COFIDES will invest in the third fund of Adara Ventures ("Adara Ventures III") to participate in companies that have developed products with a high technological component and are in a phase of national and international growth. COFIDES will participate with 6 million euro from the FIEX fund.

The Adara Ventures III Fund - whose first closure was announced by Adara Ventures last July, and which already has a committed capital of 75 million euro- focuses on innovative digital technology companies that develop deep-tech solutions that support the transformation of companies and entire sectors (cybersecurity, applied artificial intelligence and cloud services and infrastructure) and with high growth. The objective is to make investments through minority interests in the capital of young companies of great projection, in rapid growth and with the potential to become large global companies.

FIRST VENTURE CAPITAL PROJECT

This is the first project carried out by COFIDES with the 20 million euro line launched last July to participate in venture capital operations through intermediated investment by risk capital managers.

With this line, COFIDES expands the scope of its investments to accompany technologically-based startup companies in their first phase of internationalisation

The General Director of COFIDES, Rodrigo Madrazo, has affirmed that “the investment in this fund combines two objectives that we have set in the current Strategic Plan of the company: participate in venture capital and support the technology sector, betting on a new typology of companies with digital component and global vocation since its creation”. Likewise, “digitalization and industry 4.0 have generated a new business ecosystem with different financing needs and growth rates and from COFIDES we hope to contribute with this new line to respond to the needs of these companies,” he added.

For his part, Alberto Gómez, co-founder of Adara has commented that “for Adara, it is incredibly satisfying to have in our third fund the participation of new institutional investors such as COFIDES. Its support endorses our ability to act in our natural technology investment segments, as well as expand the global presence of the companies in the portfolio, which is another objective for this fund.” Nico Goulet, also co-founder of Adara, added that “thanks to collaborations of this type, we contribute to the sustained development of the Spanish entrepreneurial ecosystem and boost the growth of technology startups so that they become international market referents”.

Founded in 2005, Adara Ventures is a Venture Capital firm that invests in European deep-tech companies, mostly in the early stages of development. With more than EUR 170 million under management and a long history of investments in Spain, Adara's mission is to apply its investment and international development experience to boost the expansion of young companies and turn them into leading companies globally, generating interesting returns for the firm's investors. Half of Adara Ventures' portfolio companies have been financed, grown, migrated, or acquired in Silicon Valley. Adara's investment strategy focuses mainly on segments related to security and data analysis and management, and with an impact on large and medium-sized companies in key economic sectors such as banking, insurance, retail, media/entertainment, energy, health, services, construction, etc.

COFIDES is a public-private company which has been offering financial support to Spanish companies investing abroad since 1988. It is accredited with the EU to manage Community budgets, allowing it to structure transactions with a high impact on development. It is also accredited with the UN’s Green Climate Fund and can structure operations on climate change mitigation and adaptation with the GCF. It is the exclusive manager of FIEX and FONPYME funds on behalf of the Secretariat of State for Trade attached to the Ministry of Industry, Trade and Tourism and supports AECID in managing FONPRODE funds. Shareholders include Banco Santander, Banco Bilbao Vizcaya Argentaria (BBVA), Banco Sabadell and CAF-Development Bank of Latin America.

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