Chris Sacca’s enterprise agency Lowercarbon Capital is elevating a second fund to again nuclear fusion power hopefuls, the VC stated on the SOSV Climate Tech Summit on Thursday, as reported by Bloomberg.
The agency has backed main fusion startup Commonwealth Fusion Methods, in addition to others like Pacific Fusion. It raised a $250 million, fusion-geared fund in 2022. Fusion believers, who embody a lot of well-known local weather VCs past Sacca (like Vinod Khosla), nonetheless maintain religion that a breakthrough wanted to make it commercially viable is simply across the nook. And several other advances are displaying promise of delivering one.
Within the meantime, constructing fusion reactors is dear. Commonwealth raised $863 million earlier this 12 months, after elevating a $1.8 billion Sequence B 4 years in the past. TechCrunch has documented a dozen fusion startups which have raised over $100 million.
Sacca didn’t say how huge this second fund will probably be, however a supply advised Bloomberg that it’s supposed to be greater than the primary.
