Adara seeks €40m for second fund


eurosVenture capital firm Adara Ventures Partners is seeking €40m for its second fund, AltAssets has learned.

The firm filed an updated document with the US Securities and Exchange Commission, which shows that its second fund is targeting €40m.

Regulatory documents filed earlier this month showed that the firm was looking to raise just over $40m for the fund, which follows Adara’s first vehicle that raised €50m in 2006.

Adara Ventures II has yet to register its first commitment, the filing showed.

The firm is raising the fund without a placement agent and has set a minimum commitment requirement of around €125,000 for outside investors.

Adara, which is based in Spain and Luxembourg, invests in early-stage technology companies.

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