Gigascale Capital announced the close of its first institutional fund, raising $250 million to invest in early-stage companies rebuilding the physical economy through innovations in energy, materials, infrastructure, and industrial technology.
Founded in 2023 by former Meta CTO Mike Schroepfer, along with Victoria Beasley and Evaline Tsai, Gigascale Capital has already invested in more than 25 startups focused on clean energy, advanced manufacturing, grid infrastructure, and physical AI. The firm targets technologies that can become cheaper, more productive, and cleaner than existing solutions as they scale.
The firm believes major trends, including rapid electrification, industrial reshoring, AI deployment, and increasingly severe weather events, are placing pressure on aging physical systems. As a result, Gigascale is focusing investments on clean energy and grid infrastructure, supporting supply chains, and artificial intelligence applications that improve the design, manufacturing, and deployment of physical systems.
Gigascale’s portfolio includes notable founders such as Drew Baglino, Tesla’s former Senior Vice President of Powertrain and Energy, who is now building industrial power electronics company Heron Power, and Thiel Fellow Hooman Nezhad, founder of rare-earth supply chain startup Solcoa.
Several portfolio companies have recently achieved significant milestones. Radiant is advancing toward one of the first commercial deployments of nuclear microreactor technology in the United States. Xcimer Energy achieved first light on its commercial fusion laser system in late 2025. Arbor Energy signed an agreement with GridMarket to provide up to 5 GW of zero-emission baseload power for data centers. Fractile announced a $136 million expansion to boost production of AI processors designed to reduce energy and cooling requirements. Dioxycle entered a multi-year agreement with L’Oréal to convert captured carbon emissions into ethylene for packaging materials, while Mill is expanding deployment of food recycling systems across Whole Foods locations and commercial kitchens.
According to the firm, the new fund will allow Gigascale to continue supporting founders from their earliest stages through scaled deployment, while also pursuing complementary investment opportunities as they emerge.
KEY QUOTES:
“I’ve spent my career building technology that removes constraints. The pattern is always the same: cost curves bend, markets scale, and a better alternative makes the old way obsolete. Solar went from 40 gigawatts a year to 600 in a decade because it got cheaper, not because it got more virtuous. The companies we back win because they’re cheaper, faster, and more reliable. That’s how adoption scales. Climate impact is the result of better-performing systems.”
Mike Schroepfer, Founding Partner, Gigascale Capital
“Very few people have successfully scaled cutting-edge technology and delivered it to the world. Even fewer can go deep on the novel physics, the operational work, and the people at the same time. Mike Schroepfer and his team do all of it, and their expertise shines through.”
Bob Mumgaard, CEO and Co-Founder, Commonwealth Fusion Systems
“The big opportunities of the next decade are not in either hardware or software. They’re at the integration of both, at once. We need teams fluent in physics, manufacturing, artificial intelligence, and deployment, as well as investors who can partner through all of it. That combination is rare, and it’s why Gigascale is exactly the kind of partner we wanted on our cap table.”
Jagdeep Singh, CEO and Co-Founder, Rhoda AI
“I’ve spent over a decade in clean energy, through the solar buildout, the hard years, and the hype cycles. What’s different now isn’t narrative. Cost curves have moved, founders can build and deploy faster than ever, and companies being built today are winning on performance, not promise.”
Victoria Beasley, General Partner, Gigascale Capital
