Europe's startup ecosystem is vibrant and rapidly expanding, fueled significantly by the contributions of angel investors. These individuals and groups provide crucial early-stage capital, mentorship, and network access to promising ventures. Understanding this landscape is vital for entrepreneurs seeking funding and for anyone interested in the dynamics of European innovation. This guide offers a comprehensive look at notable angel investors and networks active as of May 2025.
Angel investors in Europe are high-net-worth individuals or organized groups who inject capital into startups and early-stage companies, typically in exchange for equity or convertible debt. Beyond financial backing, they often bring invaluable industry expertise, mentorship, and access to their professional networks, significantly impacting a startup's growth trajectory. The European angel investment scene is characterized by a growing number of active investors, increasing deal sizes, and a strengthening infrastructure of networks and support organizations.
Sectors attracting significant angel interest include technology (particularly FinTech, AI, SaaS, and HealthTech), sustainability, and digital services. There's also a noticeable trend towards cross-border investments and syndication, where multiple angels pool resources to fund larger rounds.
The state of European angel investing within the startup ecosystem.
Angel investor networks are crucial for fostering a healthy startup ecosystem. They provide platforms for investors to discover opportunities, share due diligence, co-invest, and learn best practices. They also offer startups a more streamlined way to access potential funders.
Conceptual image representing European Business Angel Networks.
EBAN stands as the pan-European representative for the early-stage investor community. Established in 1999 with the collaboration of the European Commission, it gathers over 100 member organizations in more than 50 countries, representing an estimated €11.4 billion invested annually. EBAN's mission is to drive successful early-stage investing by providing network connections, best practices, training, and representation towards governmental stakeholders. They host significant events, like the EBAN Annual Congress, which facilitate networking and deal-making.
BAE is another key confederation representing national and regional business angel federations and trade associations from across Europe. It boasts a membership representing over 40,000 individual business angels. BAE actively cooperates with the European Commission and other partners on programs supporting their objectives, focusing on creating a conducive environment for angel investment and cross-border collaboration. The BAE Club is a group of leading European angel networks that share knowledge and investment opportunities.
ESAC is a pan-European organization that includes business angels, high-net-worth individuals, family offices, and corporate ventures. It operates on a members-only basis, screening startups and providing investors with access to curated tech deals. ESAC emphasizes co-investment and supports the entire investment process, connecting investors with partner funds and leading corporates across Europe.
Beyond these overarching bodies, numerous national and regional networks play a vital role. Examples include:
Europe is home to a diverse group of highly active and influential angel investors. These individuals often bring not only capital but also deep industry knowledge, mentorship, and strategic connections. Below are some of the prominent names in the European angel investment scene as of 2025:
A French billionaire entrepreneur, founder of Iliad (the parent company of Free). Niel is also a co-founder of Kima Ventures, one of the world's most active angel investment funds. Forbes estimates his net worth at approximately $6.1 billion. He primarily invests in Software, SaaS, and Artificial Intelligence, and has backed numerous successful startups.
A London-based angel investor, entrepreneur, and mentor. Adelsbach is a leading FinTech investor and was named the UK's Angel Investor of the Year in 2018/19. His net worth was estimated at €91.09 million in 2024. He focuses on FinTech, Financial Services, and Software, typically investing at Seed, Pre-Seed, and Angel stages. Notable investments include Railsbank, Monese, WealthOS, and Renew Risk.
A prolific French angel investor with over 100 investments in his portfolio. Elzière is known for backing startups across various sectors, including AI and spacetech. He is part of the eFounders startup studio and is considered one of Europe's most active angels.
Co-founder of Wise (formerly TransferWise), Hinrikus is an active angel investor and venture capitalist. He has made numerous tech investments, including in companies like Tweetdeck and Mendeley. He supports startups in the Baltic region and beyond, often focusing on fintech and digital services.
The director of Station F, the world's largest startup campus, located in Paris. Varza is a prominent investor with a focus on early-stage startups, particularly those with an AI component. She is a significant figure in the French and European tech ecosystems.
A partner at Cherry Ventures and an advisor at Atomico. Bendz has a strong focus on backing female entrepreneurs and innovative tech startups. She is recognized for her contributions to fostering diversity in the European tech scene.
Co-founder of Just-Eat.com and Miinto Group, Buch is considered one of Europe's top internet entrepreneurs. He is a serial entrepreneur and an active angel investor, also known for his appearances on the Danish version of "Dragons' Den."
Known for his entrepreneurial ventures Wakoopa and Karma, Gaal is a seasoned entrepreneur with an estimated net worth of €70 million in 2024. He invests in tech startups, particularly in software and consumer products, targeting early-stage companies with high growth potential.
A Norwegian angel investor active in the Nordic region. Knudsen has a track record of supporting startups in areas like software and fintech, with an emphasis on scalable businesses with global potential.
A German professional footballer who is also an active angel investor. Götze backs a range of tech startups, including those in sports tech and consumer goods, leveraging his public profile and network.
An angel investor with investments in education, financial services, and software. Pausder has a particular interest in backing female founders and was featured on Sifted's list of most active German angels in 2021.
To better understand the interconnected elements of angel investing in Europe, the following mindmap illustrates key components, from investor types and networks to target sectors and engagement strategies.
This mindmap highlights the multifaceted nature of European angel investing, showcasing the various entities and factors that startups and investors navigate.
European angel investors often have diverse preferences regarding sectors, stages, and the level of involvement they prefer. The radar chart below provides an opinionated comparison of hypothetical investment preferences for different archetypal European angel investors, illustrating how their focus areas might vary. The scale (from 1 to 10) represents the relative emphasis an investor archetype might place on a particular area, with 1 being low emphasis and 10 being high emphasis.
This chart illustrates that while some investors might specialize heavily in areas like AI & DeepTech, others might prioritize sustainability or maintain a more diversified portfolio across various B2B and consumer-facing technologies. Understanding these nuances can help entrepreneurs target the right investors.
Securing angel investment requires a strategic approach. Here are common avenues for startups to connect with potential angel investors in Europe:
European business angels gathering at the EBAN Congress in Tallinn, Estonia (May 2024).
The following table summarizes key information for a selection of notable angel investors active in the European ecosystem. This provides a quick reference to their primary focus areas and affiliations.
Investor Name | Country/Region | Primary Investment Focus | Notable Trait / Affiliation |
---|---|---|---|
Xavier Niel | France | Software, SaaS, AI | Founder of Iliad, Co-founder of Kima Ventures |
Chris Adelsbach | UK | FinTech, Financial Services, Software | UK Angel Investor of the Year 2018/19, Outrun Ventures |
Thibaud Elzière | France | AI, Spacetech, Various Tech | Prolific angel (~100+ investments), eFounders |
Taavet Hinrikus | Estonia/UK | FinTech, Digital Services | Co-founder of Wise (formerly TransferWise) |
Roxanne Varza | France | Early-stage Tech, AI | Director of Station F |
Sophia Bendz | Sweden/Germany | Tech, Female Founders | Partner at Cherry Ventures, Advisor at Atomico |
Jesper Buch | Denmark | Internet, E-commerce | Co-founder of Just-Eat.com |
Verena Pausder | Germany | EdTech, FinTech, Software, Female Founders | Active German angel investor |
The European Angel Investment Summit, often organized or supported by networks like EBAN, is a cornerstone event for the angel community in Europe. These summits bring together angel investors, entrepreneurs, policymakers, and ecosystem builders to discuss trends, share best practices, and foster investment opportunities. The video below provides a glimpse into discussions and perspectives shared at such a gathering, offering valuable insights into the mindset and priorities of European angel investors.
Such events are crucial for understanding the evolving landscape, including shifts in investment theses, preferred sectors, and the expectations angels have from startups. They also highlight the collaborative nature of the European angel scene, where co-investment and knowledge sharing are prevalent.
To deepen your understanding of angel investing in Europe, consider exploring these related topics:
The information presented in this response was synthesized from various sources, including: