A new London-based angel investment syndicate is to invest €3m in Irish start-ups over the next three years.
HBAN’s London syndicate, a result of its partnership with the New York-based Digital Irish Angels (DIA) syndicate, supports the creation of an international network with an affinity to Ireland.
Up to six ambitious Irish companies with eyes for international expansion will see investment from the syndicate over the next 12 months.
These early-stage companies can expect access to contacts and a degree of mentorship, in addition to financial support, to help them grow.
Led by entrepreneur Harry McDermott, the UK-based syndicate has already recruited more than 10 experienced investors from background including finance, technology, telecoms, medtech and fintech
“There is a real appetite among the London-based Irish community to invest in high potential Irish start-ups, particularly in the technology and medtech sectors,” said McDermott.
“The key factors for our members to invest are the global potential of the company, having a lead investor in the deal and the Seed Enterprise Investment Scheme (SEIS).”
McDermott said that a crucial advantage for the investors joining the London syndicate is that it is HBAN-managed.
“This means that the companies that pitch to our members have been sourced, vetted, prepared and confirmed as investor-ready, high-potential start-ups by HBAN.”
HBAN’s National Director John Phelan,said that the international syndicates are a testament to the quality of Irish start-ups with global ambitions.
“The launch of a second overseas syndicate is a significant step towards HBAN establishing a global business angel network that has an affinity to Ireland, and we wish to further develop connections with the international investment community,” he said.
“New York and London are key locations and advanced discussions are already in place to launch new syndicate partnerships in other locations.”