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Pacific FusionPulsed magnetic + inertial confinement fusion. Largest fusion Series A in history at $900M (Oct 2024)
Series A
$900M
Largest fusion Series A in history; entered the field at top-tier capital base immediately
Approach
Pulsed magnetic + ICF hybrid
Sandia Z-Machine lineage; 156 individual pulsed-power modules feeding a central target chamber
Funding per Employee
~$11M+
One of highest in deep tech; pre-machine company with national-lab caliber talent
Net Energy Target
~2030
10-year roadmap to demonstration-facility net gain; reported several months ahead of schedule (Apr 2025)
Total raised: $900M · Latest valuation: Undisclosed (Series A milestone-tranched)
| Round | Date | Amount | Valuation | Key Investors |
|---|---|---|---|---|
| Series A | Oct 2024 | $900M (milestone-based tranches) | - | General Catalyst (Hemant Taneja, lead)Founders FundBreakthrough Energy VenturesEric Schmidt+6 more |
| System | Type | Status |
|---|---|---|
| Demonstration System (DS) | Pulsed magnetic + inertial confinement hybrid (156 pulsed-power modules) | Design / early build |
| Marx Generator Modules | Impedance-matched pulsed-power architecture (Sandia Z-Machine lineage) | Prototype phase |
| Commercial Pilot Plant | Long-term roadmap target | Conceptual (10-year horizon) |
Vinod Khosla personally championed the Series A; led the $900M round.
Co-led Series A; deep-tech / sovereign-tech thesis.
Cross-section of Silicon Valley deep-tech capital.
UAE sovereign-fund participant in Series A.
Core team drawn from US national-lab pulsed-power and ICF programs.
Eric Lander (former White House OSTP director), Will Regan, Carrie von Muench, Keith LeChien (ex-Sandia / Lawrence Livermore) form Pacific Fusion in stealth
$900M Series A announced; one of the largest stealth-mode raises in any sector
Architecture: 156 individual pulsed-power modules feeding a central target chamber; impedance-matched Marx generator topology
Net energy gain target; pulsed inertial-confinement architecture with magnetic compression
Pulsed magnetic plus inertial confinement hybrid fusion startup. Raised a $900M Series A in October 2024 led by Khosla Ventures, General Catalyst, Founders Fund, and Eric Schmidt. 10-year roadmap to commercial; first ignition target around 2030. Pacific Fusion was founded in 2023, is headquartered in Fremont, CA and employs ~80.
Pacific Fusion has raised $900M in total at a Undisclosed (Series A milestone-tranched) valuation, based on the funding rounds Sterling tracks.
Sterling groups Pacific Fusion in the Nuclear sector, alongside Commonwealth Fusion Systems (private), Helion Energy (private), TAE Technologies (private), Tokamak Energy (private) and General Fusion (private).
If you are researching Pacific Fusion, also look at Commonwealth Fusion Systems (private), Helion Energy (private) and TAE Technologies (private). You can browse the full Nuclear sector on Sterling.
