HBAN-DIA collaborate to invest nearly USD 3.75 mn in Irish firms

Halo Business Angel Network (HBAN), an Ireland based dedicated, all-island umbrella group for business angel networks, has recently announced that it has inked its first overseas partnership with the Digital Irish Angels (DIA) Syndicate. Reports reveal that HBAN's new partnership with the New York-based DIA will enable the syndicate to support and invest in early stage companies that are focusing to expand their business across the United States.

For the record, HBAN is a joint initiative of the InterTradeIreland and Enterprise Ireland that is responsible for the promotion of business angel investments. DIA on the other hand, is a partnership between the Digital Irish Group and HBAN, that promotes and supports emerging Irish start-ups. Reports claim that the Digital Irish has invested in several start-ups including Video Elephant,Deposit, Brightflag, Sytorus, and ProVerum Medical.

It has been reported that the DIA syndicate has more than 20 investors and plans to invest in 4 to 5 companies every year with an investment of about USD 150,000 to USD 250,000 in each deal, in the coming timespan of three years. According to sources, the Irish-US entrepreneurs are looking forward to investing majorly in Irish companies that are ready to enter the US market. The investors, according to reports have a particular focus on the emerging businesses & start-ups in the media, fintech, and technology sectors.

The National Director of the Halo Business Angel Network, Mr. John Phelan, was quoted saying that the HBAN & DIA partnership bears testimony to the authenticity of two pivotal pointers – the efforts of the network in deeming companies suitable for major investments, and the high-grade quality of start-ups in Ireland.

Experts familiar with the matter also state that several start-ups that have received funding in the last decade have crossed major frontiers in terms of success – both, in terms of revenue and popularity.