Chrysalix Venture Capital Announces Second Close For Global Fund Focused On Intelligent Systems For Resource Intensive Industries
Dec 5, 2019
The Chrysalix RoboValley Fund invests in Industry 4.0 applications that improve industrial processes, resource efficiency and environmental sustainability
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, 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.