Chris Sacca’s Lowercarbon Capital Launches Second Nuclear Fusion Fund to Accelerate Clean Energy Innovations
In a significant move to bolster the advancement of clean energy technologies, Chris Sacca’s venture firm, Lowercarbon Capital, has announced the initiation of a second fund dedicated to supporting nuclear fusion startups. This development was revealed during the SOSV Climate Tech Summit, as reported by Bloomberg.
Lowercarbon Capital has been a prominent player in the fusion energy sector, previously investing in leading startups such as Commonwealth Fusion Systems and Pacific Fusion. In 2022, the firm raised a $250 million fund specifically aimed at fusion energy ventures. The decision to launch a second, larger fund underscores the firm’s commitment to accelerating the commercialization of fusion energy.
The pursuit of nuclear fusion as a viable energy source has garnered substantial interest from various investors. Notably, Vinod Khosla, a well-known climate venture capitalist, shares the optimism that a breakthrough in fusion technology is imminent. Recent advancements in the field have further fueled this optimism, suggesting that fusion energy could soon become a practical solution to global energy challenges.
However, the development of fusion reactors remains a capital-intensive endeavor. For instance, Commonwealth Fusion Systems secured $863 million earlier this year, following a $1.8 billion Series B funding round four years prior. This substantial financial backing reflects the high costs associated with bringing fusion technology to market.
While Sacca did not disclose the exact size of the new fund, sources indicate that it is intended to surpass the previous $250 million fund, highlighting the escalating investment in fusion energy initiatives.
