Adara Ventures, a European venture capital firm specializing in early-stage European deep tech investments, has secured the first close of its fourth flagship fund (AV4), targeting €100 million in total capital commitments. This latest fund reinforces Adara’s focus on cybersecurity, applied AI, digital infrastructure, hardware components, digital health, and space technology.
The modern world faces increasing threats in cybersecurity, struggles with energy transition, and demands scalable digital infrastructure and healthcare innovation. Adara Ventures actively invests in early-stage European companies that are pioneering technologies to address these critical challenges.
With cyber threats becoming more sophisticated, Adara backs companies developing advanced security solutions to protect businesses and individuals. In energy transition, its Adara Ventures Energy (AVE) fund focuses on sustainable innovations that drive change in the sector. The firm also prioritizes investments in digital infrastructure, ensuring companies can efficiently scale their technological capabilities.
“We are immensely proud to announce the first close of AV4. Over the past nine months, we have secured more than €140 million across our fourth-generation funds,” said Nico Goulet, Founding Partner of Adara Ventures. “Alongside AV4, we are excited to launch Adara Ventures Energy (AVE), our first Pan-European fund focused on energy transition technologies.”
Supporting European Deep Tech Founders
Founded in 2005 by Alberto Gómez and Nicolás Goulet, Adara Ventures is dedicated to empowering visionary European founders targeting global B2B markets. Headquartered in Madrid, Spain, the firm specializes in sectors that require long-term commitment and expertise to scale successfully.
Unlike traditional VCs chasing unicorns, Adara focuses on “dragons”—startups with the potential to return an entire fund. This investment philosophy has consistently delivered success, with each previous fund generation producing at least one dragon.
“In a sector obsessed with unicorns, our focus has always been on maximizing dragons—companies that return the entire fund. We are proud to have produced at least one dragon in every previous fund generation, with AV2 ranking among the top 5% of European VC funds for its vintage,” Goulet added.
With over 130 limited partners, including institutional investors, pension funds, asset managers, high-net-worth individuals, and family offices, Adara Ventures continues to attract top-tier backers. The firm has also welcomed a new generation of portfolio founders investing as LPs, demonstrating strong confidence in Adara’s investment model.
Adara is actively investing from AV4 and AVE, with plans to complete its first three investments in each fund by mid-2025. Both funds remain open to new investors seeking high-impact deep tech opportunities.
Since its inception, Adara Ventures has managed over €350 million in assets, funding more than 50 pioneering companies across Europe and the U.S., with over 10 successful exits. Notable acquisitions include:
- AlienVault (acquired by AT&T)
- PlayGiga (acquired by Meta, marking Facebook’s first Spanish acquisition)
- Seedtag (acquired by Advent International)
Today, Adara’s portfolio features high-growth European deep tech companies, including Quibim (Spain), Cyber Guru (Italy), and SatVu (UK).
As Adara Ventures expands its portfolio, it remains committed to backing exceptional early-stage European deep tech startups that are reshaping industries and addressing global challenges.
