Chris Sacca’s investment firm, Lowercarbon Capital, is in the process of launching a second fund focused on supporting nuclear fusion energy startups, according to Sacca’s remarks at the SOSV Climate Tech Summit on Thursday, as covered by Bloomberg.
The firm has previously invested in top fusion company Commonwealth Fusion Systems, along with others such as Pacific Fusion. In 2022, it secured $250 million for a fund dedicated to fusion. Many advocates of fusion—including prominent climate investors besides Sacca, like Vinod Khosla—remain optimistic that a key breakthrough to make fusion commercially practical is close at hand. Recent progress in the field has further fueled this optimism.
However, constructing fusion reactors remains a costly endeavor. Earlier this year, Commonwealth secured $863 million in funding, following a $1.8 billion Series B round four years prior. TechCrunch has tracked at least a dozen fusion startups that have each raised more than $100 million.
Sacca did not disclose the target size for this new fund, but Bloomberg cited a source saying it is expected to surpass the previous fund in scale.
