Thin Line Capital Closes Second Fund With $14M

Thin Line Capital Closes Second Fund With $14M

Venture capital firm Thin Line Capital has closed its second seed-stage fund. The Pasadena-based venture firm raised $14 million for Fund II, a substantial boost from the $5 million brought in almost five years ago for Fund I. The fund closed last month.

According to Thin Line’s managing partner, Aaron Fyke, previous investors doubled down on their commitment, but Thin Line also brought on new institutional investors.

Thin Line will continue to invest in pre-seed and seed business-to-business ventures in the clean energy space.

“Solar, wind and batteries, that’s not the realm of venture investing, because a lot of that risk has been driven out,” Fyke said. “Now, you want to find the companies that will do well because they’re attached to that boom in solar energy or in grid-scale storage or in electric vehicles.”

Thin Line bets on market risk for a concentrated portfolio of clean-energy ancillary companies. The company is heavily involved in a handful of companies rather than diluting risk through broad investing strategies.

Fund II will mirror Thin Line’s first seed-stage fund in both investing thesis and portfolio size, but now, with a significantly larger capital pool, can write checks as high as $500,000. 

Fyke is a known figure in the Southern California clean energy sector. He was the co-founder and chief executive of the Pasadena-based Heliogen and also served as an advisor for Westlake Village-based clean energy-storage company Energy Vault.

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