Recently, the entrepreneurial potential of refugees has received growing attention from scholars and policymakers. However, the literature on refugee entrepreneurship suffers from the fragmentation of previous research findings, which has been mainly attributed to the fact that refugees have heterogeneous backgrounds. Tackling this challenge, this study conceptualized the framework for the multiple embeddedness of refugee entrepreneurs by applying and extending the concept of mixed embeddedness. Based on 50 semi-structured interviews with refugee entrepreneurs who relocated to Germany, France, and Ireland, we identified six patterns in which refugees’ multiple embeddedness and their actions as entrepreneurial agencies interacted to develop entrepreneurial opportunities: (i) value creation with homeland resources, (ii) acting as transnational middleman minorities, (iii) integration facilitation, (iv) qualification transfers, (v) homeland-problem solving, and (vi) creative innovation. This study contributes to the literature on refugee entrepreneurship by considering multiple contexts in which refugees can be embedded in and by elaborating on the interactions between opportunity structure emerging within the multiple embeddedness, actions, and capabilities of refugees as entrepreneurial agencies.