Gigascale, the venture firm led by former Meta chief technology officer Mike Schroepfer, announced the closing of a $250 million fund focused on climate technology startups as of June 2026 [1, 2].
The fund targets companies developing new energy systems, grid infrastructure, critical minerals, and industrial decarbonization technologies that involve deep scientific and engineering work [1, 2]. It aims to back founders tackling complex energy and materials scarcity challenges, often on timelines extending up to 10 years to develop commercially viable solutions [2].
Schroepfer, who spent 13 years at Meta building global-scale infrastructure and artificial intelligence systems, is making a contrarian bet with this fund, as many venture capital firms have recently pulled back from climate tech due to lower financial returns [1, 2]. Despite this trend, he believes energy-intensive industries will gain competitive advantages by adopting "bring-your-own power" approaches, reflecting rising demand for clean energy driven by AI growth and electrification needs [1].
Gigascale has already backed several notable climate technology startups including Commonwealth Fusion Systems, Heron Power, Mill, and Form Energy, demonstrating a track record in the sector [1].
The fund was first announced on June 1, 2026, with a focus on supporting deep tech startups working on energy, grid infrastructure, and critical minerals solutions [1]. It recently closed successfully, marking an important capital commitment to the climate tech ecosystem [2].
Gigascale’s investment strategy looks aimed at backing long-term innovation needed to meet the growing global demand for clean energy solutions driven by technological and industrial changes. The fund will continue to seek out early-stage companies positioned to transform energy-intensive sectors through innovation.
