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Tuesday 6th October 2015
John Phelan
Supported by: Members:
Evolving Business Angel Landscapeon the island of Ireland
@HaloIreland
Halo Business Angel Network (HBAN)HBAN is the all-island umbrella group responsible for the promotion of
Business angel investment & the creation of business angel syndicates
HBAN Syndicates & Individual Forums
Boole Syndicate Bloom Equity Irrus Investments SE Syndicate WXNW Syndicate Food Syndicate MedTech Syndicate Other new syndicates under development -
geographical/sectorial www.hban.org
Resources
- Syndicate Guide- Angel & Entrepreneur booklets- Lead Angel Guide- Syndicate Charter
Angel Investing on the Island
Angel funds€9.5mOt
her Lever-aged funds€20.5m
Total €30M Angel & Other leveraged funds through Angel Networks in Ireland in 2014
€9.5m Angel Funds 48 unique deals in 2014 Average Angel investment per deal €197k Average deal value €625k
www.hban.org
Sectors invested
Ireland USMobile, Internet and Software 45% 52%Healthcare & Medical devices 20% 21%
10%8%
6%
20%11%
45%
Ireland Sector Breakdown
Consumer ProductsEnergy & UtilitiesFoodHealthcare & Medical DevicesIndustrial ProductsMobile, Internet & Software
What to look for in an investor?
www.hban.org
Smart Money
How can the investor add value? Strategic guidance Financial Guidance Market Access As a board member Deep industry understanding
Role & timing of the Investor commitment IF a syndicated deal
What to look for in an investor?
www.hban.org
Previous experience as a business angel
Understand the motivation of the investor
Ensure investor goals are reasonably aligned with other investors
Understand ability of the investor to provide follow on funding
The Boole Syndicate Founded in 2011 18 members Generalist type of Syndicate – with regional focus 16 deals done, close to €2m invested – with 4 follow-on
rounds ICT MedTech Food Digital Media Consumer products
Average Angel investment €20k upwards
Why A Syndicate?Syndicate Benefits Share Risk – diversified
portfolio approach
Pooling of economic resources –ability to invest in more or larger deals
Pooling of skills, contacts and experience Share Workload – greater
due diligence
Capable of reviewing more companies – higher quality investment opportunities
Success Correlated with Domain Expertise
Level of involvement
Level of Due diligence
Strong Entrepreneurial Eco-System
Portfolio Approach
Nesta Report 2009 – Siding with the Angels
9% of deals give 10X return 56% deals <1x return!
How HBAN brings value to the syndicate
Syndicate Charter
Sourcing of companies for syndicate meetings
Companies prepared for pitching - frequently in partnership with Irish BICS
Sample Term Sheet & Supporting Guidance Notes
Online software portal (GUST)
Long-term objective is to have Syndicates self sustaining
Recent exits
Further resources available www.hban.org/resources HBAN’s YouTube Channel (http://tinyurl.com/HBANYouTube)
Including resources from EBAN Congress 2014 Dublin Twitter @HaloIreland
www.hban.org
Sample deals done
Tuesday 6th October 2015
Supported by: Members:
HBAN LOCAL CONTACTS:
Michael Maddock: [email protected] Shine: [email protected]
Cormac Coade: [email protected]
@HaloIreland
