Core Insights - Europe is investing billions into early-stage climate startups, but many fail at the Series B stage, highlighting a gap in growth capital [2] - Mundi Ventures has launched Kembara Fund I, raising €750 million in its first close, with a potential final closing of €1.25 billion [3][4] Fund Details - Kembara Fund I received a €350 million commitment from the European Investment Fund as part of the European Tech Champions Initiative [2] - The fund is managed by a specialized team within Mundi Ventures, with offices in Madrid, London, Barcelona, and Paris [3] - The fund's general partners include experienced venture capitalists and industry experts, enhancing its credibility and fundraising capabilities [4] Investment Strategy - Kembara Fund I aims to focus on Series B and C funding rounds, planning to invest between €15 million and €40 million in approximately 20 companies [6] - The fund's total investment per company could reach up to €100 million, allowing for follow-on investments to support scaling and global expansion [6] Market Context - The European startup ecosystem is facing a scale-up problem rather than an innovation or startup problem, as noted by Kembara's co-founder [6] - The fund's strategy is designed to address the challenges faced by European climate and deep tech startups, particularly in securing necessary growth capital [5][6]