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Source: VentureBeat
Summary
Kembara, a Spain-based deeptech and climate megafund, has achieved a €750 million first close towards its €1 billion target. The fund focuses on climate-related investments.
Our Reading
The launch follows a familiar script.
Kembara’s €750 million first close is just the latest example of a fund rebranding the same old ideas as “progress”. We’ve seen this before – a big number, a flashy name, and a promise to change the world. But let’s be real, it’s just the same old venture capital game with a new coat of paint.
This fund’s focus on climate-related investments is no doubt a response to the current zeitgeist, but it’s hard not to feel like we’re just going through the motions. “Impact investing” has been a buzzword for years, and yet, the results are still lacking.
And what’s with the “megafund” label? Is it just a way to make the number seem bigger? We’re not impressed.
In the end, Kembara’s €750 million first close is just another drop in the ocean of venture capital hype. We’ll believe it when we see some actual results.
Original Observation:
This is just another example of the same old “innovation” being rebranded as “progress”.
Author: Evan Null
