Spain-based deeptech and climate megafund Kembara has just completed a €750 million first close toward its €1 billion target.

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Mundi Ventures has closed €750 million for Kembara Fund I, targeting €1 billion to address Europe's Series B funding gap in deep tech and climate startups. The fund will write €15-40 million initial checks for Series B/C rounds, with potential follow-ons up to €100 million per company. Led by experienced VCs including former Atomico partners, Kembara aims to provide both equity and non-dilutive financing to help European growth-stage companies scale manufacturing and expand globally, with backing from the European Investment Fund and sovereign wealth funds.

Mundi Ventures closes on €750M for Kembara, its largest deep tech and climate fund

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