Halo Business Angel Network is an all-island umbrella group responsible for the development of business angel syndicates on the island of Ireland. HBAN is actively working to increase the number of angel investors who are interested in investing in early stage technology, MedTech, AgriTech & food companies and supporting the early stage entrepreneurial community.
Business angel investors are high net worth individuals who provide smaller amounts of finance (typically in the range €50,000/£40,000 to €250,000/£200,000) at an earlier stage than many venture capital funds are able to invest. They are increasingly investing alongside both seed venture capital funds and government agency funding on the island.
The growing role of business angels as catalysts in many start-up companies is now well recognised in Europe including the island of Ireland. It is worth noting that much of the business angel community is 'ad-hoc' involving family, friends and private individuals investing directly in start-ups but not as part of any formal network.
However we have some way to go in comparison with the US, where business angel investment is equivalent in scale to all Venture Capital investment in the economy. The formalisation of business angels into Business Angel Networks ('BANs') and the creation of business angel syndicates are reflecting best practice internationally.
HBAN works regionally in partnership with the Irish Business Innovation Centres (BICs) in Dublin, Cork, Waterford and Galway and with Halo Northern Ireland, who each run local angel networks.
HBAN, which is a joint initiative of InterTradeIreland and Enterprise Ireland, also acts as a voice to Government, stakeholders, business and the media to promote the interests and needs of the angel investment community.