Led · Equity · Jul 2026

Forge Industries develops engineered industrial fuels made from plastics and other hard-to-recycle waste that can directly replace coal in sectors such as cement, steel, lime, and power generation without requiring changes to existing equipment. Founded in 2022 and led by CEO Chelsea Boyle, the company progressed from producing 100–200 kg batches to industrial-scale pilots exceeding 100 tons by 2025. Forge aims to establish a circular fuel network in the U.S., with plans to develop its first U.S. biofuel facility outside Las Vegas later this year. The company raised $3.85 million in a round co-led by Next Phase Capital and 8090 Industries to fund that expansion and commercialization. Leadership highlights include Boyle’s founding inspiration from research in West Africa and Next Phase Capital’s Shelly Sun Berkowitz joining as an investor and board observer to support scaling efforts.

Led · Series B · May 2026

Armada builds and delivers modular AI infrastructure — including Galleon manufacturing systems, Leviathan megawatt-scale modular data centers, and Triton portable units — for high-density training, inference, sovereign neo-cloud and multi-tenant compute environments. The company has documented rapid commercial traction, reporting 540% customer bookings growth in FY25–26 and a 2000% bookings increase in Q1 FY27 year-over-year. Armada has supported defense and commercial deployments, including a rapid Triton field deployment for a defense ally, a U.S. Navy edge deployment during a multinational exercise, a WinDC renewable-energy-backed AI factory deployment in Australia, and trials with Aker BP for offshore rig use. Armada is expanding manufacturing capacity with Galleon Forge One, a planned up-to-400,000-square-foot factory in Arizona expected to create about 500 jobs, enabled by a framework agreement and investment from Johnson Controls. The company has built an ecosystem and marketplace with partners including Microsoft, NVIDIA, Palantir and Dell Technologies to accelerate customer deployments and maintain control over sensitive data and models. Armada has raised capital totaling nearly half a billion dollars to date and is using that funding to scale production, meet accelerating global demand, and support new initiatives.

Participated · Seed · Apr 2026

Rilian develops Caspian, an AI-native agentic security orchestration platform that provides a single command layer to integrate, operate, and automate cyber and defense capabilities. Its pre-trained AI agents are designed to amplify analyst productivity, capture institutional knowledge, and operate in private/sovereign cloud, on-premise, air-gapped, and compliance-constrained environments. The company emphasizes rapid deployment timelines and sovereign-friendly architectures for governments, critical infrastructure operators, and commercial customers. Rilian was founded by Christian Schnedler, Nick Pompeo, and Dan Fischer and is based in McLean, Va. It has announced strategic partnerships with vendors such as SentinelOne, Censys, and SimSpace and in July 2025 signed a contract with the UAE Cybersecurity Council to implement Caspian at the UAE National Security Operations Center. The company positions itself to accelerate adoption of agentic AI across U.S. and allied defense and security programs.

Led · Series C · Mar 2026

Nscale builds and operates vertically integrated AI data centers, controlling everything from renewable energy sourcing and facility construction to the compute stack and orchestration layer. Backed by Nvidia, the company is developing ‘Stargate Norway,’ an installation targeting 100,000 Nvidia GPUs by the end of 2026 with OpenAI as an initial customer. In October it also partnered with Microsoft and Dell to deploy roughly 200,000 Nvidia GPUs across four data centers in Europe and the U.S. The firm positions itself as a low-cost, green alternative for AI compute, pledging to reuse waste heat and invest in local skills and infrastructure. Its latest funding round values the company at $14.6 billion, placing it among Europe’s few AI decacorns. Nscale plans to use the new capital to accelerate build-outs in Europe, North America and Asia while expanding its engineering and operations teams. The company has hinted at a possible IPO as early as this year to further bolster its capital base. High-profile board appointments—including Sheryl Sandberg, Susan Decker and Nick Clegg—underscore its growing prominence.

Participated · Equity · Feb 2026

Avalanche Energy is pursuing a radically miniaturized approach to nuclear fusion, building reactors as small as nine centimeters in diameter that confine plasma with high-voltage electric fields augmented by modest magnets. By keeping devices tiny, the team can test design changes multiple times per week, dramatically speeding learning cycles compared with multi-story tokamaks or laser arrays. A forthcoming 25-centimeter reactor is projected to generate about 1 MW of fusion power and deliver longer confinement times needed to push the system past breakeven (Q>1). The company operates FusionWERX, a commercial test facility it also rents to peer fusion startups, and expects the site to be licensed to handle tritium fuel by 2027. CEO Robin Langtry, who co-founded Avalanche after working at Blue Origin, believes the firm’s timeline is on par with larger efforts like Commonwealth Fusion Systems and Helion, anticipating industry-wide milestones between 2027 and 2029. Financially, Avalanche has collected $80 million in total funding to date—relatively modest in a sector where rivals have raised hundreds of millions to several billions of dollars. The company’s strategy relies on capital efficiency through small-scale hardware rather than the massive, costly builds typical of fusion research.