Adara Ventures, a venture capital firm based in Luxembourg, completed the first closing of its third fund, with commitments in excess of €65m.
Adara Ventures III is backed by repeat cornerstone investors which include the European Investment Fund (EIF) and FondICO Global, as well as new benchmark investors, such as the Institut Català de Finances (ICF), Prosegur and Draper Esprit.
Simultaneously, Adara has strengthened its team through the promotion of Rocío Pillado to partner. With over six years’ experience at Adara, Pillado will play a key role in the management of the new fund, alongside the two Managing Partners, Nico Goulet and Alberto Gómez.
Founded in 2005, Adara Ventures invests in early stage deep tech companies in the European Atlantic rim, with a particular focus on Cybersecurity, Horizontal and Vertical Data/AI solutions, Cloud computing, and Enterprise/Industrial software.
Adara III will continue to focus on Deep Tech B2B companies and reinforce the globalization of its portfolio companies. The geographic focus will be on Spain, UK, Portugal, France, and Ireland.
The firm, which manages over €160m in capital, invested in cybersecurity (AlienVault), remote meetings (LoopUp), semiconductors (ADD) and other enterprise SW areas through its first fund while Fund II focused deeper on the cybersecurity segment (4iQ, CounterCraft, Hdiv), as well as on data analytics and infrastructure (Stratio, Seedtag, Scalefast).