Kembara just closed €750M toward a €1B growth fund aimed squarely at European deep tech, and yes, it’s the biggest of its kind on the continent. The pitch: stop the talent and tech export by funding scale rounds that local VCs usually can’t lead. The founders promise Medici-energy for a “second Renaissance.” Bold claim.
Quick facts:
Why it matters: Big checks solve a real problem. European deep-tech founders hit cap limits between Series B and C, and big manufacturing or chip plays need tens of millions to scale. A dedicated growth vehicle that understands regulatory, manufacturing and capital cycles can keep breakthroughs from getting bought and shipped overseas.
But size isn’t the same as structural change. The team is heavy on growth and deep-tech pedigrees - ex-Atomico, IP Group, and serial operators who’ve worked with breakthrough companies. That’s useful. What’s missing is a visible D&I strategy. The public narrative leans elite and experienced, not diverse. That raises two risks: narrower deal flow, and optics that may deter founders from underrepresented backgrounds.
Net: This fund is exactly what Europe’s deep tech needed on paper - real capital and hands-on operators. Just don’t mistake big checks for a perfect answer. If Kembara wants to spark a “second Renaissance,” they’ll need more than Medici vibes - they’ll need broader talent at the table.
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