Chrysalix Venture Capital has held a second close for Chrysalix RoboValley Fund. Vancouver based Chrysalix Venture Capital did not disclose how it raised this close and total raise to date.
Chrysalix RoboValley US parallel fund raised US $29.2 million according to its filings.
In second close, Chrysalix welcomes new investors Caterpillar Inc., J-POWER, South32, and an undisclosed mining equipment company to the fund. They join existing investors in the fund including PETRONAS, Severstal, Delft University of Technology, Mitsubishi Corporation, Golden Properties, Hyundai Motor Company, and others.
Chrysalix RoboValley Fund invests in early-stage companies across the globe that are developing technologies in intelligent systems, resource productivity and environmental solutions for industries such as energy, mining, mobility, construction, chemicals and materials, and manufacturing.
The fund is managed by GPs, Wal van Lierop, Richard Mackellar, Fred van Beuningen, and Charles Haythornthwaite.
photo credit: Chrysalix Venture Capital
Chrysalix Venture Capital Announces Second Close for Global Fund Focused on Intelligent Systems for Resource Intensive Industries
The Chrysalix RoboValley Fund invests in Industry 4.0 applications that improve industrial processes, resource efficiency and environmental sustainability
December 05, 2019 08:00 ET | Source: Chrysalix Venture Capital
Vancouver, Canada and Delft, Netherlands, Dec. 05, 2019 (GLOBE NEWSWIRE) — Chrysalix Venture Capital, a global technology venture capital firm that specializes in transformational industrial innovation, announces the second close of its Chrysalix RoboValley Fund. The fund invests in early-stage companies across the globe that are developing technologies in intelligent systems, resource productivity and environmental solutions for industries such as energy, mining, mobility, construction, chemicals and materials, and manufacturing.
The growing list of investors in the fund includes Fortune 500 companies, leading corporates, financial institutions, family offices, and universities. With this second close, Chrysalix welcomes new investors Caterpillar Inc., J-POWER, South32, and an undisclosed mining equipment company to the fund. They join existing investors in the fund including PETRONAS, Severstal, Delft University of Technology, Mitsubishi Corporation, Golden Properties, Hyundai Motor Company, and others.
“We are delighted to attract such strong corporate investors who are leaders in their respective industries to the Chrysalix RoboValley Fund,” said Richard MacKellar, Managing Partner at Chrysalix Venture Capital in Vancouver, Canada. “Working closely with our strategic investors, we are looking forward to identifying transformational solutions and building a portfolio of great technology companies.”
“Many of today’s industries face challenges that demand innovative solutions that can simultaneously lower costs while increasing productivity and sustainability,” said Fred van Beuningen, Managing Partner at Chrysalix Venture Capital in Delft, Netherlands. “Machine intelligence enabled by AI leads us into the Fourth Industrial Revolution characterised by cyber physical systems. Sensor driven connectivity, IoT and virtualisation have an immense impact on what we produce and buy, but also on how these products and services are designed and the nature of work itself. Building on Chrysalix’s legacy of working with resource intensive industries, intelligent systems provide an opportunity for step-change innovation.”
The Chrysalix RoboValley Fund has established strong industry clusters, particularly around mining and metals, oil and gas, and engineering and construction. The fund invests in innovations that drive the energy transition and decarbonization, and can be enhanced by the application of intelligent systems such as AI, data analytics, sensors & components, IoT, robotic systems and blockchain. The fund’s first investments were made earlier this year in Feasible Inc., developers of a breakthrough battery intelligence platform; Applied Impact Robotics, winner of our first Incentive Challenge in partnership with PETRONAS; and Envisioning Labs, developers of a smart mining solution for comminution.
With this second close, the Chrysalix RoboValley Fund is nearing its target size of $120 million USD and is supported by Chrysalix’s expanding presence in Europe, as well as the firm’s unique academic network and vibrant start-up ecosystems. This is Chrysalix’s second fund focused on intelligent systems and industrial innovation for resource intensive industries.
About Chrysalix Venture Capital
Chrysalix is a technology focused venture capital firm that builds, mentors and connects high growth companies. Founded in Vancouver, Canada in 2001, and with offices in Delft, Netherlands, Chrysalix has built its reputation on bringing disruptive innovation to the world’s largest industries by focusing on where technology meets physical science. The firm’s investments include breakthrough technologies like smart mining, 3D printing of steel, fast charging electric vehicle infrastructure, emissions-free solar steam, battery intelligence, C02 capture, wastewater management, and fusion energy. Chrysalix has one of the strongest investment teams in the industry with deep energy, technology, and entrepreneurial expertise, and is backed by more than 20 international blue chip industrial and financial investors. The Chrysalix RoboValley Fund is the firm’s second fund under management focused on industrial innovation. For more information visit: www.chrysalix.com.
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