Adara Energy Fund: Announcing commitments from energy leaders Elewit & Grupo Energía Bogotá

Over the last 20 years, Adara Ventures has invested in ambitious businesses, partnering with founders with vision, courage, and the capacity to execute. We’ve backed over 46 deep tech companies across Europe and witnessed many industry leaders rise from our portfolio. Seedtag, AlienVault, Playgiga, Scalefast, Hdiv Security and ADD Semiconductor are just some of these success stories.

We are now ready to leverage our extensive experience to address one of today’s most pressing challenges. Adara Ventures Energy is our first Pan-European thematic fund to invest in cutting-edge technologies and solutions that drive the energy transition. 

With a target size of €120 million, our investment thesis centers on building strong connections between the most promising startups and established players in the energy sector. By facilitating these relationships, we can create a powerful ecosystem that drives innovation and accelerates the adoption of clean energy technologies.

Fostering innovation: Startups and energy corporations

We are proud to announce some of the first LPs in Adara Ventures Energy, including Elewit, the technology platform of Redeia (the global operator of essential electricity and telecommunications infrastructure in Spain), and Grupo Dunas, a subsidiary of the energy holding Grupo Energía Bogotá,  as well as the European Investment Fund.

👉 Read more about the EIF’s €35M investment here.

The Adara Energy Fund will facilitate investments in next-generation technologies, helping corporate energy leaders like Redeia and Grupo Energía Bogotá accelerate their digital transformation and sustainability initiatives – from improving access to innovative technologies to creating new opportunities for acquiring or licensing breakthrough technologies.

“Through our participation in this fund, we aim to support cutting-edge technological solutions and seamlessly integrate them into our operations, reinforcing our commitment to sustainability, driving the energy transition, and enhancing the quality of life in our region.”
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– Alvaro Villasante, Grupo Energía Bogotá's Vice President of Innovation and Business Management

Our hands-on approach and extensive technical expertise also enable us to offer founders more than just capital. We provide strategic guidance, valuable industry connections, and operational support to help founders scale effectively. Our Partner, Alberto Echeverri, who is co-leading our new fund, brings deep experience working with digital ventures in the energy sector and previously led the Innovation and Digital Portfolio at Siemens Energy. 

At Siemens Energy and earlier in his career at General Electric, Alberto held global roles with P&L responsibility, managing teams across EMEA and other regions. In addition to developing talent, he led business development and investment programs within the energy space.

“Adara has consistently backed the best technology entrepreneurs in Europe, and with the launch of the Energy fund, we can gain visibility and exposure to the brightest minds across all of Europe and the Americas, creating new leaders in energy-related tech sectors.”
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– Silvia Bruno, Redeia’s Chief Innovation and Technology Officer and Director of Elewit

Learn more about Adara Ventures Energy Fund

At Adara Ventures, we are dedicated to supporting visionary deep tech founders. With our new Energy Fund, we can now empower those creating groundbreaking solutions to tackle climate change and transform the global energy sector as well. 

A fundamental part of the Energy Fund’s mission is to foster a more collaborative ecosystem that connects startups, corporations, and key stakeholders in the energy sector. If you're interested in getting involved or learning more, we will be hosting our second Industrial Advisory Committee on October 16, 2024 in Barcelona, Spain. This event will gather leaders from the energy sector and founders focused on advanced energy transition technologies. Please get in touch for more information.