Business angel networks do not offer value for money for either investors or entrepreneurs, according to an analysis of the start-up investment market.

Business angel networks are dominated by "voyeurs" who have either no desire or ability to invest in small companies, a report commissioned by the Department for Business Innovation and Skills suggests.

The partner leverages knowledge of local market to establish or grow the crowdfunding industry and build awareness of the Symbid system among relevant stakeholders: investors, entrepreneurs, business angel networks, universities and other entrepreneurial associations.

The Group has funds of £335 million under management and comprises the fund managers Finance Wales and FW Capital, which invest in SMEs as well as xénos, a business angel network.

EBAN was established under the auspices of the European Commission in 1999 by a group of early business angel networks in Europe and EURADA (the European Association of Development Agencies).

Based in Brussels, the WBAA was formed by leaders of twelve national business angel federations to create an 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.

Members include individual business angel networks from European countries, regional and national federations of business angels networks, business angel networks with international focuses, early stage venture capital funds and other entities involved in promoting the early stage investment market in Europe.