VC Firm Raises $1.2 Billion to Find and Fund the Next Elon Musk
The Silicon Valley firm thinks real-world industries will define the next decade of tech.
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Silicon Valley investment firm Eclipse has raised $1.2 billion for two new funds, both dedicated to backing startups trying to modernize physical industries.
The funds bring the Palo Alto, California-based firm’s total assets under management to $4 billion, Eclipse announced Monday. One fund, worth $720 million and called Eclipse Fund V, will focus on young companies with an emphasis on manufacturing, supply chain, transportation and electrification businesses. The remainder of the money will go to Early Growth Fund II, which will back more mature companies.