Abba not known for singing

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Possible Answers: EBAN.

Last seen on: LA Times Crossword 11 Feb 2018, Sunday

Random information on the term “EBAN”:

An angel investor (also known as a business angel, informal investor, angel funder, private investor, or seed investor) is an affluent individual who provides capital for a business start-up, usually in exchange for convertible debt or ownership equity. A small but increasing number of angel investors invest online through equity crowdfunding or organize themselves into angel groups or angel networks to share research and pool their investment capital, as well as to provide advice to their portfolio companies.

The application of the term “angel” to a kind of investor originally comes from Broadway theater, where it was used to describe wealthy individuals who provided money for theatrical productions that would otherwise have had to shut down. In 1978, William Wetzel, then a professor at the University of New Hampshire and founder of its Center for Venture Research, completed a pioneering study on how entrepreneurs raised seed capital in the USA, and he began using the term “angel” to describe the investors that supported them. A similar term, “patron,” is commonly used in arts.

EBAN on Wikipedia