Silicon Valley is obsessed with AI, but its quiet movements are taking shape. Latest sign? A new venture capital firm called CIV has raised $200 million to back-tech startups in manufacturing, energy and infrastructure.
According to Bloomberg, Civ’s debut fund will focus on early stage businesses addressing key national priorities. Behind the company are Abijoy Mitra, Jeff Rosenthal and Patrick Maloney. The fund, announced on April 23rd, is part of a bigger change.
“A new venture capital firm called Civ has raised the first $200 million fund to invest in startups working on projects like nuclear energy and manufacturing. They took part in the broader movement of Silicon Valley to maintain their national impact in favour of companies in the physical world,” Bloomberg reported.
Beyond AI: New $200m VC funds have big bets on manufacturing, energy and infrastructure
Mitra was previously a general partner at Coatue Management. Rosenthal co-created the Summit series, a community that connects top innovators. Maloney, the current CEO, sold his former company, Inspire Energy Capital, to Shell. Together, they are building a company that is not interested in short-term hype. The roster of investors includes celebrities such as SpaceX COO Gwynne Shotwell and Union Square Ventures co-founder Fred Wilson.
“We’re not just chasing after the next app,” Maloney said. “We want to fund companies that reshape the way the world works.
Why now? Manufacturing and energy have a blink of mind. Clean energy, especially nuclear, is gaining more attention as it seeks stable alternatives to fossil fuels. Startups such as Terrapower and Nuscale Power are promoting modular reactor technology. On the manufacturing front, automation and reworking are making headlines thanks to federal incentives like the CHIPS Act and the Inflation Reduction Act.
Venture capital continues to gain momentum. In 2024 alone, US clean energy startups drew $15.6 billion. CIV is positioned to grab some of the investments, which are likely to range from $5 million to $15 million per startup.
The timing of the fund is not random. Since the pandemic, cracks in supply chains and energy systems have become impossible to ignore. Investors are beginning to support startups that can solve these big problems. CIV joins other companies such as Eclipse Ventures and Energy Impact Partners to lead capital to what is called “hard technology.”
That said, this approach is not for the sake of impatience. Hard technology takes time. Nuclear startups are not going to scale overnight. Regulation red tape, global competition, and capital-intensive operations mean high risk. But if it works, the payoff is just as big.
Fred Wilson said: “The team experience and network give them an edge in dilution of complex transactions.”
Civ’s $200 million funding may not be the biggest, but it gives the company plenty of room for an agile stay. According to TechCrunch sources, they plan to invest in 15-20 companies, focusing on sectors like next-generation batteries, carbon capture and industrial automation.
With the support of big names and a clear focus, Civ is betting that the next great startup will not live on your phone. They live in factories, power plants and infrastructure.
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