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Based out of Luxembourg, Adara Ventures, a European Venture Capital (VC) firm has announced the first closing of its third fund (Adara Ventures III) with commitments over €65 million.
The new fund 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.
With more than 70 institutional and private investors distributed across its three vintages, the majority of these have chosen to back multiple Adara funds.
Fund I – Through its first fund, Adara invested in cybersecurity (AlienVault), remote meetings (LoopUp), semiconductors (ADD) and other enterprise SW areas.
Fund II – Through Fund II, they focused deeper on the cybersecurity segment (4iQ, CounterCraft, Hdiv), as well as on data analytics and infrastructure (Stratio, Seedtag, Scalefast).
Fund III – With Fund III, the company is planning to focus on Deep Tech B2B companies, an investment strategy that has become the hallmark of the firm. In addition to it, the company is planning to reinforce the globalisation of its portfolio companies as well.
Rocío Pillado, said:
The combination of these factors makes Western Europe exceptionally well placed to produce the next generation of global deep tech leaders and here at Adara we want to harness this opportunity.
The company has just been awarded the ASCRI prize for the best venture capital deal in 2018 in recognition for the sale of AlienVault to AT&T.
In addition to the new fund, the appointment of Rocío Pillado to the partnership marks another milestone in the firm’s trajectory. Rocío Pillado joined Adara six years ago and, since then, she has risen through the ranks of the firm, working side by side with co-Managing Partners, Alberto Gómez and Nico Goulet.
“The promotion of Rocío Pillado to partner of Adara Ventures recognizes her talent, skill, dedication, enthusiasm and passion for technology and
entrepreneurship. Combined with our ongoing efforts to recruit new junior talent to the team, this step represents a leap forward in the firm’s trajectory”, explains Alberto Gómez.
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