The World Business Angels Association was founded by 12 leaders of federations of business angel networks around the world.

The idea is to create the first international community of business angel networks and leaders for the promotion of innovation and entrepreneurship through the financing of high growth start-up companies with the support of Business Angels worldwide.

This initiative was put forward by representatives of business angels networks across the world that attended the Business Angels Leaders Forum in Estoril, Portugal, on October 10th 2007. The meeting took place in the framework of the EU Portuguese Presidency, and was co-organized by FNABA (Portuguese Business Angels Federation), EBAN (European Business Angels Network) and ACA (Angel Capital Association) from the USA. This event represented a turning point for the development of the business angel community, since it laid the ground for the current World Business Angel Association WBAA, which officially started its activities in 2009.

Having representatives from 5 continents, and 11 different countries, WBAA is a truly international initiative. Its launch is set for April the 19th 2009 on the occasion of the first meeting of its Charter Member representatives in Dubai. Following this event, the association will open its membership to other networks and organisations interested in having a link with the largest community of angel investors worldwide.

As stated on the occasion of the first Business Angels Leaders Forum in Portugal in 2007, the reasons for the creation of WBAA are as follows:

• The business angels worldwide activity helps to build up a 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.

The following regions of the globe are represented by the association through its founding members:

• Arab countries, through ABAN (Arab Business Angels Network)
• Asia and Central Asia, through the Indian Angel Network and the Center for China Business Angel Research
• Australia, trough AAAI (Australian Association of Angel Investors)
• Europe, through BBAA (British Business Angels Association), ESBAN (Spanish Business Angels Network), FranceAngels (The French Federation of Business Angels Networks), FNABA (National Federation of Business Angels Associations), EBAN (The European Association for Business Angels and Early Stage Investors), and IBAN (The Italian Business Angel Network)
• Latin America, through Southern Angels
• North America, through the ACA (Angel Capital Association)

WBAA has two honorary members:

• EBAN, The European Association for Business Angels and Early Stage Investors
• FNABA, National Federation of Business Angels Associations