Irish business angels pass €100m investment milestone

Investors associated with the Halo Business Angel Network (Hban) have now ploughed more than €100 million into Irish start-ups,.

This marks a doubling of the €50 million milestone reached by business angels just four years ago.

Established in 2007, Hban is a joint initiative of InterTradeIreland and Enterprise Ireland that serves as a go-between to bring start-ups and investors together. Key sectors include ICT, healthcare, consumer products and food.

Approximately 150 companies pitch to investors each year via the network with one-in-three typically receiving funding as a result

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Recent research carried out by Hban found that the average business angel has invested in an average of 4.7 companies, usually as part of a syndicate.

"Our research shows that the business angel community is very active. 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," said John Phelan, national director of Hban.

Among the start-ups to recently receive funding via Hban are Buymie, Signum Surgical and Deciphex.