Irish early stage enterprises," Roberts concluded.



The conference was chaired by former RTE presenter Mark Little and attendees included Powerscourt Investments managing director Sean Melly; Newbay Software founder and CEO Paddy Holohan; SOS Partners investment partner Sean O'Sullivan and investment firm Par Equity partner Paul Atkinson.



Delegates were briefed on the support structures available to investors, the key criteria on which to base investment decisions, the growth in the number of available investment syndicates, and the best ways to diversify a portfolio of investments.



MargROUNDUP330.pngaret Hearty, InterTradeIreland's Director of Programmes & Business Services said: "Encouraging private investment in early stage firms has been a key strategy for InterTradeIreland since our formation. The announcement of these new groups of investors, who are actively looking for investment opportunities, will significantly increase the amount of funds available for innovative early stage enterprises on the island.


Investors and entrepreneurs alike need to be aware of the potential of the angel capital industry in Ireland, both as a means of helping to raise funds for early stage companies and, on a wider level, as a way of supporting economic growth. This potential will become ever more apparent over the coming year," said Ms Hearty.



Also at the conference, serial entrepreneur and investor Brian Caulfield was honoured as the HBAN Business Angel of the Year. Caulfield founded technology companies Exceptis Technologies and Similarity Systems, and recently completed an assignment as interim chief executive of telecoms software vendor AePONA.




Pictured at this morning's Business Angel Conference were (left-right): former RTE presenter Mark Little, Diane Roberts, HBAN national director and technology entrepreneur and Newbay Software CEO Paddy Holahan.



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