Ex-Meta CTO Mike Schroepfer raises $250M climate fund
Original: Zigging when most are zagging, ex-Meta CTO raises $250M climate fund
Why This Matters
Climate tech funding continues despite sector cooling as AI drives energy demand
Former Meta CTO Mike Schroepfer's Gigascale Capital raised a $250 million second fund to invest in climate tech startups focused on energy, grid infrastructure, and critical minerals, continuing focus despite sector skepticism.
Gigascale Capital, led by former Meta CTO Mike Schroepfer, announced a $250 million second fund targeting climate tech startups in energy, grid infrastructure, and critical minerals. The firm maintains its climate focus despite industry skepticism around climate tech investments. Gigascale's portfolio includes Commonwealth Fusion Systems, Heron Power, Mill, and Form Energy. The fund emphasizes energy generation as AI demand drives electricity needs, with natural gas turbines facing waitlists into the early 2030s. Schroepfer believes companies providing cheaper, faster power will gain competitive advantages. The fund targets startups that win through superior performance rather than just climate benefits, with Schroepfer stating backed companies succeed by being 'cheaper, faster, and more reliable.'