Mike Schroepfer, former Chief Technology Officer at Meta, has raised $250 million for Gigascale Capital, a fund focused on backing founders developing climate solutions for global energy and material shortages.
Schroepfer's new fund targets the intersection of climate technology and resource scarcity, backing companies working on sustainable energy alternatives and material innovations. The capital raise demonstrates sustained investor interest in climate tech despite broader venture pullbacks in recent years.
Gigascale Capital positions itself to support founders addressing the physical constraints facing global infrastructure. The fund's focus on energy and materials reflects a strategic approach to climate challenges that extend beyond carbon reduction alone.
Schroepfer left Meta in 2022 after eight years as the company's CTO. His move into climate-focused venture capital follows a broader trend of tech executives shifting focus toward sustainability challenges, though Gigascale's substantial fund size sets it apart in a crowded space.
The fund's launch comes as climate tech continues to attract capital despite economic headwinds affecting the broader venture ecosystem.
Chamelio secured $26M in Series A funding to expand its AI platform designed to automate routine legal tasks while routing complex cases to human lawyers. Entrée Capital backed the round.
Snorkel AI, a data startup offering an "agentic data development platform," secured $350 million in funding at a $3.5 billion valuation, according to CEO Alex Ratner.
Baselayer, an AI platform helping financial institutions verify businesses and assess fraud risk, secured $35M in Series A funding led by M13. The round brings total funding to approximately $40M.
Bill Gates' Breakthrough Energy is backing 21 startups to tackle energy demands expected to surge far beyond current data center consumption. The fund targets electrification as the next major challenge for global energy infrastructure.