Kembara closes €750M first close to fuel growth of European deep tech startups

 Europe’s largest dedicated deep tech growth fund has taken a major step forward after closing the first tranche of its fundraising effort at €750 million.

The fund, known as Kembara Fund I and managed by Spain-based Mundi Ventures, is aiming for a €1 billion target. It will invest in European companies developing breakthrough technologies in areas such as clean energy, AI, quantum computing, advanced materials, robotics, and space tech.

A cornerstone of the fundraising so far is a €350 million commitment from the European Investment Fund, part of the EU’s attempt to strengthen local growth capital. Additional backing comes from tier-one institutional investors from across Europe.

Kembara was launched in 2023 by Yann de Vries and Javier Santiso, who now lead the fund’s team alongside experienced investors in climate and deep technology.

The leadership team also includes climate tech investor Robert Trezona, deep tech ...