Lowercarbon Capital, the venture firm founded by Chris Sacca, is expanding its support for nuclear fusion energy startups by raising a second fund dedicated to backing promising ventures in the fusion energy sector. This initiative was revealed by Sacca during the SOSV Climate Tech Summit, as reported by Bloomberg.
Lowercarbon Capital has already invested in leading fusion startup Commonwealth Fusion Systems and other notable players like Pacific Fusion. In 2022, the firm raised a $250 million fund specifically focused on fusion energy. Despite the high costs associated with building fusion reactors, the investor community remains optimistic about the potential of fusion technology, with well-known climate VCs like Vinod Khosla expressing confidence that a breakthrough to achieve commercial viability is on the horizon. Recent advancements in fusion technology have shown promising signs of progress.
While the exact size of this new fund has not been disclosed, sources mentioned by Bloomberg indicate that it is expected to exceed the size of the initial fund. The increasing financial support for fusion energy startups, including the substantial investments made by Commonwealth Fusion Systems, highlights the growing interest and confidence in the potential of nuclear fusion as a clean, sustainable energy source for the future.
Source: TechCrunch