Ireland’s Halo Business Angel Network (HBAN) has adopted a web-based software suite called Angelsoft as its primary method of providing management software as well as acting as a platform for collaboration between the angel community and entrepreneurs.
Just adopted by HBAN, Angelsoft is a Software as a Service (SaaS) tool already used by angel communities in the US, Canada and Australia.
All Angle investors who are part of the nationwide HBAN network here in Ireland will now have free access to Angelsoft and its various online tools as part of their membership.
Meanwhile this service will allow entrepreneurs to apply for funding online using one unified application.
This way each angel group’s internal screening committee will be able to use the collaboration system to review and rate finding applications from potential start-ups while individually the angel investor can used the web tools to lead deals from beginning through to investment.
"Today’s announcement by HBAN was made in the best interests of its syndicates of Irish angel investors and entrepreneurs. HBAN is responsible for the promotion of best practice in angel investing in Ireland and until today Irish investors have not had a unified solution in place to effectively manage and streamline their angel financing activities," said Diane Roberts, national director for HBAN.
"Angelsoft has built an impeccable track record of success with more 20,000 investors from 500 angel networks in 50 countries. We believe a strategic partnership with Angelsoft will help strengthen our relationships with investors throughout the world, and facilitate international investment into Irish start-ups," she added.
Founder and CEO of the New York-based Angelsoft David S Rose said that the web-based tools were a way for angel investors anywhere to "tap into a very vibrant start-up scene in Ireland, making cross-border investing a welcomed reality."