John Phelan, HBAN

1. Tuesday 6th October 2015
John Phelan
Supported by: Members:
Evolving Business Angel Landscape
on the island of Ireland
@HaloIreland

2. 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

3. Angel Investing on the Island
Angel funds
€9.5m
Other Leveraged
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

4. Sectors invested
Ireland US
Mobile, Internet and Software 45% 52%
Healthcare & Medical devices 20% 21%
10%
8%
6%
20%
11%
45%
Ireland Sector Breakdown
Consumer Products
Energy & Utilities
Food
Healthcare & Medical Devices
Industrial Products
Mobile, Internet & Software

5. 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

6. 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

7. 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

8. 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!

9. 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

10. 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

11. Tuesday 6th October 2015
Supported by: Members:
HBAN LOCAL CONTACTS:
Michael Maddock: mmaddock@southeastbic.ie
Aidan Shine: aidans@hban.org
Cormac Coade: cormacc@hban.org
@HaloIreland