Lee Fixel
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Base Power's $200M Series B | Co-Led by Lee Fixel, A16Z, Lightspeed, & Valor Equity Partners
Lee Fixel, Zach Dell, Justin Lopas, Antonio Gracias, Molly
Base Power, founded in 2023 by Zach and Justin, closed a $200 million Series B round led by Addition with new participation from Andreessen Horowitz and Lightspeed Ventures to accelerate its "violent execution" culture and vertical integration strategy. Leveraging an isolated grid launch in Texas and a proprietary utility model that reduces deployment timelines to 2–4 weeks, the company has installed over 1,000 batteries while securing partnerships with builders like Lennar and utilities such as Bandera. Backed by a talent pool drawn from SpaceX and Tesla, Base Power now aims to scale operations to 50–100 daily installations and expand across all 50 states to address surging electricity demand from AI data centers and electrification.
Vince Hankes: Why We Put $300M into OpenAI; Sam Altman's Pitch; Lessons from Josh Kushner | E1009
Vince Hankes, Sam Altman, Josh Kushner, Lee Fixel, Harry Stebbings
Thrive Capital partner Vince Leverett details the firm's transition from Tiger Global's financial rigor to a founder-empathy model that prioritizes product-market fit and transparent partnership dynamics. Leverett contrasts this approach with past missteps like the missed Canva investment, emphasizing that future success in the competitive AI landscape requires evaluating qualitative strengths over rigid pattern matching. He argues that while infrastructure plays a critical role, the majority of value will accrue to application-layer startups capable of creating entirely new user experiences outside incumbent control.