Canada-based venture capital firm Chrysalix Venture Capital has reached a second close for its latest fund, which features corporates Caterpillar, J-Power and South32 among its limited partners.
Chrysalix concentrates on developers of smart technology for physical industries. Its latest fund, RoboValley Fund, will invest in smart and sustainable technology in industries like energy, mining, construction, manufacturing, chemicals and materials, and has a targeted close of $120m.
Construction machinery operator Caterpillar, energy utility J-Power and mining company South32 joined existing LPs including fellow corporates Mitsubishi Corporation, Severstal, Teck Resources and Petronas, all of which backed the fund’s first close in October 2018.
The firm revealed this week that real estate developer Golden Properties, automotive manufacturer Hyundai Motor Company and Delft University of Technology are also LPs for RoboValley Fund.
RoboValley has so far invested in battery analysis technology developer Feasible, smart-mining system developer Envisioning Labs and tank-inspection Applied Impact Robotics, which won a contest held by Chrysalix in partnership with oil and gas supplier Petronas.
