The National Union of business angels is a non-profit partnership which incorporates legal entities and individuals, private and institutional investors who invest in innovative high-technology companies and entities which render services in the areas of investments and innovations. The decision on the National Union foundation was made at the 7-th Venture Fair on October10, 2006 on the initiative and with the support of the Russian Private Equity and Venture Capital Association (RVCA) and the Chamber of Industry and Commerce of Russia.