Chris Sacca’s venture firm LowerCarbon Capital is raising a second fund to support nuclear fusion energy hopes, the VC said. SOSV Climate Tech Summit on thursday, As reported by Bloomberg.
The firm has backed leading fusion startup Commonwealth Fusion Systems as well as other startups such as Pacific Fusion. It raised $250 million fusion-geared fund in 2022. Fusion believers, who count several well-known climate VCs beyond Sakka (like vinod khosla), still believe the breakthrough needed to make it commercially viable is just around the corner. and many progress showing promise To make it so.
Meanwhile, the effort to build is expensive. commonwealth First raised $863 million This year after raising $1.8 billion in Series B four years ago. TechCrunch has A dozen fusion startups documented Which has raised more than $100 million.
Sacca did not say how big this second fund would be, but a source told Bloomberg it intends to be bigger than the first fund.
