Kembara is a European deep tech growth fund investing at Series B and C, set up to close what its partners describe as Europe's scale-up capital gap rather than its innovation gap. Its own site states it writes initial cheques of €15-40M into roughly 20 companies, with up to €100M deployable per company including follow-ons, across science-focused AI, robotics and automation, clean energy, future of compute (quantum, photonic, neuromorphic), space technology and designed materials. The fund is anchored by a €350M commitment from the European Investment Fund under the European Tech Champions Initiative, alongside CriteriaCaixa and CDTI Innovación via the Innvierte programme. It is Mundi Ventures' fifth fund, run by a dedicated team and registered with Spain's CNMV as Kembara Fund I, FCR.
€750M (first close of Kembara Fund I announced 4 February 2026; €1B target, CNMV-registered capacity up to €1.25B) AUM66/100 Power Score™2023 FoundedMadrid, Spain
Kembara founded by Yann de Vries and Javier Santiso as a dedicated European deep tech growth vehicle within Mundi Ventures, per Sifted and Vestbee.
2024
European Investment Fund commits €350M to Kembara Fund I under the European Tech Champions Initiative, announced 8 July 2024.
2025
Kembara Fund I, FCR registered with Spain's CNMV on 28 November 2025 (register no. 560), managed by Alma Mundi Ventures, SGEIC, S.A.; capacity raised to €1.25B with CriteriaCaixa (€100M) and CDTI among backers.
2026
€750M first close announced 4 February 2026 against a €1B target; described as Mundi Ventures' largest fund.
2026
CDTI Innovación commits up to €300M through the Innvierte programme, announced 16 February 2026.
2026
Kembara co-leads Quantum Motion's $160M Series C with DCVC in May 2026, reported as the fund's first major investment.