Chrysalix Venture Capital, one of the most active industrial innovation venture capital firms, announces the first close for its new fund, the Chrysalix RoboValley Fund. The fund will invest in early-stage companies across the globe that are developing technologies in intelligent systems and resource productivity solutions for industries such as energy, mining, mobility, chemicals and materials.
Investors in the Fund include Fortune 500 companies, leading corporates, financial institutions, family offices and universities such as Teck Resources Limited, Mistletoe Venture Partners International, PETRONAS, Severstal, Delft University of Technology, Mitsubishi Corporation, Golden Properties and an undisclosed mobility corporate.
“We are pleased to welcome several leading international investors to the Chrysalix RoboValley Fund,” said Richard MacKellar, Managing Partner at Chrysalix Venture Capital. “Working closely with our Limited Partners, the Fund will connect leading industrial companies with outstanding entrepreneurs, linking market driven problems to innovative solutions while creating outsized financial returns and environmental sustainability.”
“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. “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 strong industry clusters forming, particularly around oil and gas, mining and metals, utilities and electric power, chemicals and advanced materials, and manufacturing. The fund will invest in innovations that will drive the energy transition and can be enhanced by the application of intelligent systems such as: AI, data analytics, sensors & components, IoT, robotic systems and blockchain.
With this first close, the Chrysalix RoboValley Fund is well on its way to raising its target size of $120 million USD and is supported by Chrysalix’s expanded presence in Europe – the company has opened an office in RoboValley – as well as the firm’s academic network and vibrant start-up ecosystems. This is Chrysalix’s second fund focused on industrial innovation for resource intensive industries.
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