Kfund PodKast Recap: 20 years of Adara Ventures
Our Founding Partners, Nico Goulet and Alberto Gomez, recently sat down with Pablo Ventura and Jaime Novoa at Kfund for an in-depth conversation on their 20-year journey building Adara Ventures.聽
In this episode, they share valuable insights into our investment strategies and showcase how we鈥檝e developed a sustainable investment model rooted in the core values of trust, transparency, and professionalism.聽
Nico and Alberto also reflect on the challenges they faced while raising their first fund, and Adara's role in success stories like AlienVault and Seedtag. Finally, they shared details on our latest thematic fund focused on energy transition technologies.
Below is a summary of the conversation and you can listen to the full episode here (in Spanish):
We sincerely thank Pablo Ventura and Jaime Novoa and the Kfund team for taking the time to share our story. Your support over the years has been invaluable, and we look forward to continuing our collaboration to strengthen the startup ecosystem in Spain.
- Introduction (2:13 - 7:43)
Learn about the story behind Nico and Alberto's 20-year partnership in venture capital, including how they鈥檝e built a thriving company together, the core values that define Adara Ventures, and the strategies they use to foster transparency in their business relationship.
- Founding and Growing Adara Ventures (7:43 - 14:56)
Discover how Adara started back in 2002 and grew into one of Spain's most successful venture capital firms. Nico and Alberto share the ups and downs of those early days, especially the challenges of raising their very first fund.
- Adara's Investment Strategy and Philosophy (14:56 - 22:47)
At Adara, we focus on trust, transparency, and professionalism in our investment strategy. Nico and Alberto talk about why building strong relationships with founders is so important, along with taking a thoughtful, methodical approach to decision-making. It鈥檚 all about ensuring the firm鈥檚 long-term success, well beyond the contributions of individual partners.
- Sector Focus: Energy Transition (22:47 - 31:06)
Hear about our new thematic fund focused on investing in energy transition technologies. Backed by prominent investors including the EIF, Redeia, and Grupo Energ铆a Bogot谩, we see this as an exciting opportunity to drive growth while collaborating more closely with our industrial partners.
- Decision-Making and Portfolio Management (31:06 - 45:39)
Get an inside look at how we make decisions at Adara, especially when it comes to follow-on investments. Nico and Alberto also talk about why operational transparency and partner consensus are so important before making any significant financial commitments.
- Challenges and Learnings (45:39 - 52:04)
Reflecting on past mistakes is important. Learn how our team has adopted a more strategic approach over time, ensuring that capital is allocated efficiently based on performance metrics rather than emotional sentiment.
- Key Success Stories (52:04 - 1:08:37)
Learn about some of Adara's biggest success stories, such as AlienVault, a cybersecurity firm that AT&T acquired for $600 million, and Seedtag, a leader in AI contextual advertising. Seedtag鈥檚 journey is one of the most remarkable, as they used capital incredibly efficiently and achieved impressive growth with minimal funding.
- Final Thoughts and Motivations (1:08:37 - End)
Learn how our Founding Partners are dedicated to establishing a firm that can endure and thrive well beyond their direct involvement. At Adara, we take pride in partnering with passionate entrepreneurs, and supporting their success while fostering a sustainable, methodical, and transparent investment ecosystem.
