Kembara
Kembara is a Barcelona-based, pan-European deep tech venture capital fund managed by Mundi Ventures, investing €15-40M per company in European Series B and C rounds across AI, robotics, clean energy, quantum, space, and advanced materials.
- Company typePrivate
- Founded2023
- HeadquartersBarcelona, Spain
- Headcount1–10
- GTM typeB2B
- OfferingServices
What Kembara does
Kembara is a Barcelona-headquartered, pan-European deep tech venture capital fund that invests growth-stage capital into Series B and C rounds of European companies built on fundamental science or engineering breakthroughs. Managed by Mundi Ventures (Alma Mundi Ventures), the firm operates a single €1 billion-target vehicle, Kembara Fund I, anchored by a €350 million commitment from the European Investment Fund and a €100 million commitment from Criteria Caixa, with €750 million secured at first close in February 2026. The fund writes initial checks of €15-40 million with capacity to deploy up to €100 million total per portfolio company, targeting sectors including science-focused AI, robotics and automation, clean energy, future-of-compute (quantum, photonic, neuromorphic), space tech, and designed materials.
Kembara's core differentiator is capital scale: it is positioned as Europe's largest dedicated deep tech growth fund, addressing a market gap in which 97% of European deep tech funds are too small for growth-stage rounds and only 3% of European deep tech companies successfully raise Series B or C capital. Beyond capital, the fund provides operational support including introductions to strategic acquirers, public market investors, and non-dilutive financing (grants, debt, project finance), alongside manufacturing and industrialization expertise drawn from a pan-European team based in Madrid, London, Paris, and Zurich.
The business model is a standard institutional venture capital structure: management fees on committed capital (~2% annually) and carried interest on fund returns, with no product or service revenue line. The five-partner team — Javier Santiso (Founder/GP, ex-OECD, Khazanah Europe CEO, Mundi Ventures CEO), Yann de Vries (Co-Founder/GP, ex-Atomico partner, Lilium VP Corp Dev), Robert Trezona (Senior Strategic Advisor, Kiko Ventures founder), Pierre Festal (Partner, ex-Promus Ventures), and Siraj Khaliq (Senior Strategic Advisor, Climate Corporation founder/CTO, Atomico deep tech partner) — claims over 100 years of combined deep tech operating and investing experience. As of May 2026, Kembara has made one disclosed portfolio investment: co-leading the $160 million Series C in UK-based Quantum Motion (silicon-spin qubit quantum computing).
Kembara firmographics
Firmographics- Name
- Kembara
- Legal name
- Kembara Fund I
- Website
- https://kembara.vc
- Company type
- Private
- Founded year
- 2023
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- Kembara is a Barcelona-based, pan-European deep tech venture capital fund managed by Mundi Ventures, investing €15-40M per company in European Series B and C rounds across AI, robotics, clean energy, quantum, space, and advanced materials.
- Ownership category
- akta.pro rank
Kembara industry classification
Industry- Product category
- Venture Capital / Growth Equity Investing
- NAICS
- Portfolio Management and Investment Advice (523940), Other Investment Pools and Funds (5259)
- SIC
- Investment Advice (6282)
- akta.pro primary industry
- Impact Investment & Development Investment Funds (BPADACAO)
- akta.pro secondary industry
- Capital Raising Advisory (Debt/Equity/Private Capital) (BPAHADAG)
Keywords
Where Kembara is headquartered
LocationHeadquarters
- HQ city
- Barcelona
- HQ country
- Spain
- HQ region
- Europe
Offices5 records
Markets served
Kembara business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Technology or R&D, Others
Distribution channels1 record
Marketing channels3 records
Kembara product offering
Product offeringCore offering
Kembara is a European deep tech growth venture capital fund that invests €15-40M initially (up to €100M total per company) in Series B and C rounds of European deep tech companies. Beyond capital, the fund provides strategic guidance, operational support, access to non-dilutive capital such as grants and project finance, manufacturing and industrialization expertise, and introductions to strategic acquirers and public-market investors. The fund targets sectors including science-focused AI, robotics and automation, clean energy, future of compute (quantum, photonic, neuromorphic), space tech, and designed materials.
Product overview
Kembara is a single unified deep tech growth fund managed by Mundi Ventures, not a multi-product platform. The core offering is Kembara Fund I, a €1 billion deep tech investment vehicle targeting European Series B and C stage companies. The fund provides investment capital (€15-40M initial, up to €100M total per company) alongside operational support services including access to non-dilutive capital, manufacturing expertise, and connections to strategic acquirers and public market investors. Focus areas include AI, quantum computing, robotics, clean energy, space tech, and designed materials.
Differentiator
Problem solved
Functional benefit
Products and services
- Kembara Fund I Europe's largest dedicated deep tech growth fund targeting Series B and C rounds, with €15-40M initial investment per company and up to €100M total investment capacity per portfolio company. Managed by Mundi Ventures, anchored by the European Investment Fund (€350M) and Criteria Caixa (€100M), the fund invests in European deep tech companies solving problems in AI, quantum computing, robotics, clean energy, space tech, and designed materials.
- Deep Tech Growth Investment Advisory Growth-stage investment advisory provided alongside Kembara Fund I capital, including operational support, access to non-dilutive capital (grants, debt, project finance), manufacturing and industrialization expertise, regulatory navigation support, and connections to strategic acquirers and public-market investors for European deep tech portfolio companies.
Companies that use Kembara
Customer profileSegments2 records
Ideal customer profiles1 record
Kembara technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Kembara partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- GlobalFoundriescoreQuantum Motion deepened its GlobalFoundries manufacturing partnership for 300mm silicon CMOS quantum chip production. GlobalFoundries manufactures the silicon chips used in Quantum Motion's quantum processors using standard semiconductor processes.
Scale indicators8 records
Recent moves8 records
Expansion highlights5 records
Kembara competitors and assessment
Company assessmentDirect peers
- Plural Platform: European early-to-growth deep tech investor backing science- and engineering-led companies across climate, compute, biotech and space — closely overlapping Kembara's mandate and geography at Series A through C stages.
- Earlybird: One of Europe's longest-standing tech and deep tech venture investors, with growth-stage vehicles that compete head-to-head with Kembara for Series B/C rounds in European deep tech (semiconductors, robotics, energy).
- Breakthrough Energy Ventures: Bill Gates-backed deep tech fund focused on climate, energy and frontier science — overlapping heavily with Kembara's clean energy and future-of-compute theses and competing for similar founders at similar stages.
- Atomico: European venture firm founded by Niklas Zennström with a deep tech and tech focus, and former employer of multiple Kembara partners (Yann de Vries, Siraj Khaliq). Operates across similar geographies and stage with comparable check sizes.
- Lux Capital: US deep tech investor backing science-driven companies across quantum, space, AI infrastructure and energy. Frequently participates alongside European deep tech funds as a cross-Atlantic syndicate partner.
- DCVC: US-based deep tech venture firm that co-led Quantum Motion's $160M Series C alongside Kembara. Both firms write large growth-stage checks into science-based hardware (quantum, compute, energy), making DCVC the closest direct competitor and the natural co-invest partner.
Broad incumbents
- Balderton Capital: European early-to-growth technology investor with select deep tech exposure. Larger and more generalist than Kembara, but increasingly writing the kind of growth-stage checks that overlap with Kembara's mandate.
- Index Ventures: Pan-European growth investor with a growing deep tech allocation (compute, climate, bio). Lacks Kembara's pure deep tech focus but competes for the same Series B/C rounds in Europe.
- EQT Ventures / EQT Growth: Pan-European growth platform with both venture and later-stage vehicles writing checks of similar size to Kembara. A broader incumbent that increasingly targets deep tech as part of a wider European growth thesis.
Emerging players
- Speedinvest: European venture firm with a dedicated deep tech vertical (frontier compute, climate, industrial). Earlier-stage than Kembara but feeds the European Series B pipeline that Kembara ultimately invests in.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat6 records
Key risks6 records
Key highlights6 records
Customer concentration
Kembara social profiles
Digital presenceKembara financial estimates
Financial estimateRevenue estimate
Valuation estimate
Kembara leadership team
Management profileNumber of profiles
Profiles5 records
Kembara funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Kembara M&A and investment
M&A and investmentM&A
Investments2 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Kembara
What does Kembara do?
Kembara is a European deep tech growth venture capital fund that invests €15-40M initially (up to €100M total per company) in Series B and C rounds of European deep tech companies. Beyond capital, the fund provides strategic guidance, operational support, access to non-dilutive capital such as grants and project finance, manufacturing and industrialization expertise, and introductions to strategic acquirers and public-market investors. The fund targets sectors including science-focused AI, robotics and automation, clean energy, future of compute (quantum, photonic, neuromorphic), space tech, and designed materials.
Is Kembara a public or private company?
Kembara is a private company. It is classified as venture growth investor backed and is currently operating.
When was Kembara founded?
Kembara was founded in 2023. It employs 1 to 10 people.
Where is Kembara based?
Kembara is headquartered in Barcelona, Spain, in the Europe region.
Who are Kembara's main competitors?
Direct peers on record are Plural Platform, Earlybird, Breakthrough Energy Ventures, Atomico, Lux Capital and DCVC. Broad incumbents are Balderton Capital, Index Ventures and EQT Ventures / EQT Growth. Speedinvest is listed as an emerging player.
Does Kembara have an API?
No public API is recorded for Kembara.
What industry is Kembara in?
Kembara's product category is Venture Capital / Growth Equity Investing. Its primary akta.pro industry code is BPADACAO, Impact Investment & Development Investment Funds, with a secondary code of BPAHADAG, Capital Raising Advisory (Debt/Equity/Private Capital). Its NAICS code is 523940 and its SIC code is 6282.