Despite decades of globalization and the rise of digital dealmaking, European angel investors remain largely anchored to local markets. According to Jesper Jarlbæk— current President of EBAN, European Business Angel Network, former Chair of DanBAN. the Danish Business Angels Network and a seasoned investor—this isn’t due to lack of ambition, but rather the nature of how angel capital works.

“Angel investing is inherently hands-on,” Jarlbæk says. “It’s not just about putting money into a pitch deck—it’s about mentoring founders, opening doors, and being available. That kind of involvement works best when you’re close by.”

This has resulted in what Jarlbæk describes as an overwhelmingly local model—where nearly all European angels invest within their own countries or nearby regions.

In its efforts to promote angel investing globally, EBAN, the European Business Angels Network, has extended its outreach to markets such as the Caucasus, North Africa, Israel, and the Gulf, but Asia remains largely uncharted territory.

Why So Little Activity in Asia?

Cultural distance, perceived complexity, lack of visibility into local ecosystems, and absence of trusted on-the-ground partners are among the key barriers. But perhaps most critically: the perception that Asia is a region for institutional money or later-stage VC—not angel investors.

Yet this perception may be outdated.

According to DealStreetAsia, Southeast Asia saw over $1.2B in early-stage funding in 2023, with growing syndicates and government-backed angel co-investment schemes in countries like Singapore, the Philippines, and Indonesia. Platforms like AngelHub in Hong Kong and AngelCentral in Singapore are formalizing local dealflow pipelines. What’s lacking is European participation.

A Missed Strategic Opportunity

While Asian capital is increasingly scouting European startups—often collaborating with local angels as “eyes and ears”—the reverse is rare. But this imbalance may represent a missed opportunity.

“Imagine a European angel backing an early-stage healthtech or greentech startup in Vietnam or the Philippines,” Jarlbæk posits. “It may be riskier, yes, but the cost of entry is lower, and the potential upside in underserved markets can be exponential.”

Some ecosystems now offer soft landing zones for foreign angels, including co-investment incentives, local syndicate support, and curated roadshows. Associations like EBAN could play a catalytic role in structuring these relationships, using trusted networks to vet deals and bridge the information gap.

Time to Reframe the Narrative

The idea isn’t to shift 50% of European angel capital to Asia—but to explore selective strategic exposure. Consider investing not just in a startup, but in learning: about Asia’s consumer trends, digital adoption rates, or regulatory frameworks. Asia isn’t just a frontier—it’s an innovation lab at scale.

If Europe wants to remain globally relevant in the early-stage space, part of the answer may lie in adapting its angel model—not abandoning hands-on support, but exporting it smartly through partnerships.

“The infrastructure for outbound activity is beginning to form,” Jarlbæk acknowledges. “What’s needed now is intent.”