Announcing the first close of Adara Ventures Fund 4

We are thrilled to announce the successful first close of Adara Ventures’ fourth flagship fund, AV4, with a target of €100 million in capital commitments. This milestone reinforces our commitment to delivering strong returns in high-impact sectors such as cybersecurity, applied AI, digital infrastructure, hardware components, digital health, and space.

Since 2005, we 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). Our current portfolio features high-growth companies such as Quibim (Spain), Cyber Guru (Italy), and SatVu (UK).

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

As we 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. We 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 our value proposition.

We are now actively investing from AV4 and AVE and over the past nine months, we have successfully secured over €140 million in commitments for our fourth-generation funds. Alongside AV4, this includes Adara Ventures Energy (AVE), our first Pan-European fund dedicated to advancing energy transition technologies. Despite facing one of the most challenging fundraising climates in the past two decades, our strong DPI track record, disciplined investment strategy, and focused fund model have positioned AV4 as a highly compelling opportunity for our limited partners. We want to extend our sincere thanks to all of our 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 we look forward to sharing more details very soon. Additionally, both funds are still open to new investors.

So stay tuned, we are just getting started! 🚀

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Business Wire (English): https://www.businesswire.com/news/home/20250313203598/en/Adara-Ventures-Announces-First-Close-of-%E2%82%AC100M-AV4-Fund-Targeting-Cybersecurity-AI-Digital-Infrastructure

Business Wire (Spanish): https://www.businesswire.com/news/home/20250313846743/es

Announcing the first close of Adara Ventures Fund 4

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