Observed Signal · Jul 9, 2024 · Funding · Source: Tech.eu · Impact: 2/5 · Sentiment: Positive
EIF invests €350M in Kembara deeptech and climate fund
The European Investment Fund (EIF) has announced a €350 million investment into Kembara Fund I FCR, a pan-European venture capital fund targeting a total size of €1 billion. Managed by Madrid-based Mundi Ventures, the fund will focus on deeptech and climate startups in growth stages (Series B and C), primarily in Germany, Spain, France, Sweden, and other EU member states. EIF acts as lead investor under the European Tech Champions Initiative (ETCI), a European Union fund-of-funds aimed at supporting high-growth technology scale-ups. The investment aims to mobilize additional capital and reinforce Europe's strategic autonomy. Quotes from EIF CEO Marjut Falkstedt and Mundi Ventures co-founder Javier Santiso highlight the importance of supporting ambitious deep tech entrepreneurs. The fund will target areas including AI, quantum computing, robotics, space technology, advanced materials, and new-generation energy systems, which are considered critical for EU competitiveness.
Significant investment in deep tech and climate tech via a new VC fund, potentially supporting AI and tech innovation that could influence the broader adtech ecosystem, though indirectly.
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Key Takeaways & Evidence Grounding
- European Investment Fund (EIF) invested €350 million into Kembara Fund I FCR.
- Kembara Fund I FCR has a target size of €1 billion.
- The fund is managed by Mundi Ventures, a Spanish company.
- Kembara will focus on deeptech and climate startups in Series B and C, primarily in Germany, Spain, France, and Sweden.
- EIF is the lead investor under the European Tech Champions Initiative (ETCI).
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