Lightspeed Leads $37M Series A in Andera to Capitalize on Europe's Undersupplied Living Sectors

Andera, a real estate advisory firm headquartered in Madrid, has closed a $37 million Series A round led by Lightspeed. The company positions itself as a hands-on partner for institutional and private capital seeking to deploy funds into Europe's living and hospitality sectors, rather than a passive consultant.

Andera's pitch is that the era of riding macroeconomic waves to real estate returns is over. In a post-cheap-money environment, value must be actively manufactured through operational discipline, asset management, and intelligent design. The firm connects capital to opportunities and then stays embedded through execution, a model its founders argue is essential when margins are being squeezed by inflation and higher financing costs.

The structural case leans on deep undersupply: household formation across Southern and Western Europe far outpaces new housing completions, while hospitality assets remain fragmented and ripe for consolidation. A demographic shift toward lifestyle-led senior communities and a flight to energy-efficient, ESG-compliant stock add further tailwinds. Andera focuses on Spain and Southern Europe, where local complexity and opaque markets reward an on-the-ground presence.

The company was founded by Camilla Anderson, who previously oversaw a €2.9 billion living portfolio as Head of Build to Rent at Harrison Street Europe, and Oscar Herrera, a former advisor to firms including Blackstone and Partners Group. Their combined expertise spans institutional investment mandates and operational execution.

Lightspeed's investment will allow Andera to scale its team and advisory capabilities, deepening its ability to source, structure, and manage deals from acquisition to exit. The capital infusion signals confidence in a model built on manufacturing returns through active oversight rather than relying solely on market timing.