Participated · Equity · Feb 2022

Utilidata develops the Karman platform which provides dynamic power orchestration for AI data centers by embedding real-time visibility and control directly into power distribution equipment to generate stranded capacity. The solution is built on a custom NVIDIA Jetson Orin Nano and the company has experience embedding its technology into smart meters to bring real-time visibility and power-flow control to the electric grid. Led by CEO Josh Brumberger and based in Ann Arbor, Michigan, Utilidata is pursuing commercialization with hyperscalers and the data center market. Financially, the company completed a Series C totaling $100M after a $60.3M tranche in April 2025 and a $40M extension in May 2026. The May 2026 funds are intended to help consolidate its market position and scale deployments with large cloud and data center customers.

Participated · Series A · Feb 2021

Metalenz, which appeared in 2021, replaces traditional multi-element lens stacks with a complex, nearly-2D surface that captures light through a single lens to enable much smaller imaging modules. Its sensors are optimized not for conventional high-quality RGB photos but to provide depth, object and material recognition and other computational-sensing data. The company has moved beyond lab prototypes and is already shipping orders in the millions, enabled by a manufacturing partnership with integrator STMicroelectronics. Metalenz says it has module designs that can fit a wide range of form factors and has locked another buyer for its original imaging device expected to hit the market in 2023. Earlier in the year it announced PolarEyes, a polarized-light sensing product that can detect materials/textures and provide limited depth perception, positioned as a cheaper, thinner facial-recognition alternative. Metalenz is directing the new funding toward testing, scaling PolarEyes, and expanding production and customer testing. Metalenz designs meta-optic lenses and 3D sensors manufactured on semiconductor foundries, using patterned structures far smaller than a human hair. The company’s core product is a flat, meta-optic lens that can combine multiple optical functions into a single thin surface and enable brighter, higher-quality infrared and 3D imaging. Metalenz holds an exclusive worldwide license to foundational metasurface IP from Harvard’s Capasso Lab and says it has 15 issued patents and a decade of research behind the technology. The startup is fabless, focusing on design and engineering while tapping contract manufacturers to mass-produce its sensors. The new funding is intended to scale production and accelerate development of its miniature optics and lens technology for smartphones, consumer, health care, and automotive use cases. Metalenz says it is already engaged with several of the world’s largest manufacturers, from OEMs to subsystem makers, and aims to enable under-display sensors and improved battery life for devices. The company was cofounded in 2017 by Robert Devlin and Federico Capasso and is based in Boston.

Participated · Series E · Dec 2019

General Fusion develops magnetized-target fusion technology that uses deuterium-tritium fuel, a magnetic field generated by current through the fuel, and a liquid lithium wall compressed by steam-driven pistons. The company recently activated LM26, a half-scale prototype of a commercial-scale reactor, and had aimed for scientific breakeven in 2026 when commissioning the device. After laying off at least 25% of staff in May, the company publicly appealed for funding and said it is still pursuing scientific breakeven, while listing intermediary goals of heating plasmas to 10 million and 100 million degrees Celsius. The firm reported that the new cash will allow more time to run LM26 and work toward key scientific milestones. Prior to this round, General Fusion had raised $440 million in funding and was founded in 2002. Given the limited size of the fresh funding, the company appears likely to prioritize nearer-term scientific milestones to try to secure additional investment. General Fusion develops a practical Magnetized Target Fusion (MTF) approach to commercial fusion energy and is headquartered in Richmond, B.C. The company is advancing its Lawson Machine 26 (LM26) demonstration program to achieve temperatures above 100 million °C (10 keV) and a scientific breakeven equivalent. Management expects the technology to be capable of providing clean fusion energy to the grid by the early to mid-2030s. The company was founded in 2002 and is funded by an international syndicate of energy VCs, industry partners, and technology investors. Recent financing activity includes a CA$20 million investment—CA$10 million each from Canadian Nuclear Laboratories (CNL) and BDC Capital—to accelerate LM26 and commercialization work. The LM26 program has attracted over CA$71 million in public and private investment since its 2023 launch. General Fusion pursues a Magnetized Target Fusion (MTF) approach that uses a proprietary liquid‑metal liner mechanically compressed by high‑powered pistons to create short, high‑temperature fusion pulses without large superconducting magnets or laser arrays. The company is building LM26, a demonstration machine designed to reach key technical milestones and de‑risk commercialization of its technology. LM26 aims to achieve plasma temperatures over 100 million degrees Celsius by 2025 and progress toward a deuterium‑tritium breakeven equivalent by 2026; its plasmas will be approximately 50% scale of a commercial machine. General Fusion says a commercial plant design would produce roughly 230 MW from two 115 MW machines and could power about 150,000 homes. The company reports having built more than 24 plasma prototypes, filed over 170 patents, and conducted more than 200,000 experiments at its Canadian labs. It plans to commercialize zero‑carbon fusion power in the early to mid‑2030s while continuing R&D at its Richmond, B.C. headquarters. General Fusion is developing a Magnetized Target Fusion (MTF) approach centered on its newly announced Lawson Machine 26 (LM26), to be built at its Richmond headquarters. LM26 is designed to achieve fusion conditions of over 100 million degrees Celsius by 2025 and to progress toward scientific breakeven by 2026. The machine will validate the company's ability to symmetrically compress magnetized plasmas at scale by integrating its operational plasma injector (PI3) with a new lithium liner compression system. LM26 is intended as a cost-efficient, fast-moving demonstration to de-risk and accelerate General Fusion’s Demonstration Program and support plans to provide commercial fusion electricity by the early to mid-2030s. Over the next two to three years the company will work closely with the UK Atomic Energy Authority to validate LM26 data and incorporate it into the design of a planned commercial-scale demonstration in the UK. The company is led by CEO Greg Twinney and Founder and Chief Science Officer Dr. Michel Laberge. It recently raised capital and grant support to expand operations and its business reach. General Fusion pursues commercialization of Magnetized Target Fusion (MTF) to deliver practical, carbon-free power. The company is advancing a power-plant scale Fusion Demonstration Plant at the UKAEA’s Culham Centre for Fusion Energy and has expanded technology development at its Vancouver headquarters and a new facility adjacent to Oak Ridge National Laboratory. General Fusion has created a Market Development Advisory Committee composed of nine leading energy companies and clean-energy users to shape commercialization and market adoption. The company reports broad financial support from private investors and from Canadian, U.K., and U.S. government sources to accelerate near-term initiatives and milestones. General Fusion emphasizes customer-focused development and is preparing for a larger financing round in 2022 to support aggressive pursuit of its program.

Participated · Series H · Nov 2018

ChargePoint operates the world's largest electric vehicle charging network and provides a cloud subscription platform plus internally designed, software-defined charging hardware. Its portfolio includes charging solutions for home, multifamily, workplace, parking, hospitality, retail and fleets of all types. To date the network has grown to more than 114,000 places to charge and 80 million charging sessions, with drivers plugging in approximately every two seconds. ChargePoint has been working since 2007 and is headquartered in Campbell, Calif., and says it has more than a decade of category leadership. The company announced it closed $127 million in incremental equity financing. It plans to use the funds to expand its commercial and fleet portfolio in North America and Europe and to scale policy, marketing and sales efforts. ChargePoint builds hardware and software for every electric vehicle charging use case and operates a network of independently owned public and semi-public chargers. Its network now contains more than 57,000 charging spots. The company has raised more than $500 million to build out its network, including a $125 million Series G last year that funded expansion into Europe. ChargePoint is preparing for a large increase in electric vehicles over the next four years as automakers ramp EV production. The company plans to use new capital to expand its charging network in Europe and North America, broaden options for fleets, and improve the driver experience. Planned product improvements include integrations such as Amazon Alexa and Tap to Charge for phone-initiated charging. ChargePoint operates one of the world's largest electric vehicle (EV) charging networks and designs, develops, and manufactures hardware and software solutions for home, work, public and on‑road charging. The company offers products and services for passenger cars, electric buses and trucks and provides station owners remote monitoring, detailed analytics and energy-usage reporting. ChargePoint reports more than 37,800 independently owned charging spots, over 7,000 customers and drivers have completed more than 25 million charging sessions, saving roughly 25 million gallons of gasoline and driving over 603 million gas-free miles. Financially, the company recently closed a $125M Series G (including an additional $43M announced in June 2017) to support growth. ChargePoint is focused on accelerating its expansion across Europe through partnerships and deployments with customers and complementary partners. The company is headquartered in Campbell, CA. ChargePoint operates a large network of electric vehicle charging stations and provides corporate charging solutions. The company supplies public and private charging ports used by businesses and other sites. It has more than 33,000 charging ports across its stations and installations and serves about 6,500 corporate customers. ChargePoint has seen strong adoption in North America and is pursuing expansion into Europe. Its stated goal is to make EV charging as readily available and convenient as gas stations, positioning the company to scale infrastructure in new markets. ChargePoint builds and operates one of the largest electric-vehicle charging networks, deploying Level 2 chargers and Level 3 Express DC fast chargers in businesses, apartment garages and homes. Since 2007 it has installed 28,000 stations, including 310 Level 3 fast chargers. The company raised $50 million in its latest funding round led by Linse Capital and has now raised a total of $164 million from investors including BMW iVentures and Siemens. Linse Capital said the additional funds will allow ChargePoint to expand its network outside North America. The financing is intended to accelerate ChargePoint’s ability to capitalize on its North American position and replicate it in other markets around the world, per Michael Linse. ChargePoint’s mission is to ease range anxiety and support broader EV adoption as global plug-in vehicle sales have grown rapidly.

Participated · Series C · Jan 2018

Aledia is pioneering a nanowire/nanocrystal microLED technology spun out of CEA-Leti in 2012, developing LED chips for laptops, tablets, smartphones, smartwatches, augmented-reality glasses and large TVs. The company uses very large-size silicon wafers (200–300mm) and microelectronics processes rather than conventional planar 2D LEDs on smaller sapphire substrates, and its technology is protected by 197 patent families. Aledia closed an €80M first tranche of a planned €120M D-round and will use the proceeds to complete product development and build a first-of-its-kind high-volume 3D microLED manufacturing facility in the Grenoble area. The planned facility has an estimated capex of €40 million (excluding equipment), and the company expects to invest over €200 million in equipment over the next five years. Aledia plans to grow to approximately 500 employees as it scales manufacturing. Strategic partners and investors, including Intel Capital and a range of technology and investment funds, are reinvesting to support commercialization. Aledia develops and manufactures next-generation 3D LEDs based on a gallium-nitride-nanowires-on-silicon platform. Its LEDs are produced on large-diameter silicon wafers (200mm, scalable to 300mm) and designed for mobile and other display applications. The company is pursuing both large/existing displays (smartphones, laptops, tablets) and smaller, emerging displays for VR/AR/MR and smartwatches using megapixel integrated silicon chips. Aledia is working with several large industrial partners to develop next-generation displays. It intends to use recently raised funds to accelerate technology development and acquire critical equipment. The company is led by CEO, chairman and co-founder Giorgio Anania and has subsidiaries in the US, Taiwan and Malaysia. Aledia develops and manufactures next‑generation 3D LEDs using a Gallium‑Nitride‑on‑Silicon (nanowire) platform. Its LEDs are produced on large‑diameter silicon wafers (200mm/8-inch) and are designed to be significantly less expensive than traditional 2D LEDs. The technology allows integration of electronics into the LED and the company is also working on next‑generation displays. Aledia has been advancing development and customer traction, signing development and supply contracts with major LED buyers. The company highlights automotive as a key market opportunity and cites a recently completed oversubscribed financing to accelerate development. No revenue or user metrics were disclosed in the article. Aledia develops and manufactures innovative LEDs based on a 3D architecture using gallium-nitride (GaN) microwires grown on silicon. Its GaN-on-silicon microwire technology is produced on standard 8-inch (200 mm) silicon wafers using existing CMOS wafer-fabrication processes and tools. This approach enables LED chip production at a cost four times less than traditional planar (2D) LEDs. The technology was developed over six years at LETI-CEA in Grenoble, and as part of the spin-out Aledia received exclusive worldwide rights to current and future CEA patents on microwire lighting technology. The company was co-founded in 2011 by Giorgio Anania (President & CEO), Xavier Hugon (COO) and Philippe Gilet (CTO), and is based in Grenoble, France. Aledia completed its first financing, raising €10m from Sofinnova Partners, Braemar Energy Ventures, Demeter Partners and CEA Investissement; the article does not disclose operating metrics or planned use of proceeds.