HBAN is hitting Dublin, Cork, Waterford and Galway in a 48-hour period in November to raise €6m for a new fund, as well as securing €10m for 12 early-stage businesses.
Halo Business Angel Network (HBAN) is hoping to double the amount of funding from the €3m it raised last year in a similar 48-hour dash.
Business angels are private investors and seasoned business people who invest equity, time and experience into helping promising young companies to develop.
‘There are thousands of early-stage companies in Ireland looking not just for funding, but also the right expertise to help them scale’
– JOHN PHELAN
HBAN hopes that an additional 27 investors with combined funds of approximately €6m will sign up to become members of the business angel network at the recruitment drive.
Quality deal flow for business angels
The organisation aims to sign up 10 angels in Dublin, seven in Cork and five each in Waterford and Galway. Industry expertise of interest includes IT, telecommunications, food and beverages, digital marketing, medtech, agritech and nutraceuticals.
The Roadshow will also give 12 start-ups the chance to pitch to current business angels, as well as angel syndicates, for their investment and expertise. Combined, the companies are seeking more than €10m in funding.
“The Business Angel Roadshow gives us a chance to show potential investors the value of angel investing and the quality of deal flow that HBAN provides to the network,” explained John Phelan, national director of HBAN.
“There are thousands of early-stage companies in Ireland looking not just for funding, but also the right expertise to help them scale.
“We have seen ourselves how valuable angel investing is to companies and now we need more angels to invest in Ireland’s promising start-ups and our economic future.”
Statistics from the European Business Angel Network show that on average, businesses’ top lines increase by 150pc within three years of investment.
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