Chris Sacca’s Lowercarbon Capital to Raise Second Fund for Nuclear Fusion Energy Startups
Chris Sacca’s venture firm Lowercarbon Capital is gearing up to raise a second fund to support nuclear fusion energy startups, as announced at the SOSV Climate Tech Summit. The VC firm has already backed leading fusion startup Commonwealth Fusion Systems, along with others like Pacific Fusion. In 2022, Lowercarbon Capital raised a $250 million fund specifically focused on fusion energy.
Despite the challenges, fusion believers, including prominent climate VCs like Vinod Khosla, remain optimistic about the potential for a breakthrough that could make fusion energy commercially viable. Recent advancements in the field are showing promise and fueling excitement within the industry.
However, the road to developing fusion reactors is costly. Commonwealth Fusion Systems, for example, secured $863 million in funding earlier this year, following a $1.8 billion Series B round four years ago. JS has highlighted numerous fusion startups that have raised substantial amounts, with over a dozen surpassing $100 million in funding.
While Sacca did not disclose the exact size of the upcoming fund, sources indicate that it is expected to exceed the initial fund’s size. This new fund will further support innovative nuclear fusion energy startups in their quest to revolutionize the energy sector.
