BMW seminar will explore early-stage equity opportunities for Business Angels
By Joan Fahey, November 16, 2009
Private investors, on the look-out for equity opportunities in fledgling companies in the Border, Midlands and West (BMW) region, have been invited to attend a high-powered seminar in Galway later this month.
In the USA, "business angels" provide more equity to early-stage business than venture capitalists, and now a major push is underway to promote a similar model here. At a special seminar in Galway on November 23rd, the Halo Business Angel Partnership will outline how would-be investors can get involved in high-potential new companies, through investing funds and also contributing their invaluable business acumen. The theme of the seminar will be Success, Ambition and Opportunity.
“For people who would like to invest money and expertise, the prospect of getting involved with a high-potential early-stage company holds a lot of attractions,” explained Gerry Mackey of the Halo Business Angel Partnership. “They get access to ambitious, early-stage companies with strong growth potential. It gives them an opportunity to use their vast and varied business experience to assist those companies reach their full development potential. “Our experience in the Halo Business Angel Partnership is that there is a strong cohort of people out there who have money, time and expertise to invest. But they must first be convinced of the suitability of an early-stage company, and our task is to make suitable matches, so to speak.”
Minister for Labour Affairs Dara Calleary will open the seminar – Private Equity Opportunities in Early-stage Companies’ – in the Ardilaun Hotel, Galway, on Monday, November 23rd (2-4.30pm.) Among the speakers will be representatives from four businesses from the BMW region who are currently taking part in the Business Angel process, and hoping to soon obtain Business Angel support.
The various legal and financial issues associated with business angel investment will be teased out by industry experts Laura Lynch (Director, Mazars Tierney Accountants) and JP Gilmartin (RDJ Glynn Solicitors.) Cathie Hynes from Enterprise Ireland will also address the seminar. There will be networking opportunities for all who attend. “The seminar is not a ‘pitching day’ by early-stage businesses. It is more to illustrate to potential investors that there are opportunities in the BMW region, and investors, or their professional advisors, will get a flavour of those opportunities on the day,” added Mr Mackey. “Absolute discretion is guaranteed, of course. Investors who are already involved in the business angel network know we only present them with viable opportunities.
“Nationally, 34 private equity deals were initiated by the Halo Angel Business Partnership over the past three years. This brings the total Business Angel investment up to almost €6m. “Of these, seven occurred in the Border, Midlands and West region, which illustrates the activity in the region. The level of financial support ranged from €40,000 to €700,000. “In most cases, the angels also became involved in the business. That is where the real added value can occur.” Said Minister Calleary: "I am delighted to be associated with this seminar. It will help to stimulate further economic development in the BMW region in a very challenging economic time."
"The whole business angel model has great potential to support economic development in Ireland. Early-stage businesses need support across a wide variety of fronts, not least of which is the expertise and intellectual capital that experienced businesspeople can bring."
Anyone would like to attend the seminar should contact Gerry Mackey at gmackey@westbic.ie
About the Halo Business Angel Partnership:
- The Business Angel Partnership is the new national business angel network in the Republic of Ireland bringing together the private equity activities of Enterprise Ireland, InterTrade Ireland and the Irish Business and Innovation Centres, including Westbic in the BMW Region.
- A key objective for the Business Angel Partnership is to develop and foster the growth of private equity and business angel activity in Ireland. They do this by matching private investors with pre-screened investment opportunities in start-up, early stage and developing businesses.
- In this way they alleviate the ongoing difficulty faced by early-stage and growing companies who find it difficult to raise funds on reasonable terms. They also offer alternative investment options to investors interested in getting involved in companies with growth potential.
- Gerry Mackey is the regional manager of the Halo Business Angel Partnership in the BMW region. Its offices are located in the Westbic premises, Galway Technology Centre, Mervue Business Park, Galway.
FOR MORE DETAILS, contact:
GERRY MACKEY, Halo Business Angels Partnership
Tel: 091 730850 / 704 830 Email: gmackey@westbic.ie
LIAM HORAN, Sli Nua Communications, Tel: 094 95 42965
Mobile: 087 9185 867, Email: liam@slinuacommunications.com
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