Ex-Meta CTO Schroepfer's Gigascale Closes $250M Climate Tech Fund

Gigascale Capital, the venture firm founded by former Meta Chief Technology Officer Mike Schroepfer, announced on June 1, 2026, that it has raised a $250 million fund to invest in climate technology startups. The fund will target energy, grid infrastructure, and critical minerals, bucking a trend of waning investor enthusiasm for the climate tech label. The second fund from Gigascale is its first to include institutional investors and will focus on early-stage companies. The firm's existing portfolio includes fusion startup Commonwealth Fusion Systems and battery maker Form Energy. The fund launch comes as surging electricity demand from artificial intelligence and broader electrification puts pressure on power grids, creating opportunities for cheaper, faster-to-deploy energy sources. Schroepfer said that for energy-intensive industries, generating their own power “is going to be a competitive advantage over time.” Gigascale also plans to invest in grid infrastructure, critical minerals, and physical AI. The firm's thesis holds that climate impact results from better-performing systems, not just green mandates.