Adara Ventures, a VC firm based in Luxembourg (but actually Spanish), today disclosed the first closing of its third fund with commitments in excess of €65 million to back European early-stage deep tech startups.

Its new fund is backed by repeat investors, which include the European Investment Fund (EIF) and FondICO Global, as well as new investors such as the Institut Català de Finances (ICF), Prosegur and Draper Esprit.

After six years at Adara, Rocío Pillado has also been promoted to partner, and will play a key role in the management of the new vehicle.

Previous investments from the firm, which was founded in 2005, include AlienVault (acquired by AT&T), LoopUp, Stratio, Kompyte and Scalefast.

Also read:

Voima Ventures launches a €50 million deep tech fund for the Nordics and Baltics

Karma Ventures closes €70 million fund to invest in early-stage deep tech startups

German VC firm raises €355 million fund to continue investing in early-stage startups in the US and Europe

German VC firm Digital+ Partners raises €350 million fund to back B2B tech scale-ups in the DACH region

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