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Venture Capital
adelie.vc

Investments

10

About Adelie

Adelie is a Paris & London based Venture Capital fund launched in 2018 to finance fast growing technology companies across Europe with a focus on Series A & B. The fund is supported by experienced and hands-on investors, mainly serial entrepreneurs.

Headquarters Location

8 place de l'Opera

Villennes-sur-Seine, 75009,

France

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Latest Adelie News

[Press release] CLAREO Lighting completes a €35M funding round with NextStage AM, MI3, BNP Paribas Développement and Adelie - Nextstage AM

Feb 12, 2024

[Press release] CLAREO Lighting completes a €35M funding round with NextStage AM, MI3, BNP Paribas Développement and Adelie News 2th February 2024 Paris, January 31, 2024 – CLAREO Lighting, a new generation French designer and manufacturer of LED lighting products and solutions for professionals, announces a funding round of more than 35 million euros from NextStage AM, MI3, BNP Paribas Development and Adelie. NextStage AM and the other financial partners become minority shareholders, notably through the Pépites & Territoires by AXA & NextStage AM fund. With this operation, CLAREO intends to accelerate its development to become a reference in the LED lighting market in France and Europe, while maintaining its independence. Since its creation in 2012 by Olivier Maschino and Damien Sipos, CLAREO has established itself in France as a key player in the design of professional LED lighting products and solutions. CLAREO is aimed directly at large electrical installers, as well as architects, design offices and end customers, mainly in the tertiary sector (offices, retail, hotels, etc.) and industry. CLAREO has been able to disrupt a competitive market dominated by large international groups and has established itself thanks to its very high operational efficiency and quality of service. The group made the strategic choice from its creation to directly serve electricians and end customers, ensuring them excellent product quality (99,73% reliability) and a tailor-made offer. The group employs around 90 employees throughout France. CLAREO has one of the largest sales teams on the market, today representing around fifty people spread across different regions of France, working closely with customers. CLAREO's strength also lies in its design office, based in Paris and made up of 15 experienced engineers. In strong organic growth since its creation, the group has crossed the 40 million euros turnover mark in 2023. At the heart of energy transition issues with an LED offer with a positive environmental impact contributing to the reduction of energy consumption, CLAREO has worked since its creation to integrate ESG issues into its business model. EcoVadis silver medalist since 2022, the group has an ambitious ESG approach to continue to progress and to position itself as a leader in its market (eco-design, responsible purchasing, social practices, etc.). The professional LED lighting market is particularly buoyant in France, estimated at more than 1 billion euros in 2022, with +5% growth per year expected by 2028, driven in particular by the renovation of buildings which is accelerated thanks to an increasingly incentive regulatory framework in favor of energy efficiency and by a still very significant equipment potential in the tertiary sector and industry. Building on the funding round achieved with NextStage AM, through the NextStage EverGreen, Pépites & Territoires by AXA & NextStage AM funds and the Capital Entrepreneur program, MI3, BNP Paribas Développement and Adelie, CLAREO intends to continue the development of its offer, strengthen the integration of innovation and smart lighting, and accelerate its international deployment, particularly in cross-border countries, both through organic growth and by carrying out strategic external growth operations. “In 12 years, CLAREO has achieved the strongest organic growth in its market. Today, with more than 40 million euros in turnover, CLAREO is a key player due to its size, the quality of its products, its lead in services, as well as its marketing and digital approach. When a group reaches this size, in order to continue strong development, it is useful to structure itself accordingly, and I am very happy with the association with 4 renowned financial partners who will each play a role in the pursuit of this great adventure,” declares Olivier Maschino, co-founder and President of CLAREO. “I am very happy with the completion of this operation: it is a new important step in the history of CLAREO which will, among other things, allow us to accelerate innovation in the development of new products and services in order to bring us even closer to the needs and expectations of our ever-growing customers, but also to go further in our ESG and CSR commitments. These new partners will provide solid support for imagining and designing the most beautiful lighting solutions of tomorrow, both for France and for Europe,” declares Damien Sipos, co-founder and Vice-President of CLAREO. “CLAREO is a unique player who has been able to win over its customers directly thanks to strong technical skills and a DNA focused on organizational and service innovation. We are very happy to support entrepreneurs in this new phase of development. We are convinced that CLAREO is perfectly positioned to provide a relevant response to the fast-growing professional LED and smart lighting market. At the heart of the challenges of energy transition and environmental innovation, this operation naturally fits into our priority areas of investment,” declares Jean-David Haas, co-founder and Managing Director of NextStage AM. “Through Pépites & Territoires, AXA France is proud to support the development of an independent French player who actively participates in the energy transition. This investment is further proof of our commitment to environmental innovation,” adds Corinne Calendini, Managing Director of Axa Savings, Retirement and Individual Protection. Actors of the operation:

Adelie Investments

10 Investments

Adelie has made 10 investments. Their latest investment was in Clareo Lighting as part of their Private Equity on January 31, 2024.

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Adelie Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

1/31/2024

Private Equity

Clareo Lighting

$37.75M

Yes

2

10/12/2023

Series B

Tilak Healthcare

$10.61M

Yes

4

2/13/2023

Series B

Landytech

$12M

No

8

1/3/2023

Series C

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$99M

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10

7/21/2022

Series A

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$99M

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10

Date

1/31/2024

10/12/2023

2/13/2023

1/3/2023

7/21/2022

Round

Private Equity

Series B

Series B

Series C

Series A

Company

Clareo Lighting

Tilak Healthcare

Landytech

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Amount

$37.75M

$10.61M

$12M

$99M

$99M

New?

Yes

Yes

No

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Co-Investors

Sources

2

4

8

10

10

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