The Halo Business Angel Network has closed out its first year of operation in Northern Ireland with over £2m invested in 11 local companies.
Investment syndicate Halo Business Angel Network stepped up its investment in Irish startups back in January when it announced plans to invest up to €15m in business in Ireland and Northern Ireland. The group has gone on to make several key investments in high-growth firms based in Northern Ireland, including cyber-security firm Uleska and disruptive sports facility booking firm Pitchbooking.
The joint initiative is a collaboration between Invest Northern Ireland, InterTradeIreland and Enterprise Ireland to help promote all-island investment, and Northern Ireland has certainly benefitted. It hit an important €100M investment milestone across the island of Ireland back in November in addition to kicking off investment in Northern Ireland this year.
Following its first year of operation in Northern Ireland, HBAN has announced that it's closed in on £2m invested across 11 local companies. The group ran several pitching events throughout the year targeting businesses in a wide range of sectors, from software development to the agri-food industry, and even haircare products. Around one in three companies pitching to HBAN was successful in securing funding.
HBAN's All-Island Director John Phelan commented on the successful first year in Northern Ireland: "This investment reflects the active and flourishing start-up community in Northern Ireland, as well as the quality of businesses pitching to our angel investors. At HBAN, we work closely with start-ups to ensure they are investor-ready by the time they go to our angels and syndicates to seek investment. As a result, one-in-three companies that pitch receives funding."
Claudine Owens, Portfolio Manager at Clarendon Fund Managers, added: "HBAN not only gives companies the opportunity to pitch for business investment but the access to supportive investors with knowledge and entrepreneurial experience to take their business to the next level is invaluable. We would encourage companies looking to grow to get in touch to see how they can pitch at our next event."
Source: Written based on press release. For more information, head over to https://www.hban.org
