Eleven fast growing businesses have secured £2m of funding from HBAN Ulster Business Angels during its first year of operation in Northern Ireland.
HBAN (Halo Business Angel Network) is a joint initiative of Invest Northern Ireland, InterTradeIreland and Enterprise Ireland, dedicated to the all-island promotion of business angel investment. HBAN allows companies from a wide range of sectors to pitch to angel investors for funding. Currently, there are over 60 registered members in Northern Ireland.
John Phelan, All-Island Director of HBAN, commented: “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.
“Angel investment is very powerful in helping businesses leverage additional funding from other sources. We look forward to further supporting the Northern Irish economy by helping more local businesses access crucial investment in the future.”
Jim Curran, Partner at Clarendon Fund Managers, said: “Over the past year, we have held six pitch events for businesses across a wide range of sectors. They’ve ranged from software firms to glamping pods to haircare products and gin manufacturers. Investments into eleven companies have been completed in the first year and these companies together have raised £9m of investment.”
Claudine Owens, Portfolio Manager at Clarendon Fund Managers, said: “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.”