Adelie

What Adelie does

Adelie Advisors SAS is a private, Paris-based multi-stage technology investment firm founded in 2018 by Jean-Manuel Costa. Operating from offices in Paris (24-26 Rue Ballu, 75009) and London (Ingestre Court, W1F 0JL), the firm deploys capital across the full European tech lifecycle — seed, Series A, Series B, growth, and buyout/LBO — into fast-growing technology companies, with a thematic focus on French and European founders building global leaders. Its capital base is drawn from more than 300 experienced tech entrepreneurs, partners at private equity firms, C-level executives at CAC 40 companies, and large family offices, and it works in formal partnership with Clipperton, a European technology investment bank that has advised 350+ high-growth businesses on financing and M&A since 2003.

The firm is registered as a Conseiller en Investissement Financier under ORIAS n°17005507 and is approved by the Autorité des marchés financiers (AMF), allowing it to provide regulated advisory and investment management services in France. It is run by a six-person team led by Managing Partner Jean-Manuel Costa (ex-Goldman Sachs, JP Morgan, Wharton MBA), Principal Quentin Gazay (ex-Accenture Strategy, SpaceFill), Associate Hugo Tranzer (ex-Quadrille Capital, Crédit Agricole CIB), Analyst Mathilde Pujol (ex-INCO Ventures, Amundi), CFO Jean-François Sarrazin (ex-Revaia, Unigestion), and Fund Controller Alexis Sauge (ex-FundPartner AM, Edmond de Rothschild REIM). The firm monetises through traditional VC/PE economics — management fees on committed capital and carried interest on exits — and does not publicly disclose AUM, fee structure, or revenue.

The disclosed portfolio includes at least 13 European technology companies across adtech (Equativ, Kamino Retail), digital marketing (Brevo), marketing measurement (Happydemics), bug bounty (YesWeHack), financial controls (Supervizor), contract management (Tomorro), connected food (Foodles), consumer health (Withings, Tilak Healthcare), AI infrastructure (Genesis AI, VSORA), B2B SaaS (Hyperline), lighting (CLAREO), and privacy (Didomi). Notable outcomes include Brevo's 2025 LBO confirming unicorn status (€583M raise) and Didomi's sale to Marlin Equity Partners. Distribution is relationship-driven through direct founder outreach, Clipperton-sourced opportunities, and the 300+ investor network that also provides visibility and corporate access to portfolio companies.

Name

Adelie

Legal name

Adelie Advisors SAS

Website

https://adelie.vc

Company type

Private

Founded year

2018

Operating status

Operating

Headcount range

1–10 employees

Short description

Adelie Advisors SAS is a Paris- and London-based multi-stage technology investment firm founded in 2018, deploying capital from a 300+ investor base across seed to buyout stages into European tech founders, in partnership with investment bank Clipperton.

Ownership category

akta.pro rank

Headquarters

HQ city

Paris

HQ country

France

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Others

Revenue model

1. Investment Returns: Adelie generates returns through equity investments in portfolio companies at various stages (Seed, Series A, Series B, Growth, Buy-out, LBO). Returns are realized through exits, acquisitions, or IPOs.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

Adelie is a multi-stage technology investment firm that deploys capital and provides strategic advice to fast-growing European technology companies from seed through growth stages. The firm pairs its investment capital with advisory on financing, exit strategy, international development, go-to-market optimization, acquisition strategy, and reporting. It operates from Paris and London and works in partnership with Clipperton, a technology investment bank that has advised 350+ high-growth businesses since 2003.

Product overview

Adelie is a multi-stage technology investment firm that provides capital deployment and strategic partnership services to ambitious tech entrepreneurs across Europe. The firm operates across seed, growth, and buyout investment stages, offering portfolio companies ongoing strategic advice, visibility through corporate network access, and entrepreneurial expertise from its investor base of experienced tech founders.

Differentiator

Problem solved

Functional benefit

Products and services

• Adelie Investment Services Multi-stage technology investment services providing capital and strategic support to European tech companies from seed through growth stages, with a focus on French and European founders building global leaders.

Quantifiable outcome

• Adelie has been a key strategic partner for Landytech, providing strong and valuable insights into business strategy to help accelerate development
• +1 more outcomes

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• ClippertoncoreStrategic or Co-development PartnerClipperton is a leading technology investment bank that has advised 350+ high-growth businesses on financing and M&A transactions since 2003. The partnership enables Adelie to leverage Clipperton's transaction expertise and extensive network in the European tech ecosystem. Adelie works in partnership with Clipperton, combining investment capital with advisory capabilities.

Scale indicators3 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Northzone: Nordic-anchored European VC investing from seed to growth in consumer, enterprise, and fintech. Comparable to Adelie in multi-stage tech mandate and European focus, though Northzone typically writes larger cheques.
• Balderton Capital: London-based early- and growth-stage VC focused on European technology companies. Comparable to Adelie in stage focus, European tech mandate, and proximity to the same founder networks in Paris/London.
• Earlybird: Berlin-based European venture capital firm investing across seed, early, and growth stages in European tech. Comparable to Adelie in stage breadth, European geographic mandate, and emphasis on technology-enabled business models.
• Partech: Paris-based multi-stage technology VC investing across seed to growth, with a strong portfolio in European SaaS, fintech, and consumer tech. Most directly comparable to Adelie given shared geography, stage focus, and emphasis on European tech founders building global leaders.
• Daphni: Paris-based multi-stage VC backing European technology and digital companies, with a community-driven LP model that echoes Adelie's operator-investor angle. Comparable in geographic focus, stage range, and ecosystem role within French tech.
• Speedinvest: Vienna-based early- and growth-stage VC investing across European tech sectors (fintech, SaaS, deep tech). Comparable to Adelie on stage focus (Series A/B emphasis), sector breadth, and pan-European tech mandate.
• Elaia Partners: Paris-based VC investing in European deep tech, digital, and SaaS from seed through Series B. Highly comparable to Adelie on geography, ticket size, and the B-to-C and B-to-B tech focus; Elaia even appears as co-lead alongside Adelie in portfolio data.

Broad incumbents

• Idinvest Partners (Eurazeo): Major European mid-market private equity and growth firm (now part of Eurazeo), historically a key player in French VC/PE. Comparable as a French-anchored multi-stage investor with a technology vertical, though operating at materially larger scale than Adelie.
• Index Ventures: Major European-headquartered (Zurich/London) VC investing across seed to growth in tech and life sciences. Comparable in European tech focus, but operates at meaningfully larger fund size and broader sector mandate than Adelie.
• Accel: Global venture capital firm with deep European presence (London). Comparable as a multi-stage technology investor active in Europe, though operates at substantially larger fund size and global scale than Adelie.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/adelieadvisors

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments18 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Adelie