Building companies in the physical world requires an "operators with capital" approach that prioritizes hands-on expertise over passive investment. Physical industries like manufacturing, energy, and defense represent 85% of global GDP, yet they remain historically underserved by traditional venture capital. Eclipse, led by Lior Susan, operates by vertically integrating portfolio companies to solve complex infrastructure problems, such as data center construction and energy storage. This model rejects standard software-as-a-service metrics in favor of fundamental free cash flow and operational discipline. Susan’s background as a banana farmer instilled a commitment to physical building, which he now applies alongside the institutional knowledge gained from his mentor, Pierre. By creating an "Eclipse economy" where portfolio companies support one another, the firm addresses critical supply chain and technological gaps, proving that high-stakes, capital-intensive ventures can generate superior long-term value.
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