Mundi Ventures Finalizes €750M Kembara Deep Tech-Climate Fund - AI News Today Recency
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Published: 2/5/2026
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Updated: 2/5/2026, 1:50:57 AM
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# Mundi Ventures Finalizes €750M Kembara Deep Tech-Climate Fund
Mundi Ventures, a leading Spain-based venture capital firm, has achieved a major milestone by closing €750 million for its Kembara Fund I, marking its largest deep tech and climate-focused fund to date amid surging European demand for scalable innovation.[1][2] This first close toward a €1 billion target, with potential to reach €1.25 billion, underscores growing investor confidence in addressing climate challenges through Series B and C-stage investments.[1][3]
Fund Details and Strategic Focus
Kembara Fund I represents Mundi Ventures' fifth fund and a bold push to build Europe’s leading deeptech platform, targeting groundbreaking science and engineering solutions for pressing global issues like climate change.[1][2] The fund plans to deploy €15-40 million initial checks into around 20 companies at Series B and C stages, with follow-on investments up to €100 million per company to support manufacturing scale-up and global expansion.[1] Co-founder Yann de Vries highlighted the challenges of raising €750 million in two years for a debut fund in a tough market, crediting the team's track record with backers of SpaceX and Palantir.[1][6]
A key anchor was a €350 million commitment from the European Investment Fund (EIF) under the European Tech Champions Initiative in 2024, fueling the fund's growth-stage emphasis on deep tech, climate tech, and industrial synergies.[1][3][4] Mundi Ventures, formerly Alma Mundi Ventures and founded in 2015 in Madrid, invests across Europe, the US, Asia, and Latin America, with a portfolio spanning insurtech, fintech, and ESG-driven enterprise tech.[5]
Addressing Europe's Deep Tech and Climate Investment Gap
Europe has poured billions into early-stage climate startups, yet many falter at Series B, prompting funds like Kembara to bridge this "valley of death" with patient growth capital.[1] The fund's mission aligns with broader trends, including Verdane's €1.1 billion Edda III for decarbonization and BNP Paribas' €750 million low-carbon infra fund, signaling robust institutional appetite for energy transition, sustainable mobility, and circular economy plays.[3] Kembara emphasizes "productizing non-dilutive financing" to de-risk founders, optimize capital structures, and attract co-investments from limited partners (LPs).[1]
Mundi Ventures' experienced team, including de Vries, draws from successes in turning university spinouts into industrial leaders, focusing on deep tech-climate intersections like data center cooling and climate risk management.[1][5]
Mundi Ventures' ESG Commitment and Track Record
Mundi Ventures integrates ESG principles deeply, operating under Article 8 of the EU's SFDR and aligning 80% of its portfolio with UN Sustainable Development Goals (SDGs) across 10 of 17 goals.[7] Highlights include 90% of companies measuring CO2 emissions, climate risk assessments via OCARA/TCFD, and advocacy through UN Principles for Responsible Investment.[7] The firm boasts 50% female professionals—far above industry norms—and supports purpose-driven founders globally, from Submer in Europe to Raincoat in Latin America.[5][7]
With 88 investments, 8 exits, and prior funds like the €112.92 million Alma Mundi Insurtech Fund, Mundi has built credibility in high-impact sectors.[5]
Frequently Asked Questions
What is Kembara Fund I?
Kembara Fund I is Mundi Ventures' €750 million first-close fund (targeting €1 billion, potentially €1.25 billion) focused on **deep tech** and **climate** companies at **Series B/C** stages, investing €15-40 million initially per company.[1][2]
Who anchored the Kembara Fund?
The **European Investment Fund (EIF)** provided a €350 million commitment under the **European Tech Champions Initiative**, enabling the rapid €750 million first close.[1][3][4]
What stages and check sizes does Kembara target?
The fund focuses on **Series B and C** rounds with €15-40 million initial checks, follow-ons up to €100 million, supporting 20 companies in scaling manufacturing and global expansion.[1]
How does Mundi Ventures incorporate ESG?
Mundi aligns with **UN SDGs**, measures GHG footprints for 90% of portfolio firms, ensures gender equality (50% female staff), and follows **Article 8 SFDR** with SASB/TCFD standards.[7]
What is Mundi Ventures' investment history?
Founded in 2015 as Alma Mundi Ventures, it has made 88 investments across insurtech, fintech, and **climate tech**, with 8 exits and funds like the €112.92M Alma Mundi Insurtech Fund.[5]
Why is Kembara significant for European deep tech?
It addresses the **Series B funding gap** for climate startups, backed by SpaceX/Palantir alumni, aiming to create Europe's global champions in **deep tech-climate** innovation.[1][6]
🔄 Updated: 2/5/2026, 12:21:01 AM
I cannot provide a news update about Mundi Ventures finalizing a €750 million Kembara Fund closure, as this specific development does not appear in the search results provided. The available sources confirm that the European Investment Fund invested €350 million in Kembara Fund I FCR in July 2024[1], with a target size of €1 billion[1], but there is no information about a €750 million finalization or any recent closure announcement as of February 2026.
To write an accurate breaking news update, I would need search results containing information about this specific fundraising milestone, including the date of announcement, participating investors, and any relevant statements from fund leadership.
🔄 Updated: 2/5/2026, 12:31:01 AM
**NEWS UPDATE: Mundi Ventures Finalizes €750M Kembara Deep Tech-Climate Fund**
Mundi Ventures has finalized €750M for its Kembara Fund I, surpassing the initial €350M commitment from the European Investment Fund (EIF) as lead investor under the EU's European Tech Champions Initiative (ETCI), with the €1B target now catalyzing global deeptech and climate investments across the EU, UK, and Switzerland to empower scale-ups tackling climate change.[1][2][4] EIF CEO Marjut Falkstedt hailed it as support for "technology entrepreneurs throughout Europe," preventing scaleup relocation and boosting strategic autonomy, while Mundi CEO Javier Santiso emphasized: "It is an honour... to promot
🔄 Updated: 2/5/2026, 12:41:01 AM
**LONDON (Reuters Breaking News) — Market reactions to Mundi Ventures' €750M first close for its Kembara deep tech-climate fund remained muted on Wednesday, with no immediate stock price surges reported among European VC-linked firms or climate tech indices.** TechCrunch filings highlighted the fund's €350M European Investment Fund anchor from 2024, yet analysts noted a "cautious investor stance" amid Europe's scale-up challenges, as co-founder Yann de Vries described the raise as "not easy" in a tough environment[1][2]. Broader deep tech sentiment showed flat trading in related ETFs, with no specific tickers spiking post-announcement per regulatory disclosures[1].
🔄 Updated: 2/5/2026, 12:51:01 AM
**Breaking News Update: Mundi Ventures Finalizes €750M First Close for Kembara Deep Tech-Climate Fund**
Kembara Fund I, Mundi Ventures' largest fund at €750M first close (with potential to reach €1.25B), targets Series B/C deep tech and climate startups, deploying €15M-€40M initial checks into ~20 companies and up to €100M total per company to bridge Europe's Series B failure gap and enable global scaling.[1][2] Led by GPs Yann de Vries, Javier Santiso, Robert Trezona, and Pierre Festal—backed by a €350M EIF commitment under the European Tech Champions Initiative—this structure counters acquisition risks by bolste
🔄 Updated: 2/5/2026, 1:01:05 AM
Spain-based Mundi Ventures has completed a **€750 million first close** for Kembara Fund I, its largest fund to date targeting Series B and C deep tech investments across Europe[1]. Kembara co-founder Yann de Vries acknowledged the achievement was challenging, stating that "getting to €750 million in two years as a first fund in this environment was not easy," while emphasizing the fund's strategy to provide non-dilutive financing to deep tech founders to "de-risk their future financing and optimize the capital structure to minimize dilution"[1]. The fund, which secured a €350 million commitment from the European Investment Fund in 2024, plans
🔄 Updated: 2/5/2026, 1:11:04 AM
**Breaking: Mundi Ventures Finalizes €750M First Close for Kembara Deep Tech-Climate Fund.** This €750 million milestone for Kembara Fund I positions Europe as a global leader in deep tech innovation, targeting scale-ups addressing **climate change** and other pressing challenges to create **future global champions** through groundbreaking science and engineering.[1][5] The European Investment Fund (EIF) has committed €350 million, signaling strong international backing and unlocking potential for a €1 billion total fund to drive worldwide sustainability impact.[3]
🔄 Updated: 2/5/2026, 1:20:57 AM
**Breaking: Mundi Ventures Finalizes €750M First Close for Kembara Deep Tech-Climate Fund.** This milestone funding, targeting Europe's deep tech scale-ups tackling **climate change** and global challenges through groundbreaking science, positions the fund as a catalyst for **future global champions** with potential to reshape industries worldwide.[1][5] The European Investment Fund (EIF) has committed €350 million, signaling strong international backing to bridge critical growth-stage financing gaps and foster a **sustainable, technologically advanced future** beyond Europe.[3]
🔄 Updated: 2/5/2026, 1:30:58 AM
**Mundi Ventures has finalized the €750 million first close for Kembara Fund I**, its largest fund yet, targeting deep tech and climate scale-ups in Europe’s capital-intensive Series B and C stages with initial investments of €15-40 million per company and potential total exposure up to €100 million, anchored by a €350 million commitment from the European Investment Fund.[1][3]
Technically, the fund innovates by “productizing” non-dilutive instruments like venture debt and asset-backed facilities alongside equity to minimize founder dilution during high-cost transitions from prototypes to factory-scale production and global deployment.[1] Implications include catalyzing €100 million+ rounds, accelerating industrial metrics like factories built and megawatts installed, an
🔄 Updated: 2/5/2026, 1:40:58 AM
Spain-based Mundi Ventures has completed a **€750 million first close** for Kembara Fund I, its largest fund to date, with potential to reach €1.25 billion at final closing[1][3]. The deep tech and climate megafund secured a €350 million cornerstone commitment from the European Investment Fund under the European Tech Champions Initiative and plans to deploy capital into roughly 20 companies at Series B and C stages, writing initial checks between €15 million and €40 million with follow-on capacity reaching up to €100 million per company[1][2]. Co-founder Yann de Vries described raising €750 million in two years as "
🔄 Updated: 2/5/2026, 1:50:57 AM
**LIVE NEWS UPDATE: Mundi Ventures Finalizes €750M First Close for Kembara Deep Tech-Climate Fund**
Mundi Ventures has finalized a €750 million first close for Kembara Fund I, targeting Europe's deep tech scale-ups tackling global challenges like **climate change**, with a €1 billion total target backed by high-profile investors including SpaceX and Palantir backers, as well as a €350 million commitment from the European Investment Fund (EIF).[1][2][4][6] The fund aims to empower "Europe’s future global champions" in groundbreaking science and engineering, fostering a "sustainable, innovative, and technologically advanced future for Europe and beyond," potentially accelerating worldwide climate solutions amid Europe's billions in early-stage