Business Irish

Thursday 18 October 2018

HABN’s South East Syndicate to invest €10m in local start-ups

Aidan Shine, HBAN Coordinator for South East Region
Aidan Shine, HBAN Coordinator for South East Region
Ellie Donnelly

Ellie Donnelly

HBAN, the group backing business angel investment in Ireland, has announced that investors in its South East Business Angel Network (SEBAN) plan to invest €10m in start-ups from the region over the next three years.

HBAN’s South East angels have a wide variety of backgrounds, and are interested in companies from a range of sectors including technology, agriculture, food, manufacturing and tourism.

As well as providing funding, the angels provide support and access to their networks to assist these start-ups in growing their businesses into success stories.

"A key part of our success is the fact that companies that pitch for investment to our angels have been vetted, prepared and confirmed as investor-ready, high potential start-ups by HBAN," Aidan Shine, HBAN coordinator for the South East Region, said.

Part of a joint initiative between Enterprise Ireland and InterTradeIreland, SEBAN has invested more than €6m in a total of 38 deals across companies in the ICT, manufacturing and food sectors, with a focus on, but not restricted to companies located in, or connected to, the South East.

The syndicate has only five angel investor places left for its regular investor forums and pitching events, and is looking to recruit successful business people and entrepreneurs with the knowledge, expertise and insight to enable local start-ups to grow and scale their businesses, and achieve national and international success.

"Angel investors fill an important gap in the start-up ecosystem in Ireland, as this type of investment offers support and guidance as well as funding, so it’s smart money. Getting new investors is a priority for HBAN’s South East Syndicate. We would strongly recommend that any potential investors get a real sense of what SEBAN in about by test-driving the experience at one of the regular forums and pitching events," Mr Shine said.

Last month it was announced that HBAN Ireland plans to increase the amount invested in Irish start-ups to €25m per year by 2020.

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