Spanish and Luxembourg-based VC Adara Ventures has announced the first close of its €100 million AV4 Fund, targeting high-impact sectors such as cybersecurity, applied AI, digital infrastructure, hardware components, digital health, and space.
- Founded in 2005 by Alberto Gomez, Jesus Sainz, and Nicolas Goulet, Adara Ventures is a venture capital firm that manages over €250 million in capital and invests in early-stage Deep Tech companies in Spain, Portugal, France, the United Kingdom, and Ireland.
- The firm has invested in 50 companies across Europe and the US, with over 10 notable exits, including AlienVault (acquired by AT&T), PlayGiga (acquired by Meta), and Seedtag (acquired by Advent International).
- The firm aims to use its fourth fund (AV4) to invest in early-stage Deep Tech startups across Europe, while Adara Ventures Energy (AVE) will focus on energy transition technologies. The first three investments from both funds are expected to close by mid-2025.
- The firm has seen support from over 130 limited partners, including institutional investors, pension funds, asset managers, high-net-worth individuals, and family offices, with new anchor investors joining in this first close.
"In a sector obsessed with unicorns, our philosophy has always been to maximise ‘dragons’—companies that return the entire fund. We are proud to have generated at least one dragon in each of our previous fund generations, with AV2 poised to rank among the top 5% of VC funds in Europe for its vintage," Adara Ventures's team, commented in a statement.
