Adelie Capital
24-26 Rue Ballu, Paris, Ile-de-France, 75009, France
Overview
Adelie is a Paris & London based venture capital fund launched in 2019 to finance fast growing technology companies across Europe with a focus on Series A & B. The fund benefits from a large base of experienced entrepreneur investors and a partnership with Clipperton, a pan-European tech investment banking platform
- Total investments
- 9
- Lead investments
- 0
- Investments · 12mo
- 0
- Active investors
- 1
Sector focus
- Finance
- Financial Services
- Venture Capital
Investment portfolio
- VSORA
Participated · Series C · Apr 2025
VSORA is a company that entered a phase of scaling and completed an intermediate financing round in 2025 that exceeded €40M. The 2025 round combined reinvestment from existing shareholders and new investor capital. Otium Capital reinvested heavily and remained VSORA's largest financial shareholder after the round. Ardian Semiconductor entered as a new investor through its semiconductor platform, marking Ardian's fourth investment. XAnge participated as a significant investor, taking the third-largest position in the round. Beyond these shareholder movements and the fundraise, articles report no disclosed operational metrics or specific use-of-proceeds details.
- Tomorro
Participated · Equity · Mar 2025
Tomorro is a French start-up offering an AI-powered contract management platform used by clients including Veja, Nestlé and Ingenico. Its flagship AI assistant, Oro, launched in 2024 to help businesses analyze and process contract data instantly, supporting contract generation, editing, summarization, translation and data extraction. The company raised €25M in a funding round led by XAnge and Acton Capital, with participation from Adelie, Founders Future and previous investors HenQ, Resonance and Motier Venture. Tomorro plans to use the investment to accelerate expansion across Europe, beginning with opening a German office. In 2025 it intends to recruit a full sales, marketing and customer team while consolidating staff in France. The funding will also support further development of its AI and broader expansion efforts.
- Hyperline
Participated · Seed · Jan 2025
Hyperline offers an automated billing and revenue-management platform that handles pricing, service bundling, workflows, automation, and third-party integrations for small and medium-sized businesses. The product supports modern monetization approaches including AI features, usage-based models, and outcome-based pricing, and is known for quick onboarding. Clients named in the article include Infinit, Veesion, Gladia, Qobra, Ocus, and ScorePlay. With the new funding, Hyperline plans to scale distribution to millions more businesses and expand further into Paris and London. The company says customer feedback has been very strong and that demand for flexible, automated revenue management is growing rapidly. Financially, the raise builds on an earlier seed tranche and increases total seed funding to over $14M. Hyperline is a Parisian startup offering billing software that aims to cut integration time by 10x and eliminate the need for engineering teams to build custom billing tools. Its API-first platform enables dev-free iterations on pricing and packaging across usage-based, recurring and add-on models. The solution connects with any payment provider and supports multi-currency billing and varied payment intervals. The company has just exited beta and opened the platform to the public. Hyperline was founded by former Spendesk VP of Engineering Lucas Bédout. It raised a €4 million seed round and plans to use the funding to continue product development, improve UX and recruit engineering talent.
- YesWeHack
Participated · Series C · Jun 2024
YesWeHack operates a bug-bounty and vulnerability management platform that mobilises a community of tens of thousands of ethical hackers to test customers' websites, apps, devices and digital infrastructure. The platform offers integrated, API-based solutions including Bug Bounty, Vulnerability Disclosure Policy, Pentest Management and Attack Surface Management. It serves more than 500 customers across 40 countries, covering CAC 40 firms, telecoms, unicorns and public institutions, with clients such as Louis Vuitton, Tencent and Orange. Since its last funding round in 2021 the company reports a sixfold increase in annual recurring revenue and a tripling of registered ethical hackers. YesWeHack plans to use the new funding to invest in artificial intelligence, launch new solutions and accelerate international expansion. Founded by ethical hackers in 2015 and headquartered in Paris, the company emphasises compliance and a customer-focused technological roadmap. YesWeHack, founded in 2013 and based in Rouen, operates a bug bounty platform that connects more than 7,000 cybersecurity experts across 120 countries with organisations to report vulnerabilities in websites, mobile apps, infrastructure and connected devices. The company offers a pay-per-vulnerability model to help firms remediate security gaps using external ethical hackers. YesWeHack positions its service within the DevSecOps trend, promoting an agile, proactive approach to embedding security into development projects. With CNP Assurance using the YesWeHack platform since July 2018, the company is emphasizing real-world enterprise adoption. The new funding is intended to expand its presence in France and accelerate international development, particularly across Europe and Asia. YesWeHack has also strengthened its strategic capabilities by adding industry figures to its board, including Laurent Seror, Eric Leandri, Charles Beigbeder, and Jonathan Denais.
- Supervizor
Participated · Equity · May 2024
Supervizor provides a plug-and-play financial Quality Assurance platform that combines ERP transactions and other data sources into a single universal accounting model, backed by AI-based algorithms and a library of millions of accounting patterns. The platform continuously monitors transactions, detects multiple types of anomalies, and helps prevent fraud, enabling finance, accounting, and compliance teams to build error-proof financial statements. Supervizor integrates with all major ERPs, is available on the SAP Store, and is distributed by Sage, and analyzes transactions against more than 350 controls. The company says it is trusted by over 70 global enterprises, including Michelin, IKEA, Lacoste, and others. Supervizor plans to use new funding to drive continued innovation of its audit analytics platform and expand go-to-market operations worldwide, with particular focus on growing its North American customer base. The company has been operating since 2016 and was recently recognized by the AICPA for inclusion in its 2024 Startup Accelerator cohort. Supervizor provides analysis services and automated accounting and operational data software that detects accounting errors and fraud to reduce the risk of tax adjustment. Its system integrates with existing ERP, accounting and regulatory software tools. The platform is used by more than 5,000 companies. The company is finalizing partnerships with major players including ERP publishers, investment funds, law firms focused on cost optimization, and tax lawyers. Supervizor is co-founded by Cyrille de Gastines and Alban Clot. It intends to use new funding to grow in France and accelerate expansion across Europe.
Team
Jean-Manuel Costa
Founder & Managing partner
LinkedIn