Cherry Ventures and Balderton Capital led a $200m Series A round in Proxima Fusion.

Cherry Ventures, a seed fund, and Balderton Capital, an early-stage venture capital investor, led a $200m Series A round in Proxima Fusion, a European fusion energy company, with participation from UVC Partners, DeepTech & Climate Fonds (DTCF), Plural, Leitmotif, Lightspeed, Bayern Kapital, HTGF, Club degli Investitori, Omnes Capital, Elaia Partners, Visionaries Tomorrow, Wilbe, CDP Venture Capital and redalpine. “We back founders solving humanity’s hardest problems - and few are bigger than clean, limitless energy. Proxima Fusion combines Europe’s scientific edge with commercial ambition, turning world-class research into one of the most promising fusion ventures globally. This is deep tech at its best, and a bold signal that Europe can lead on the world stage,” Filip Dames, Cherry Ventures Founding Partner.