• News

HBAN angel syndicate to invest €2m in west of Ireland start-ups

Tuesday, 8th March, 2016 8:15am
Jump to comments
HBAN angel syndicate to invest €2m in west of Ireland start-ups

At the launch of HBAN's WxNW syndicate were (from left): Ultan Faherty, business angel partnership coordinator, HBAN; John Mullen, chairperson, WxNW; and Ger Barry, angel investor, WxNW.

HBAN angel syndicate to invest €2m in west of Ireland start-ups

At the launch of HBAN's WxNW syndicate were (from left): Ultan Faherty, business angel partnership coordinator, HBAN; John Mullen, chairperson, WxNW; and Ger Barry, angel investor, WxNW.

HBAN, a joint initiative of InterTradeIreland and Enterprise Ireland responsible for the all-island promotion of business angel investment, has unveiled its new angel syndicate.

The West by North West (WxNW) syndicate, together with Enterprise Ireland, will invest €2 million in start-ups located around the western seaboard in 2016.

The new syndicate includes 12 business angels based in or connected to the western seaboard. These successful entrepreneurs have the experience, network and business acumen to help start-ups grow their businesses into international success stories.

Over the next year, WxNW is actively recruiting to double its number of angels to 24 and become one of the largest syndicates in Ireland.

Working with syndicates means angels have the opportunity to diversify risk by spreading their investment across a number of companies with support from other angels both in WxNW and other syndicates throughout Ireland.

HBAN’s WxNW syndicate wants to invest in west of Ireland-based and connected start-ups in sectors such as technology, manufacturing, education and tourism. The new syndicate is working closely with bodies such as Enterprise Ireland, WestBIC and the Western Development Commission to provide not only funding, but the support and access to networks to help these start-ups grow their businesses.

Through its other syndicates, HBAN has already supported a number of companies located in the area, such as Embo Medical and Capsos Medical. HBAN last year celebrated reaching the milestone of €50m invested in start-ups across Ireland and Northern Ireland, cementing an annual growth of 44% in angel investment on the island since 2008.

Business angels or start-ups interested in working with WxNW can get in contact through HBAN’s website www.hban.org, by contacting regional business angel coordinator Ultan Faherty via email on Ultan@hban.org, or by calling HBAN on (01) 6698525.

 

Keep up-to-date with the latest news from around the county with a Connaught Telegraph epaper subscription from €2*

Post a Comment

Group Publications

Cookies on Connaught Telegraph website
We use cookies to ensure that we give you the best experience on our website. We also use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on the Connaught Telegraph website. However, if you would like to, you can change your cookie settings at any time by amending your browser settings.
How does Connaught Telegraph use cookies?
Cookies enable us to identify your device, or you when you have logged in. We use cookies that are strictly necessary to enable you to move around the site or to provide certain basic features. We use cookies to enhance the functionality of the website by storing your preferences, for example. We also use cookies to help us to improve the performance of our website to provide you with a better user experience.
We don't sell the information collected by cookies, nor do we disclose the information to third parties, except where required by law (for example to government bodies and law enforcement agencies).
Hide Message