World Business Angels Association – Definition

Cite this article as:"World Business Angels Association – Definition," in The Business Professor, updated May 14, 2019, last accessed October 28, 2020,


World Business Angels Association Definition

The World Business Angels Association (WBAA) is an international organization that is responsible for enhancing ethical practices and exchange of information among angel investors who are the active participants in the angel capital financing. Usually, investors in the angel capital financing are individuals with high net worth that provide financial assistance or backing for small startups or entrepreneurs. Their focus is often on businesses with tendencies of long-term growth. WBAA is a not-for-profit organization known for promoting best practises among angel investors.

A Little More on the World Business Angels Association

WBAA was created by prominent angel investors who are leaders in their federations. The aim was to build a network that accommodates angel investors and leaders are enhance development in their respective countries by financing high-growth start-ups. This organization fosters angel groups and associations worldwide. As a not-for-profit organization, countries who have representation in the organization include Australia, India, Italy, Portugal, UAE, UK, US, among others.

WBAA is based in Brussels, and has had a lot of organizational meetings attended by angel federations in the world. One of the meetings held in Estoril, Portugal, on October 10, 2007, another on April 19, 2009 in Dubai and an inaugural conference in Beijing China on December 5–6, 2009. WBAA seeks to increase global awareness on the practice and importance of angel investing in promoting development in many nations.

References for World Business Angels Association

Academic Research on World Business Angel Association

Measuring business angel investment activity in the United Kingdom: a review of potential data sources, Mason, C. M., & Harrison, R. T. (2008). Venture Capital, 10(4), 309-330.

Business angels: potential financial engines for start-ups, Giurca Vasilescu, L. (2009). Economic research-Ekonomska istraživanja, 22(3), 86-98.

Business angel investment activity in the financial crisis: UK evidence and policy implications, Mason, C. M., & Harrison, R. T. (2015).Environment and Planning C: Government and Policy, 33(1), 43-60.

Business angel networks and the development of the informal venture capital market in the UK: is there still a role for the public sector, Mason, C. M., & Harrison, R. T. (1997). Small Business Economics, 9(2), 111-123.

Financing high-growth firms: The role of angel investors, Wilson, K. (2011).

The Evolution of Business Incubators: Comparing demand and supply of business incubation services across different incubator generations, Bruneel, J., Ratinho, T., Clarysse, B., & Groen, A. (2012). Technovation, 32(2), 110-121.


Encouraging angel capital: what the US states are doing, Lipper, G., & Sommer, B. (2002). Venture Capital: An International Journal of Entrepreneurial Finance, 4(4), 357-362.

Business angels in China: Characteristics, policies and international comparison, Wang, J., Tan, Y., & Liu, M. (2016). Handbook of research on business angels, 201-232.

What do we mean when we talk about business angels? Some reflections on definitions and sampling, Avdeitchikova, S., Landström, H., & Månsson 1, N. (2008). Venture Capital, 10(4), 371-394.

Private equity investing in the Philippines: Business angels vs. venture capitalists, Scheela, W., & Isidro, E. S. (2008). The Journal of Private Equity, 90-99.

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