Halo Business Angel Network Halo has announced that business angels invested €16.8 million in 66 Irish start-ups in 2019.

HBAN (Halo Business Angel Network), the all-island organisation responsible for the promotion of business angel investment, and an initiative of Enterprise Ireland, InterTradeIreland and Invest Northern Ireland, has announced that business angels invested €16.8 million in 66 Irish start-ups in 2019.

phelan
HBAN’s annual report reveals that the investments leveraged a further €36 million from other public and private funds, bringing the total funding in these deals to €52 million. The average investment last year was €255,000 – almost a fifth (18%) higher than the 2018 figure of €215,000. When investment from other sources is included, this is an average investment of €780,000 per company.

The most popular sector for business angel investments was information and communications technology (ICT), with 25 deals completed. The MedTech sector also proved to be particularly attractive to HBAN angels, with the Irrus, Boole and the MedTech syndicates investing a total of €5.5 million in 10 major deals. Start-ups in other industries also received angel funding, including health and beauty, product manufacturing, fintech, life sciences, artificial reality and virtual reality as well as food and beverages.

In two of the largest deals of the year, medical device start-ups CroíValve and AventaMed each received angel investments of €1.5 million, bringing their total funding rounds to €2.1 million and €3.2 million respectively.  

Dr. Colin Henehan, HBAN MedTech Syndicate member, said: “As a HBAN angel investor, I meet some of the most innovative and high potential MedTech companies. Being part of a syndicate gives me the opportunity to invest alongside Irelands leading business angels and leverage their sectoral knowledge and experience. For me, pooling investments with other business angels is not only a way to de-risk my investment, it is a more enjoyable and engaging experience.” 

John Phelan, all-island director, HBAN, said: “What’s clear from our report is a continued confidence in the potential of start-ups. We have been delighted that other funds, both public and private, have joined angels in supporting these businesses. It really reflects the value that angels bring to funding, and is also a testament to the quality of start-ups that we introduce to our angels.  “2019 has been another year of continued growth for business angel investment in Ireland, having exceeded our angel recruitment targets as well as hitting our €100 million funding milestone. We’re looking forward to engaging with and recruiting more angels in 2020, beginning at our upcoming conference.” 

Source:  Irish Tech News

 

 

Share

JOIN OUR MAILING LIST

Contact Us

South East BIC CLG.
Unit 1B, Industrial Park
Cork Road, Waterford
X91 DT38

Tel: +353 51 356300

Social Share

Our Partners

 

 

We use cookies to improve our website and your experience when using it. Cookies used for the essential operation of the site have already been set. To find out more about the cookies we use and how to delete them, see our privacy policy.

I accept cookies from this site.

We use cookies to improve our website and your experience when using it. Cookies used for the essential operation of the site have already been set. To find out more about the cookies we use and how to delete them, see our privacy policy.

I accept cookies from this site.