But new funds are being raised to fill this gap, and Spain-based Mundi Ventures’ latest fund, Kembara Fund I, is one of them. Regulatory filing from Spain reveals that the fund — focused on deep tech — could even stretch its final closing to €1.25 billion. Mundi Ventures founder Javier Santiso is now also a co-founder and GP of the Kembara fund, which has now disclosed the full list of its senior partners. But it also gave them a front-row seat into the broader growing pains of European climate and deep tech startups — especially de Vries. Still, the capital-intensive nature of most climate and deep tech growth-stage companies means that even large VC checks can only go so far.