Angel investors association to represent Turkey abroad

ISTANBUL / MILAN

The TBAA represents a sector that is expected to invest an estimated 400 million euros annually in a few years’ time and has a key role in the funding of SMEs.

The Business Angels Association of Turkey (TBAA) became the first national member of the Global Business Angels Network (GBAN), the association announced at the Global Entrepreneurship Congress in Milan.

The TBAA will represent Turkey at the global community of business angels and early stage markets, the association said by a written statement on March 23.

The GBAN Executive Committee selects one organization per country to serve as the interface between that nation’s angel community and GBAN efforts, added the statement.

“The TBAA will contribute to the fast development of GBAN in southeast Europe and beyond,” said TBAA President Baybars Altuntaş.

The GBAN, a cross-border collaboration and syndication among angel investors and federations, has come a long way since the 1999 initiation of the The European Trade Association for Early Stage Market Players (EBAN), said the statement.

The TBAA represents a sector that is expected to invest an estimated 400 million euros annually in a few years’ time and has a key role to play in Turkey’s future, notably in the funding of small and medium-sized enterprises (SMEs) and the creation of wealth and jobs, said the statement. The TBAA hosted the European Business Angels Investment Forum last year. The TBAA also holds the Vice Presidency of EBAN in Brussels.