Race is on to raise €7m in angel investment in just one day

Halo Business Angel Network looking to sign up 35 new business angels on February 8th

HBAN angels have invested over €80 million in Irish start-ups over the last 10 years.

HBAN angels have invested over €80 million in Irish start-ups over the last 10 years.

 

The Halo Business Angel Network (HBAN), which serves as a go-between to bring start-ups and investors together, is looking to raise €7 million in funding in just 24 hours early next month.

It plans to sign up a record 35 new business angel investors at its national conference on February 8th to help fund Irish start-ups looking to expand into new markets.

HBAN, which is a joint initiative of InterTradeIreland and Enterprise Ireland, is targeting new angels who are looking to invest in high-potential start-ups and those looking to create de-risked portfolios with like-minded investors.

Last year, the organisation raised €6 million from investors at a series of business angel roadshows in two days.

The organisation’s national conference, which will also see the largest gathering of business angel syndicates in Ireland, will feature a number of keynote speakers including “super angel” Christopher Mirabile, managing director of Launchpad Venture Group, serial tech entrepreneur Peter Cowley and New York Digital Irish founder Feargall Kenny. There will also be a number of panels covering everything from how to join a business angel syndicate to portfolio management, due diligence and exit strategies.

HBAN, which recently marked its 10th anniversary, is looking to double the number of angel investors in Ireland with the aim of increasing the amount going into start-ups to €25 million a year by 2020.

HBAN angels have invested over €80 million in Irish start-ups over the last 10 years. When the €124 million invested by other funds in those agreements is taken into account, this brings the total invested to €204 million.

In 2016, €13.6 million was invested by HBAN angels, a 25 per cent increase on the amount invested the previous year.

“We expect to have more than 200 attendees at the conference,” said HBAN’s national director, John Phelan. “It’s a great opportunity to showcase some of HBAN’s success stories and highlight the quality of deal flow that it provides to the network. It also gives prospective and existing HBAN members the chance to meet other members of the network’s business angel community and learn about the opportunities for angel investing in Ireland.”