Participated · Series A · Jul 2026

Proxima Fusion is Europe’s leading stellarator company and the first spin-out from the Max Planck Institute for Plasma Physics, developing commercial fusion power plants using the QI-HTS stellarator concept. The company is building Alpha, a net-energy stellarator demonstrator targeted for the early 2030s, and plans a follow-on commercial plant called Stellaris later in the decade. Proxima leads the Alpha project in partnership with the state of Bavaria, the Max Planck Institute for Plasma Physics and industrial partners including RWE, supported by an Alpha Alliance of more than 50 companies. Headquartered in Munich with offices in Zurich and Oxford, Proxima employs around 200 people across engineering, science and operations. Financially, Proxima has secured more than €650 million in funding to date, including about €95 million in public grants, and plans to expand engineering, manufacturing and magnet production capabilities as it advances toward demonstrator completion.

Participated · Equity · Mar 2026

Normal Computing develops Normal EDA, an AI platform that applies frontier techniques (including auto-formalization combining LLMs with formal logic) to accelerate semiconductor design and automate DV/RTL workflows. In parallel it advances the Carnot hardware program to produce physics-based ASICs aimed at dramatically improving energy efficiency; the company completed tape-out of CN101 in August 2025. Normal says it partners with more than half of the top ten semiconductor companies by revenue and has earned trust to drive production silicon. The company has raised over $85 million to date, including a $50 million strategic round led by Samsung Catalyst Fund in March 2026. Normal was founded in 2022 and is headquartered in New York, with offices in San Francisco, London, and Copenhagen, and receives programmatic support from ARIA for some of its work.

Led · Series B · Nov 2025

Berachain is building a layer-one blockchain whose core innovation, dubbed “Proof of Liquidity,” compensates participants that generate real economic activity within its ecosystem. The network’s native BERA token functions as the fee and reward currency, and the project intends for BERA to accrue revenue derived from applications deployed on the chain. The team is launching an initiative called “BeraStrategy” to position BERA as the primary treasury asset supporting future development and liquidity. A newly appointed Chief Investment Officer, Ben Isenberg, will oversee this treasury program. Financially, the company has just secured a large capital infusion (split between cash and tokens) to seed its treasury, signaling strong institutional interest. Although specific revenue, user, or adoption metrics were not disclosed, the scale and investor profile of the raise highlight expectations for meaningful future growth.

Participated · Equity · Nov 2025

Ripple offers blockchain-based enterprise solutions spanning global payments, custody, liquidity, and treasury management. It operates a multi-asset prime brokerage platform called Ripple Prime that provides financing and other services to institutional clients in traditional and digital markets. Founded in 2012 and based in San Francisco, Ripple positions itself as a one-stop shop for moving, storing, exchanging, and managing value. The company has secured a $200M debt facility from funds managed by Neuberger Specialty Finance to support growth of Ripple Prime and extend client financing. The financing is intended to increase Ripple's capacity and enhance its ability to serve new and existing institutional relationships. The deal reflects Ripple's focus on expanding institutional-facing products and access to capital.

Participated · Series A · Sep 2025

Nanofiber Quantum Technologies (NanoQT) is a quantum-hardware company focused on building nanofiber cavity-QED interconnects that seamlessly integrate with neutral-atom quantum processing units (QPUs). These ultra-low-loss interconnects are designed to enable scalable, modular, and networked quantum computers while remaining compatible with quantum communication infrastructure. The firm is headquartered in Palo Alto, California, and operates engineering and manufacturing sites in College Park, Maryland, and Tokyo, Japan. To date, NanoQT has benefited from more than US$20 million in government R&D grants across Japan and the United States, supporting its technical roadmap. With the new capital, the company plans to demonstrate a distributed quantum computing system that links QPUs over standard fiber, productize its interconnect technology, and scale its engineering and manufacturing capacity. Management is led by CEO and co-founder Masashi Hirose, Ph.D., who is steering a global commercialization strategy that leverages both U.S. and Japanese ecosystems.