Adara Ventures
Adara Ventures is a Madrid-based deep-tech venture capital firm founded in 2005 that backs European and US enterprise-technology startups from seed to growth across cybersecurity, applied AI and digital infrastructure, energy transition, digital health, semiconductors and space. The firm states it manages around EUR 350 million across six fund vehicles and has produced more than ten exits, including fund-returners AlienVault (sold to AT&T) and PlayGiga (sold to Meta), while its funds are domiciled in Luxembourg.
Key facts
Recent exits
Coverage notes
5 funds tracked, 39 portfolio companies (30 active · 9 realized). Verified weekly from public filings and deal announcements.
Sector breakdown
39 companiesFunds & portfolio
Every fund Adara Ventures has raised, with its portfolio companies. Hand-checked from public filings.
Adara Ventures IVVC2025 · 1yr8 active
Unrealized
8 held| Company | Sector | Geo | Entry |
|---|---|---|---|
| AI/ML |  Spain | 2026 | |
| DevTools |  United Kingdom | 2026 | |
| AI/ML |  United States | 2026 | |
| AI/ML | Spain | 2021 | |
| Cloud Infrastructure | Spain | 2023 | |
| Cybersecurity | Spain | 2025 | |
| AI/ML | Spain | 2025 | |
| Cybersecurity | Spain | 2025 |
Spain· Entry 2026United Kingdom· Entry 2026United States· Entry 2026Spain· Entry 2021Spain· Entry 2023Spain· Entry 2025Spain· Entry 2025Spain· Entry 2025Adara Ventures EnergyEnergy2025 · 1yr2 active
NorwayAdara Ventures IIIVCHarvesting2019 · 7yr14 active · 1 realized
Unrealized
14 held| Company | Sector | Geo | Entry |
|---|---|---|---|
| Cybersecurity |  France | 2021 | |
| Cybersecurity | Spain | 2025 | |
| AdTech | Spain | 2025 | |
| Hospitality | Spain | 2020 | |
| LegalTech | Spain | 2021 | |
| AdTech | Spain | 2020 | |
| AdTech | Spain | 2024 | |
| HealthTech | Spain | 2020 | |
| AI/ML | Spain | 2023 | |
| Energy | Israel | 2025 | |
| HealthTech | Spain | 2020 | |
| Aerospace & Defence | United Kingdom | 2024 | |
| HealthTech | Spain | 2024 | |
| Construction | United Kingdom | 2020 |
France· Entry 2021Spain· Entry 2025Spain· Entry 2025Spain· Entry 2020Spain· Entry 2021Spain· Entry 2020Spain· Entry 2024Spain· Entry 2020Spain· Entry 2023Spain· Entry 2020United Kingdom· Entry 2024Spain· Entry 2024United Kingdom· Entry 2020Realized
1 exit| Company | Sector | Geo | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|---|---|
| Cybersecurity |  Italy | 2021 | 2026 | Trade Sale | – |
Adara Ventures IIVCHarvesting2013 · 13yr€40M6 active · 5 realized
Unrealized
6 held| Company | Sector | Geo | Entry |
|---|---|---|---|
| SaaS | Spain | 2021 | |
| Cybersecurity | United States | 2016 | |
| LegalTech | Spain | 2021 | |
| Cybersecurity | Spain | 2016 | |
| SaaS | Spain | 2020 | |
| Data & Analytics | Spain | 2018 |
Spain· Entry 2021United States· Entry 2016Spain· Entry 2021Spain· Entry 2016Spain· Entry 2020Spain· Entry 2018Realized
5 exits| Company | Sector | Geo | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|---|---|
| Cybersecurity | Spain | 2018 | 2022 | Trade Sale | – | ||
| SaaS | Spain | 2017 | 2022 | Trade Sale | – | ||
| Gaming | Spain | 2013 | 2019 | Trade Sale | – | ||
| E-commerce | United States | 2018 | 2022 | Trade Sale | – | ||
| AdTech | Spain | 2016 | 2022 | Secondary | – |
Adara Ventures IVCRealized2005 · 21yr0 active · 3 realized
Realized
3 exits| Company | Sector | Geo | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|---|---|
| Cybersecurity | Spain | 2008 | 2018 | Trade Sale | – | ||
| Deep Tech | Spain | 2006 | 2007 | Trade Sale | – | ||
| SaaS | Spain | 2008 | 2022 | Trade Sale | – |
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Spain·€142MGet the full picture on Adara Ventures.
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