Kembara has announced a €750 million first close toward its €1 billion target, making it Europe’s largest dedicated deeptech growth fund. After two years operating in stealth, the fund is now actively investing in science and engineering companies at the critical Series B and C stages to scale.
- Founded in 2023 by Yann de Vries, former partner at VC firm Atomico, and Javier Santiso, CEO of VC firm Mundi Ventures, Kembara's team includes Pierre Festal, partner at VC Promus Ventures, and Siraj Khaliq, founder of deeptech startup The Climate Corporation, who joins as senior strategic advisor.
- The fund will invest in deeptech scaleups across Europe. The fund aims to provide €15-40 million per company, with total investments of up to €100 million. Its preferred sectors include AI, quantum computing, robotics, clean energy, space tech, advanced materials, and dual-use technologies.
- Based in Spain, Kembara has offices in Madrid, London, Paris, and Zurich.
- Beyond capital, Kembara will help companies scale manufacturing, expand internationally, and optimise capital structures through a mix of equity and non-dilutive financing. It will also bring in institutional, sovereign, and corporate co-investors to accelerate growth.
"Europe is at the beginning of a second Renaissance. Just as the original had the Medici family to fund innovation, Europe's deeptech champions today need significant local growth-stage capital at scale. With €750 million committed, we're backing Europe's most ambitious founders leading this change," claims Javier Santiso, Founder and General Partner at Kembara.
- The European Investment Fund (EIF) contributed €350 million as an anchor investor under the European Tech Champions Initiative, helping Kembara reach its first close, alongside leading European institutional investors.
