Corporate-backed clean-tech venture investor Chrysalix Set is turning to outside investors to raise its second fund and is looking to raise €100m($130m).
Chrysalix Set, formerly Set Venture Partners until January this year, has embarked on the fundraising trail, and it has already secured an initial close from its backers, Netherlands-based utilities, Delta and Essent, at an undisclosed sum, according to Rene Savelsberg, chief executive of Chrysalix Set.
Savelsberg said: “We have had an initial closing from current limited partners. This arrangement allows us to continue to stay active in market.” He added the company’s backing of the funding round of building energy efficiency company Sefaira as part of a $10.8m round last week was the first investment from the second fund.
The firm has also restructured recently making its management financially independent going forward from venture firm Chrysalix and Netherlands-based asset manager Robeco, Savelsberg said. The management company is owned by Savelsberg and Wouter Junk, he added.
Savelsberg said: “We have cleaned up our legal structure.” He added Robeco and Chrysalix continue be part of the GP for Set fund one, which raised €50m in 2007.
He said the name change to Chrysalix Set meant: “With Chrysalix we have made branding stronger between the two management companies. We are independent management companies, but we share branding to get more exposure to different markets and share knowledge. The branding side is more clear than it used be.”