Palo Alto, California-based venture firm Eclipse Ventures has received $1.2B in capital commitments towards two new funds to back startups modernizing physical industries, per Bloomberg.
$720M of the capital is earmarked to back early-stage startups in the
manufacturing, supply chain, transportation, and electrification sector.
The remaining capital is earmarked for the Early Growth Fund II to
invest in mature startups.
- The new fund brings the firm's total assets under management (AUM) to $4B.
- Eclipse's early-stage fund is set to be its largest yet to date.
- It last closed its Fund IV at $500M in April 2021.
- Last week, the firm led a $17M Series A round into True Anomaly, a spacecraft and space materials startup based in Denver, Colo.
- Charly
Mwangi, a former executive with electric vehicle company Rivian, will
provide guidance to early-stage startups in Eclipse's portfolio.
