Cherry Ventures and Balderton Capital led a $150m Series A round in Proxima Fusion.

Cherry Ventures, a seed fund, and Balderton Capital, an early-stage venture capital investor, led a $150m 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 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.