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action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home4/scienrds/scienceandnerds/wp-includes/functions.php on line 6114Source:https:\/\/techcrunch.com\/2023\/04\/10\/eclipse-eclipses-previous-fundraises-with-a-whopping-1-23-billion-across-two-new-funds\/<\/a><\/br> The market may be be tightening, but not for Eclipse<\/a>, a Palo Alto-based venture firm that just raised $1.2 billion across two new funds. One fund, with $720 million in capital commitments, will be invested in early-stage outfits, as well as startups that Eclipse itself incubates. The remaining $510 million will be funneled into growth-stage companies, including outfits that have never before raised outside capital but that also fit into Eclipse\u2019s broader themes. The vehicles bring the firm\u2019s capital under management to $4 billion.<\/p>\n That\u2019s a lot for a venture firm that was founded just eight years ago, but apparently, Eclipse\u2019s ongoing pitch \u2014 that legacy industries need to modernize how they operate in order stay competitive \u2014 is resonating with its investors.<\/p>\n As firm founder Lior Susan explains it, \u201cThe thing that I always talk about is automation in general because there is just so much opportunity. So you know, 45% of the world\u2019s GDP is blue-collar wages. But there are not enough truck drivers or warehouse workers or agricultural workers or construction workers in the world, and we\u2019ll see even fewer as more people retire. All will be replaced by automation, and we intend to build a lot of those companies in those markets.\u201d<\/p>\n There are many ways to pull traditional industries into the 21st century, judging by Eclipse\u2019s wide-ranging portfolio. One of its biggest bets, for example, is on Bright Machines, a still-private company that looks to ensure that all the different components in a factory are connected to a central control system that can monitor and manage their operations in real time. Eclipse also backed Enovix, a company that went public through a special purpose acquisition company last year and is producing lithium-ion batteries for small devices like smart watches, as well as 3D cell technology and batteries for electric vehicles. Eclipse was also an early investor in Lucira, a company focused on developing and commercializing infectious disease test kits. (It staged a traditional IPO in early 2021 when COVID was still rampant.)<\/p>\n To find out a bit more about how Eclipse is looking at the world right now \u2014 and how all that fresh capital might be deployed \u2014 we hopped on the phone this morning with Susan, who spent eight years in the Israel Defense Forces before selling a company<\/a> he helped his brother<\/a> build, then deciding to launch his own venture firm. Our chat has been edited for length and clarity.<\/p>\n TC: You just announced two funds, one of which is a growth fund. Why not just raise a bigger flagship fund?<\/strong><\/p>\n LS: We think there is a massive opportunity for Eclipse at the early growth stage, and not just at the early stage. Our first bet<\/a> from this new fund, for example, is Watchmaker Genomics<\/a>, a company that will accelerate pharma manufacturing using enzymes and automation. Justin, one of our partners, knew the team for a couple of years; they\u2019d bootstrapped the business to advanced revenue and traction after selling their previous company to Roche for $1.2 billion, and we kind of elbowed our way in because they wanted someone to help them accelerate their manufacturing. We invested alongside Decheng Capital, which is an expert in the world of biotech.<\/p>\n Are you really interested in healthcare or are you more focused on startups that improve back-end processes, no matter the industry or vertical?<\/strong><\/p>\n We have a whole healthcare infrastructure thesis around investing in picks and shovels on the manufacturing side and in terms of logistics and the supply chain. We have amazing companies, including Rune Labs, Nucleus and a few others that are building picks and shovels and automation for the worlds of pharma.<\/p>\n Nucleus [RadioPharma] is a company that you co-created<\/a> with the Mayo Clinic. Eclipse has incubated other companies, too. Is this strategy changing as the market softens and opportunities become available elsewhere?<\/strong><\/p>\n Not at all. Our model is impacted by the size of the opportunity, and $75 trillion out of the world\u2019s $100 trillion GDP is going to undergo a digital transformation. I\u2019ve been saying that for eight years, and I think everyone now agrees with us \u2014 the government, other investors, the public markets. Everyone wants to be Elon Musk. Everyone wants to build cars and rockets and to solve tough problems. So our incubation strategy has been driven by the size of the opportunity more than anything else.<\/p>\n
\nEclipse eclipses previous fundraises with a whopping $1.23 billion across two new funds<\/br>
\n2023-04-11 22:25:05<\/br><\/p>\n