Adara Ventures funding news – Madrid-based Adara Ventures Announces First Close of Adara Ventures IV Fund at €100 Million

Since 2005, they have proudly invested in over 50 pioneering companies across Europe and the U.S., resulting in more than 10 notable exits. Highlights include AlienVault (acquired by AT&T), PlayGiga (the first Spanish startup acquired by Meta), and Seedtag (acquired by Advent International). Their current portfolio features high-growth companies such as Quibim (Spain), Cyber Guru (Italy), and SatVu (UK).

In a sector obsessed with unicorns, their philosophy has always been to maximise ‘dragons’—companies that return the entire fund. They are proud to have generated at least one dragon in each of their previous fund generations, with AV2 poised to rank among the top 5% of VC funds in Europe for its vintage.

As they take this next step, we are honored to have the support of over 130 limited partners, including institutional investors, pension funds, asset managers, high-net-worth individuals, and family offices. They are particularly excited to welcome new anchor investors in this first close, alongside a growing number of Adara portfolio founders choosing to invest as LPs — a true testament to the strength of their value proposition.

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They are now actively investing from AV4 and AVE and over the past nine months, they have successfully secured over €140 million in commitments for their fourth-generation funds. Alongside AV4, this includes Adara Ventures Energy (AVE), their first Pan-European fund dedicated to advancing energy transition technologies.

Despite facing one of the most challenging fundraising climates in the past two decades, their strong DPI track record, disciplined investment strategy, and focused fund model have positioned AV4 as a highly compelling opportunity for their limited partners. They want to extend their sincere thanks to all of their partners for their continued support.

The first three investments for both the AV4 and AVE funds are on track for completion within the first half of 2025, and they look forward to sharing more details very soon. Additionally, both funds are still open to new investors.

About Adara Ventures

Founded in 2005 by Alberto Gómez and Nicolas Goulet, the firm manages more than €350 million in assets. Adara’s portfolio focuses on early-stage companies with a European footprint, specialising in cybersecurity, data applications and infrastructure, hardware components, digital health, space and energy transition technologies