According to Bloomberg, Chris Sacca’s VC firm, Lowercarbon Capital, is launching a follow-up fund to support companies focused on nuclear fusion energy, as the VC mentioned during the SOSV Climate Tech Summit on Thursday.
The firm has previously invested in fusion startups such as Commonwealth Fusion Systems and Pacific Fusion. In 2022, it launched a $250 million fund dedicated to fusion ventures. Despite the challenges, fusion advocates, including numerous prominent climate VCs besides Sacca (such as Vinod Khosla), remain optimistic that a commercially viable breakthrough is imminent. Several recent developments suggest such a breakthrough could be within reach.
However, constructing fusion reactors requires significant capital. Commonwealth secured $863 million earlier in the year, following a $1.8 billion Series B round four years prior. TechCrunch has reported on over a dozen fusion startups that have collectively raised over $100 million.
While Sacca didn’t disclose the size of the new fund, a source informed Bloomberg that it is expected to exceed the initial fund’s size.
