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.
PaXini Tech, a robotics firm backed by Chinese EV giant BYD, is considering a Hong Kong initial public offering. The move reflects growing investor appetite in the advanced robotics sector.
Board, a new gaming startup from Mirror founder Brynn Putnam, has closed a $20M Series A round led by Union Square Ventures. The company has already sold thousands of units.
Social event planning app Partiful is launching an in-app ticketing feature, marking its first major step toward generating revenue. The move lets users sell tickets directly through the platform.
Board, a New York startup that makes a 24-inch touchscreen device merging board games with video game interactivity, has closed a $20M Series A funding round. The company reports it has already sold tens of thousands of units.