Irish Business Angels Get Internet Wings

Investors in Startup Companies Go Online With Tools Connecting Promising Entrepreneurs To Worldwide Funding

Jun 16, 2010, 07:28 ET from Angelsoft

NEW YORK and DUBLIN, June 16 /PRNewswire/ -- Today at the Inaugural Business Angel Conference in Dublin, Ireland's Halo Business Angel Network (HBAN) introduced a set of Internet-based collaborative tools that promise to greatly expand domestic and international angel investing. HBAN, a joint initiative of InterTradeIreland and Enterprise Ireland, is the umbrella organization for angel investing in Ireland.  By adopting the Angelsoft platform as the standard, HBAN is dramatically enhancing the ability of Irish entrepreneurs to attract startup investments from angel investors here and throughout the world, while providing them with everything they need to effectively manage and streamline the funding process.

HBAN joins the business angel networks in over 50 countries, including the national angel federations in the United States, Canada and, most recently, Australia, in adopting Angelsoft as the country's official Internet platform for connecting entrepreneurs with accredited angel investors and venture capitalists. In addition to deal flow management for angels, the Angelsoft tools encourage investors to mentor entrepreneurs, providing angels with unmatched solutions for managing ongoing relationships with startups. Every angel investor within HBAN's nationwide network will now be provided free access to Angelsoft's online tools as a benefit of membership.

By giving its member groups open access to Angelsoft, HBAN unifies the deal flow management systems being used, allowing investors from multiple groups across the country to pool their funds and resources in support of innovative Ireland-based startups.

Angelsoft's comprehensive software-as-a-service will now power the internal collaboration process within each HBAN-affiliated angel network, professionally showcasing opportunities for prospective entrepreneurs, and supporting sponsors and individual members. As the new standard deal flow management tool for all early-stage investing in Ireland, Angelsoft enables entrepreneurs to apply for funding throughout the country, and the world, using one unified application.

Each angel group's internal screening committee will be able to use the Angelsoft collaboration system to review and rate funding applications from aspiring entrepreneurs, while individual angel investors can use advanced Internet tools to lead deals all the way through to investment. Thanks to Angelsoft, HBAN angels can greatly shorten the time it takes to finalize an investment, while improving the due diligence research that enables them to make stronger investment decisions.

"Today's announcement by HBAN was made in the best interests of its syndicates of Irish angel investors and entrepreneurs. HBAN is responsible for the promotion of best practice in angel investing in Ireland and until today Irish investors  have not had a unified solution in place to effectively manage and streamline their angel financing activities," said Diane Roberts, National Director for HBAN.  "Angelsoft has built an impeccable track record of success with more 20,000 investors from 500 angel networks in 50 countries.  We believe a strategic partnership with Angelsoft will help  strengthen our relationships with investors throughout the world, and facilitate international investment into  Irish start ups"

"The adoption of Angelsoft by Halo Business Angel Network marks a significant step forward for Irish entrepreneurs and investors, whether in Ireland or elsewhere in the world," said David S. Rose, Founder and CEO of New York-based Angelsoft. "Through Angelsoft's powerful tools, angel investors anywhere can tap into a very vibrant start up scene in Ireland, making cross-border investing a welcomed reality."

With this partnership developed by HBAN, entrepreneurs and members of HBAN affiliated angel groups and networks throughout Ireland will receive full and immediate access to Angelsoft as part of their existing membership dues.

About Halo Business Angel Network (HBAN)

Halo Business Angel Network (www.hban.org) is Ireland's umbrella group for business angel networks. HBAN is dedicated to promoting angel investment and supporting the early stage entrepreneurial community in Ireland, working to create an eco-systems that promotes and supports early stage investment market. HBAN supports the formation of new and existing angel networks, both regionally and internationally, and within industry sectors. HBAN also acts as a voice to government, stakeholders, business and the media to promote the interests and needs of the angel and early stage investment community. HBAN, a joint initiative of InterTradeIreland and Enterprise Ireland, is the umbrella organisation for angel investing in Ireland.

About Angelsoft

Angelsoft (www.angelsoft.net) is the global provider of Internet-based solutions for early-stage investing worldwide. Angel investment groups and networks, venture capital firms, business incubators and entrepreneurs on six continents rely on Angelsoft to facilitate private equity investments into promising companies. Its award-winning collaboration tools make it easy for seed-stage investment groups to coordinate and process their deal-flow from initial contact, screening, due diligence and ultimately, through to funding and beyond.

SOURCE Angelsoft



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