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

Chris Sacca’s investment firm Lowcarbon Capital is raising a second round of funding to support nuclear fusion energy hopefuls, the venture capital said at the conference. SOSV Climate Technology Summit Thursday, As reported by Bloomberg.

The company has backed leading fusion startup Commonwealth Fusion Systems, as well as other companies such as Pacific Fusion. It has raised a $250 million merger-oriented fund in 2022. Believers in the merger, which include a number of well-known climate venture capital funds outside of Saka (Like Vinod Khosla), they still believe that the breakthrough needed to make it commercially viable is just around the corner. And many advances Show promise From one delivery.

Meanwhile, nuclear fusion reactors are expensive to build. Commonwealth It raised $863 million earlier this year, after raising a $1.8 billion Series B four years ago. TechCrunch has it Documented dozens of startups in the field of fusion Which raised more than $100 million.

Sacca did not mention the size of this second fund, but a source told Bloomberg that it is supposed to be larger than the first.