Chris Sacca’s VC firm is raising a second nuclear fusion fund

Lowercarbon Capital, the venture capital firm founded by Chris Sacca, has announced its plans to establish a second fund dedicated to investing in nuclear fusion technology. This announcement came during the SOSV Climate Tech Summit, as reported by Bloomberg. The firm has previously supported notable fusion startups, including Commonwealth Fusion Systems and Pacific Fusion. In 2022, Lowercarbon Capital successfully raised a $250 million fund focused on fusion energy initiatives. Advocates of fusion technology, including prominent climate-focused venture capitalists like Vinod Khosla, remain optimistic about the potential for a breakthrough that could make fusion commercially viable. Recent developments in nuclear fusion have shown promise, although the construction of fusion reactors remains a costly endeavor. Earlier this year, Commonwealth Fusion Systems secured $863 million in funding, following a substantial $1.8 billion Series B round four years ago. Reports indicate that there are at least a dozen fusion startups that have each raised over $100 million. While specific details about the size of the new fund have not been disclosed by Sacca, sources suggest it is expected to exceed the scale of the initial fund.