As of right now an additional amount of close to €7.5-million has been injected into the Angel funding network and is now available for any Irish start-ups looking to finance their business ambitions. Along with the money, business owners will find themselves with an open-door way straight into the massive UK, US and Asian markets. All of this has transpired as a result of Irish company HBAN (The Halo Business Angel Network) announcing that it has been crowned as the Globally Network Organisation of 2018 at the recently held European Business Angel Network (EBAN) Awards in Bulgaria at the end of June.
The Recognition Opens Some Doors
The accolade comes as a recognition of the work being done by the Angel network to expand its financing framework by launching three new angel networking syndicates in Singapore, London and New York throughout the year. HBAN investors from the three mentioned syndicates are currently injecting funds straight into the Angel Network and have managed to collectively invest about €3.5-million into five companies in Ireland. These companies include a new investment app called Rubicoin, a financial deposit management company called Deposify as well as the financing of new medical devices through ProVerum Medical. Once these investments came through they were successfully leveraged to raise a further €7.5-million.
Start-ups With Potential Have A Shot
According to a statement issued by the national director of HBAN, John Phelan, access to financing and private equity contributions is extremely vital for the Irish business ecosystem. He further went to boast about the new syndicates, exclaiming that their presence was good for Irish start-ups as they provided the opportunity to now leverage off these networks to access intentional angel investors looking to gain access to the Irish market. It is quite clear that the team at HBAN is rather serious about drawing in investors, this proves to be rather good news for ambitious prospective Irish entrepreneurs with a start-up idea