Kembara Raises €750M to Back European Deep Tech Startups
▼ Summary
– The Kembara Fund I, managed by Mundi Ventures, has closed its first €750 million tranche toward a €1 billion target to invest in European deep tech.
– It will focus on Series B and C funding for startups in sectors like AI, quantum computing, clean energy, and space tech, with initial investments of €15-40 million.
– A cornerstone €350 million commitment comes from the European Investment Fund, backed by other major institutional investors across Europe.
– The fund aims to address a critical gap in later-stage growth capital that prevents many European deep tech innovators from scaling globally.
– The leadership team, including founders Yann de Vries and Javier Santiso, brings extensive experience in scaling technology ventures, which helped secure the large commitments.
A major new financial force has emerged to propel Europe’s most promising technology companies forward. Kembara Fund I, managed by Spain’s Mundi Ventures, has successfully secured an initial €750 million, marking a significant milestone toward its ultimate €1 billion target. This substantial capital pool is specifically designed to fuel European startups operating at the cutting edge of science and engineering. The fund will focus its investments on firms developing transformative solutions in critical sectors including artificial intelligence, quantum computing, clean energy, robotics, advanced materials, and space technology.
A powerful endorsement for the fund comes from the European Investment Fund (EIF), which has committed €350 million as a cornerstone investor. This move aligns with broader European Union initiatives to bolster the region’s growth capital landscape and retain its most innovative companies. The remaining capital has been secured from a consortium of leading institutional investors across Europe, demonstrating strong confidence in the fund’s mission and leadership.
Kembara was founded in 2023 by Yann de Vries and Javier Santiso, who helm the fund alongside a team of seasoned investors with deep expertise. The leadership group includes climate technology specialist Robert Trezona and deep tech expert Pierre Festal. Adding strategic counsel is Siraj Khaliq, a former partner at the venture firm Atomico. This collective track record in scaling complex technology ventures proved instrumental in attracting such substantial institutional backing.
The fund’s strategy addresses a well-documented pain point in the European innovation ecosystem: the “Series B and C valley of death.” While the continent generates a formidable pipeline of deep tech breakthroughs, many ventures falter when trying to secure the larger growth-stage capital required for manufacturing, international expansion, and global competition. Kembara is positioned to bridge this critical gap by providing initial investments ranging from €15 million to €40 million. Furthermore, the fund has the capacity to lead or participate in subsequent financing rounds, with the potential to deploy up to €100 million in a single portfolio company over time.
Fund managers point to this later-stage funding shortage as a primary barrier preventing European deep tech champions from achieving worldwide dominance. By deploying growth capital at scale and offering sustained support through later investment rounds, Kembara aims to transform promising European innovations into globally competitive enterprises. With €750 million already committed, the fund is now actively evaluating investment opportunities in startups poised for rapid scaling.
Should the fundraising effort achieve its full €1 billion target, Kembara Fund I will stand as one of the largest investment vehicles of its kind dedicated exclusively to European deep technology, signaling a new chapter for the region’s high-tech ambitions.
(Source: The Next Web)
