HBAN Partnering With New York Investor Group

24 Jan 2018 | 09.11 am

HBAN Partnering With New York Investor Group

'Digital Irish Angels' tapped for Ireland investments

24 Jan 2018 | 09.11 am

The Halo Business Angel Network (HBAN) has tied down its first overseas partnership, enabling it to invest in and support early stage Irish companies with a US market focus.

HBAN, which is a joint initiative of Enterprise Ireland and InterTradeIreland, is partnering with Digital Irish Angels (DIA) Syndicate, a New-York-based venture with more than 20 investors.

DIA was co-founded in New York in 2013 by a team that included Feargall Kenny and Mary Ann Pierce. Its cadre of investors have backgrounds in finance and technology. Kenny, who is originally from Dublin, also founded and runs Glenborn Corporation, an executive search firm in the states. Pierce founded and runs MAP Digital, which provides digital platforms to enhance meetings and events.

DIA focuses on promoting Irish startups and is looking to invest in firm that want to expand into the US market. The investors are particularly focused on startups in the technology, media and fintech sectors.

Over the next 12 months, HBAN’s New York-based syndicate aims to invest in four to five Irish companies, providing funding and other supports. To date, DIA’s portfolio of Irish startups that it has invested in include Video Elephant, Brightflag and Deposify.

John Phelan, national director of HBAN, said that there is increasing interest Irish diaspora around the world, particularly in the US, to become involved in angel investing in Irish startups.

“The lead angels of our New York syndicate are successful entrepreneurs who have the knowledge, contacts and expertise to help Irish companies enter the US market and grow into international success stories,” he added.

Feargall Kenny also noted that there is an affinity with, and appetite for, investing in high-potential, Irish companies among Irish-American business angels in the US.

“Irish startups are realistically investor-ready for this group of business angels when they have raised private seed or Series A investment in Ireland and have already established a footprint in the US.”

Over the next three years, DIA said that it aims to invest $150,000 to $250,000 in four to five Irish companies per year.

 

Photo: (from left) John Phelan, Feargall Kenny and Ciarán Madden, Consul General of Ireland in New York (Pic: James Higgins)

Comments are closed.