Venture fund Lowercarbon Capital, founded by Chris Sacca to focus on climate tech and decarbonization, is making waves. From today’s announcement at the SOSV Climate Tech Summit, the venture capital firm is in the process of raising a second fund dedicated to cultivating the best nuclear fusion energy startups in the world. The size of this new fund has not yet been announced. Industry sources say it’s intended to beat the $250 million raised by Lowercarbon’s inaugural fusion energy fund in 2022.
Chris Sacca, an ardent promoter of fusion energy, walks hamstrung Lowercarbon Capital’s founder’s objective to finance breakthrough companies in this area. The firm has previously invested in notable entities such as Commonwealth Fusion Systems and Pacific Fusion, both of which are recognized for their potential to revolutionize energy production through nuclear fusion.
Commonwealth Fusion Systems, another deep tech startup backed by the notorious Lowercarbon Capital, just closed $863 million this past spring. This notable funding continues the momentum from its last success — a $1.8 billion Series B round raised four years ago. Because of this rising investor confidence in fusion tech, there’s been a huge pool of available capital coming in. This increase further highlights Commonwealth’s status as a leader in the nuclear fusion field.
During the summit, Sacca expressed his optimism that we could see positive developments in fusion energy in the near future. He immediately teamed up with other successful climate venture capitalists, like Vinod Khosla, who all fervently believed in this tech. The increasing interest and investment from various prominent figures in the climate tech space signal a collective belief that fusion energy could play a pivotal role in addressing global energy challenges.
Lowercarbon Capital’s entire fund is committed to investing in nuclear fusion energy startups. This focus is actually part of a much larger story emerging from the investment community. Other prominent climate VCs are all aggressively sniffing around the fusion space. This momentum is a tremendous vote of confidence in this revolutionary technology’s potential.
