Palo Alto, California – Eclipse, a venture capital firm specializing in startups within real-world industries such as manufacturing, has announced the appointment of Joe Fath as a new partner and head of growth. Fath, a long-serving investor at T. Rowe Price Group Inc., brings over two decades of experience to the firm, with a notable track record in scaling significant investment funds and identifying high-growth companies.
The appointment was highlighted by a Bloomberg tweet, stating, "Eclipse, a venture capital firm focused on startups in real-world industries like manufacturing, has hired longtime T. Rowe Price Group Inc. investor Joe Fath as partner and head of growth." Fath is widely recognized for his successful early investments in electric vehicle innovators like Tesla and Rivian.
Fath spent more than 20 years at T. Rowe Price, initially joining in 2002 as a research analyst covering sectors including airlines and shipping. He later managed the firm’s US Growth Stock Fund, which he grew from $57 billion to over $150 billion in assets under management. This extensive experience in managing large-scale growth funds aligns with Eclipse's strategic focus on scaling companies in physical industries.
Eclipse, founded in 2015, has a mission to power the "Industrial Evolution" by partnering with entrepreneurs who are redefining physical industries through hardware, software, and data. The firm emphasizes a "high conviction, high ownership, and high involvement" investment style, often leading the first institutional rounds for its portfolio companies. Its portfolio includes 85 companies, with 7 achieving unicorn status, reflecting a strong track record in identifying and nurturing innovative ventures.
Fath's expertise in identifying durable growth and guiding companies towards sustainable public market presence will be crucial for Eclipse's portfolio. His previous work with Rivian executives Charly Mwangi and Jiten Behl, both now partners at Eclipse, underscores a pre-existing synergy and shared vision for the future of industrial innovation. This strategic hire is expected to bolster Eclipse's capacity to support its companies through critical growth phases and navigate the complexities of scaling in physical industry sectors.