Kembara achieves a €750M initial closing to support the expansion of European deep tech startups.
Europe's largest specialized deep tech growth fund has achieved a significant milestone by closing the first phase of its fundraising initiative at €750 million. The fund, named Kembara Fund I and managed by Mundi Ventures based in Spain, is targeting a total of €1 billion. It intends to invest in European companies that are developing groundbreaking technologies in sectors such as clean energy, AI, quantum computing, advanced materials, robotics, and space technology.
A key component of the fundraising to date is a €350 million commitment from the European Investment Fund, which is part of the EU’s strategy to bolster local growth capital. Additional support has been secured from leading institutional investors throughout Europe.
Kembara was established in 2023 by Yann de Vries and Javier Santiso, who currently lead the fund’s team alongside seasoned investors in climate and deep technology. The leadership team also features climate tech investor Robert Trezona, deep tech specialist Pierre Festal, and former Atomico partner Siraj Khaliq serving as a strategic advisor. Their collective experience in scaling technology enterprises has been instrumental in attracting substantial institutional investments.
The fund’s strategy focuses on Series B and C funding rounds, which are often a challenging stage for deep tech startups in Europe. Initial investments are projected to be between €15 million and €40 million per company, with the potential to provide follow-on funding that could reach up to €100 million per portfolio company.
Europe generates a significant portion of global deep tech innovations; however, many companies find it difficult to obtain later-stage capital and expand internationally. Fund managers have identified this gap as a major hurdle preventing local companies from achieving global leadership. Kembara aims to bridge this gap by deploying growth capital on a large scale and providing support through subsequent funding rounds.
With €750 million now raised, the fund is actively looking for opportunities to invest in European startups ready to enhance manufacturing, expand internationally, and compete on a global level. If it achieves its full target of €1 billion, it would become one of the largest dedicated deep tech funds in the region.
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Kembara achieves a €750M initial closing to support the expansion of European deep tech startups.
Kembara has completed a €750 million first close for its €1 billion deep tech growth fund aimed at supporting later-stage European startups in the deep tech sector.