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Business Angels Leaders Forum Agrees To Create The World Business Angels Association

Participants from 5 continents, meet in Estoril, to fill the world equity gap


On 10th October, 2007 in Estoril, Portugal, the members that participated in the Business Angels Leaders Forum, co-organized by FNABA (Portuguese Business Angels Federation), EBAN (European Business Angels Network) and ACA (Angel Capital Association), from US, decided to create the World Business Angels Association, effective January the 1st,2008.

The meeting was sponsored by IAPMEI (Portuguese SMEs Agency), DNA CASCAIS (Entrepreneurship Cascais Municipality Agency), INOVCAPITAL (Portuguese Venture Company), and Gesventure (Portuguese Fund Raising Company).

Antonio d’Orey Capucho, Mayor of Cascais, said “I am very happy to welcome this international community, in Cascais Municipality, as part of our initiative to drive the entrepreneurial economy in Europe”

This event took place under the EU Portuguese Presidency, and Jaime Andrez, President of IAPMEI, closing the event, declared “This is an important step for developing Business Angels community worldwide, and the Portuguese EU Presidency, will promote this movement in the next EU Competitiveness Ministers Council, to be held in Portugal, in November”

The following regions were represented by the associations :

-North America, through ACA

-Europe, through EBAN

-Arab Countries, through ABAN (Arab Business Angels Network)

-North Africa

The following countries/regions were present :

Cape Verde
United Kingdom


“To have representatives from 5 continents, from more than 30 countries, was a big challenge for FNABA, EBAN and ACA. I am very happy with the outcome, that exceeded our best expectations. I am sure that this event and the outcome, will increase the Business Angels Community in Portugal, and in the world”, said Francisco Banha , FNABA’s founder and President.


The participants considered that :

-The Business Angels worldwide activity helps to build up the proper environment for financing innovation and entrepreneurship.

-It is important to know and disseminate the proper tools for financing innovation and entrepreneurship, available worldwide, in order to promote start up companies, with support of Business Angels.

- It is important to establish partnerships between Angels networks from different countries, including cross border investments.

- It is important for policy makers worldwide, to use information gathered by the Business Angels community, and to foster their capacity to create and develop financing mechanisms, in a public-private partnership logic, to support innovation and entrepreneurship.

“EBAN considers that this event will become the cornerstone for development of a vigorous Business Angel community at the international level. I would like to thank FNABA, the Portuguese Government, and Cascais Municipality and the sponsors who have made this event possible” , stated Anthony Clarke, President of EBAN.

The World Business Angels Association, will have the following objectives:

  • Raise awareness across the world, of the importance and practice of Business Angel investment;
  • Support members in their reflection, initiatives and statements, namely spreading the concept of early stage investing in private companies by individuals;
  • To hold an annual event for the world membership;
  • Create a web portal to disseminate information and facilitate communication among the members;
  • To scan, collect and disseminate worldwide through the website, relevant information in order to pursue worldwide best practices on business angel financing innovation and entrepreneurship;
  • Study the feasibility of enhancing cross-border investments with the participation of several Business Angels;
  • Promote sharing of information and knowledge on good practices by Business Angels;
  • Contribute for the sustained development of society, promoting all Business Angels resources available to support innovation and entrepreneurship.

John May, Chairman of the world largest association of Business Angels groups, stated :” We recognize that no longer, can one country or one BAN (Business Angels Network)  of angels, stay on top of innovation and entrepreneurial energy, without considering the rest of the world. We welcome the opportunity, to be co-organizer of this innovative, groundbreaking global event. We look forward to participating in future organizational efforts”.

Portugal, Estoril, 10th of October 2007

For more information, please contact:

EBAN - claire.munck@eban.org

ACA - john@angelcapitalassociation.org

FNAB - info@fnaba.org


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