Posted on Tuesday 22 January 2013 by Ulster Business

Watts1

Getting the haggis ready for Burns Night and a partnership with LINC Scotland is Alan Watts, Director of Halo, the business angel network.

Halo, the Northern Ireland business angel network, has joined its equivalent organisation across the water, LINC Scotland, it was confirmed today.

In an unusual move, Halo has been made an ex-patria member of the national organisation for business angels in Scotland, complementing its already strong connections with LINC angel groups.

Alan Watt, Director of Halo, said: "It's highly appropriate that Halo in Northern Ireland celebrates Burns Night with a tie-up with our equivalent network in Scotland! We are delighted with the arrangement, which we believe will be very beneficial to investors and businesses on both sides of the Irish Sea.

"Halo's role is to match companies with growth potential to high net worth individuals – angels - who may wish to invest in them. We have recorded over £4.5m worth of investment since 2009 and our relationship with LINC will help us boost that figure in 2013.

"While Halo is primarily focused on angel funding for NI companies, selected Scottish companies also pitch and there is a two-way flow of money between Scotland and NI. Halo is also developing links to facilitate the syndication of later angel deals between Scottish and NI angel groups."

Halo, which is based at the NI Science Park, is open to all Northern Ireland companies except those operating in property or straight retail, and will look at all stages, from start-up to established businesses, as well as both technical and non-technical companies.

David Grahame, CEO of LINC Scotland, said: "Our experience of working with Halo has been a very positive one and we see this partnership, unusual as it is, as being of great benefit to angels, and growing businesses, east and west."

LINC currently has 18 member groups and aspires to help launch at least five more over the next two years. Around half of the partners of the Scottish Co-Investment Fund are member groups and these have delivered more than 75% of the investment deals for that fund.

LINC is also an original co-signatory with the Scottish Investment Bank (SIB) of the master agreements covering the Scottish Seed Fund and the Scottish Co-Investment Fund, both of which largely operate in the 'pre-bank' sector of the market.

 

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