VC firm Eclipse announced a $1.3 billion raise on April 7 split between a $591 million early-stage incubation fund and a larger growth fund, targeting startups that combine AI with physical-world applications in transportation, energy, manufacturing, and defense. Unlike conventional funds, Eclipse plans to internally incubate companies — not just write checks — and structure portfolio companies to partner with each other from day one. Prior Eclipse-backed companies include Cerebras, Redwood Materials, arc boat, Bedrock Robotics, and Wayve.