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Cerebras backer US VC Eclipse raises $1.3b for AI
US-based venture firm Eclipse has raised US$1.3 billion in new funds to back startups in AI infrastructure and other physical industries.
The capital includes US$720 million for early-stage deals and US$591 million for later-stage investments.
Founded in 2015, Eclipse has backed Cerebras Systems and Wayve, as well as Redwood Materials and VulcanForms.
The raise is Eclipse’s largest yet and tops the US$1.23 billion it raised in 2023.
🔗 Source: Bloomberg
🧠 Food for thought
Implications, context, and why it matters.
Eclipse’s strategy spans AI infrastructure and physical industries
- Eclipse invests in a wide mix of companies tied to the physical economy.
- The firm funds AI building blocks, including chipmaker Cerebras Systems, plus autonomous driving work at Wayve, a self-driving startup.
- It also supports advanced manufacturing through VulcanForms, a metal 3D-printing company, along with circular economy work at Redwood Materials, a battery recycling and materials company.
Conservative capital is now backing industrial tech-focused venture funds
- Eclipse raised US$1.3 billion in new funds after US$1.23 billion in 2023, which suggests steady backing for its “hard tech” focus. The totals alone do not prove demand is rising.
- Limited partners, the outside investors in venture funds, include university endowments, foundations, and hospital systems. Their participation may mean more institutions feel comfortable with industrial technology-focused venture investing.
- Even so, this style of investing has not yet become a mainstream asset class.
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