Home Personal Finance Angel investments are above pre-pandemic ranges, HBAN says

Angel investments are above pre-pandemic ranges, HBAN says

Angel investments are above pre-pandemic ranges, HBAN says

Gary McDonald Enterprise Editor

October 30, 2021 1:00 am

ANGEL’s investments in Irish startups at the moment are greater than they had been earlier than the pandemic and are thriving, in accordance with figures from a enterprise angel community.

Angels are stated to have invested £ 7 million in start-up companies within the island of Eire within the first half of this yr, up 13 % from the identical time earlier than the 2019 pandemic.

And HBAN (Halo Enterprise Angel Community), the cross-island group liable for selling enterprise angel investments, says round £ 338 million has been pumped into startups by way of its community since its inception.

In response to HBAN, a joint initiative by Enterprise Eire, InterTradeIreland and Make investments NI, the variety of startups funded in Eire between January and June rose from 29 to 37.

The extra funds leveraged by HBAN investments reached £ 32 million – a rise of 128 % from 2019.

And at £ 274,600, the typical funding by angel teams in every funding spherical can be properly above the 2019 common of £ 212,000.

Particular person Angels every invested a mean of £ 37,000, with many collaborating within the £ 21,000 part which is extra accessible to these contemplating their first Angel investments.

John Phelan, HBAN’s All-Island Director, stated: “We’re happy to announce that Angels’ investments within the island of Eire are rising regardless of the challenges the Covid pandemic continues to pose for companies and buyers.

“We’ve seen earlier than that instances of disaster instill entrepreneurship, and the primary half of this yr is testomony to the standard of the start-ups reaching out to our angel buyers.

“To maximise the potential return on funding for our Angels, each firm is evaluated and sorted by our workforce to make sure that it’s prepared for buyers earlier than pitching.

“Apart from funding, the rise in angel exercise bodes properly for startups in Eire as angel buyers additionally present industry-specific recommendation and contacts which are so essential to firms of their early years.

“Angel investing can be essential to assist startups leverage funding from further sources that they might in any other case not have entry to.”