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Mundi Ventures closes on €750M for Kembara, its largest deep tech and climatefund
Mundi Ventures has raised €750M for its Kembara Fund I, aimed at supporting deep tech and climate startups, especially during Series B and C stages. The fund seeks to tackle the funding gap for early-stage European companies. Influenced by past failures, it emphasizes non-dilutive financing to help startups scale while retaining equity. The final close could reach €1.25 billion, underlining growing European investment interest in this sector.
Key points
- Mundi Ventures closed its fifth fund, Kembara, at €750M, and could extend it to €1.25B.
- Kembara aims to invest in deep tech startups, focusing on Series B and C funding rounds with €15M to €40M initial investments.
- Co-founder Yann de Vries emphasizes a shift towards non-dilutive financing based on past experiences of funding challenges in deep tech.
- The fund has backing from the European Investment Fund, highlighting institutional interest in European growth capital.
- Kembara will explore sectors like dual-use and defense tech to support European sovereignty, amidst geopolitical shifts.
Why it matters
- The substantial EU funding for climate startups directly reflects increasedEuropean awareness of sustainability and innovation challenges.
- Mundi's approach responds to a trend in European venture capital toward prioritizing growth financing for scalable technology firms.
- The fund's strategy aligns with larger conversations about maintaining European innovation amidst globalization and geopolitical challenges, such as those in the semiconductor industry.
- This funding landscape emerges as European tech companies grapple with post-COVID economic shifts, influencing tech investment strategies through 2025.
Mundi Ventures’ Kembara Fund represents a significant step in bridging the funding gap for deep tech startups in Europe, promoting innovation while emphasizing sustainable and strategic growth amid global competition.