The Rise of EBAN Communities
A Sector-Specific, Cross-Border Evolution of Angel Investing in Europe
As angel investing becomes increasingly professionalised across Europe, a compelling trend is emerging; generalist approaches are giving way to sector-specific strategies. “Invest in what you know”, a common advise by some of the most experienced and successful business angels. Angel investors are narrowing their focus, aligning with sectors where they contribute not only capital, but also deep expertise, networks, and credibility. This shift reduces risk and enhances value creation—benefiting both investors and start-ups.
Smart Capital in a Fragmented Landscape
In today’s fragmented start-up ecosystem, competitive advantage lies in smart capital—being able to identify and support the right team, in the right space, at the right time, with the right kind of backing. However, this evolution also brings challenges.
National Deal Flow Isn’t Enough
Sector-specific investors often face a paradox: their national market may not generate sufficient deal flow to match their investment thesis. For instance, an angel focused on sport or space may find that quality opportunities in their country are either too few, too early, or too late.
The solution? Go cross-border. But that’s easier said than done.
The Complexity of Cross-Border Angel Investing
Cross-border investing today comes with a host of complications: legal, tax, regulatory, cultural, and operational. Unlike venture capital firms, which have teams and advisors to support international deployment, market analysis, and cross-border networks, individual angels often lack the resources to navigate these complexities alone. This creates a gap in the ecosystem—one that EBAN communities are uniquely positioned to fill.
EBAN Communities: Reducing Friction, Increasing Impact
EBAN communities create structured, trust-based environments that connect angels across Europe and beyond. They help reduce friction in cross-border investing by offering:
- Shared deal flow: Access to qualified start-ups aligned with sector-specific theses, regardless of geography
- Sector expertise & networking: Communities bring deep know-how and international contacts
- Local knowledge bridges: Members from each country help navigate legal, regulatory, and cultural nuances
- Cross-border co-investment: Frameworks and best practices for efficient syndication
- Thematic clustering: Communities organised by sector or impact theme, rather than geography
Recent examples include EBAN Sports and EBAN Space & Defence, which demonstrate the growing momentum behind this model.
The 28th Regime: Enabling the Next Phase
Europe is moving closer to a unified framework for cross-border investment, often referred to as the “28th regime”—a harmonised legal and tax infrastructure that will simplify transactions across member states.
For sector-specific angels, this regime is not merely a policy milestone—it’s a practical enabler. It will allow them to look beyond borders for the best start-ups and act on those opportunities with greater ease and confidence.
Together, the 28th regime and EBAN’s sector-driven, cross-border communities form the foundation for the next evolution of early-stage investing in Europe: smart, connected, and international from day one. This will empower start-ups to scale faster and more efficiently, backed by capital that brings strategic value and market access.
Not Just More Deals—Better Ones
Ultimately, the goal isn’t simply to do more deals—it’s to do better deals. Sector-specific communities, powered by trusted cross-border networks, enable investors to find start-ups that fit their thesis and add strategic value.
When angels act as more than just capital—serving as mentors, connectors, and champions—start-ups gain a competitive edge. In a global, highly competitive market, that edge can make all the difference.
As Co-Chair of EBAN Sports, I encourage BANs and all BAN members interested in sport to join the community, with the hope that it will bring value to the EBAN ecosystem and foster innovation and early-stage investment in Europe across sports tech start-ups.
About the author
Juan Fuentes (Spain) is the Director of the Global Sports Testing Lab stablished in Valencia by GSIC (Global Sports Innovation Center) Powered by Microsoft, a global sports innovation hub funded by the tech giant. Juan is also a cross-border angel investor & mentor in start-ups, with several years of expertise in international business development in Europe, Middle East & Asia. He is FIBAN member, advisory board member in the Factory Sports Tech VC (Norway) and board member in Danish Start-up Group.
With over 9 years of experience working as LALIGA head of expansion in MENA and Northern Europe, his expertise in the sports industry combines with an agnostic approach as he also worked in MENA for the Spanish Embassy helping Spanish companies to expand globally, and in APAC in economic research and investment analysis for Oxford Business Group. With angel investments in 6 countries, he was also a mentor in TechStars US accelerator. He is an instructor and researcher in his fields of expertise in different universities: Harvard Business School, Stockholm School of Economics or European Sports Business School among others.
