InterTradeIreland - Delivery Agent for HBAN Programme

Tender description

In 2009, InterTradeIreland and Enterprise Ireland established a new ‘arm’ of the Halo business angel network. This new extension of the Halo network was given primary responsibility for the creation of new business angel syndicates or investment groups. This new organisation was simply named HBAN. To date, HBAN have delivered €2.15m in direct syndicated investment in 9 companies and this has leveraged €4.3m in additional investment. To date 6 syndicate investor groups have been set up. Under this pilot phase, HBAN has largely been operational in the Republic of Ireland only. The HBAN programme has been modelled on the LINC Scotland syndication model. Typically, HBAN aims to secure investment above the €250k level. InterTradeIreland have now agreed to fund the HBAN programme for a further three years. This new funding phase will incorporate a strategic move for HBAN with plans for syndicates to operate on an all island basis including opportunities to develop all island sectoral and generalist cross border syndicates or investment groups.