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Chrysalix Venture Capital is a venture capital and private investment firm founded in 2001 by Wal van Lierop in Vancouver, Canada. Over its 20+ years of operation, Chrysalix has established itself as a leading player in the cleantech and industrial innovation sectors. The firm focuses on early-stage technologies that support resource-intensive industries in achieving efficiency, differentiation, and sustainability targets.
As of now, Chrysalix manages approximately $120 million in assets under management (AUM) and has made over 131 investments throughout its history. The firm operates primarily in North America and Europe, targeting sectors such as energy and industrial innovation. Chrysalix has launched several funds, including the Carbon Neutrality Fund and the RoboValley Fund, which emphasize industrial innovation and robotics.
Chrysalix's reputation is well-regarded within the cleantech venture capital community, frequently receiving coverage in media focused on industrial sustainability and climate investment. The firm has achieved notable milestones, including recognition for several portfolio companies in the 2024 Global Cleantech 100.
Chrysalix Venture Capital invests in technologies that promote sustainability and resource efficiency, particularly within the energy and industrial sectors. The firm targets early-stage opportunities, focusing on Seed to Series B investments with check sizes ranging from $2 million to $15 million, with a sweet spot around $3 million. Their investment strategy emphasizes de-risking and scaling carbon-neutral solutions, aiming to support hard-to-abate industries in reaching carbon neutrality.
The firm’s investment thesis centers on industrial innovation at the intersection of technology and physical science. Key areas of interest include CO2 capture, smart mining, and sustainability in heavy industry. Chrysalix seeks to partner with visionary founders who are developing market-led solutions that can significantly impact resource-intensive industries.
Chrysalix's geographic focus spans North America and Europe, allowing them to tap into diverse markets and technologies. The firm is particularly interested in advancements in cleantech, energy transition, smart mining, and industrial efficiency, which are critical for achieving sustainability goals.
Chrysalix Venture Capital has a diverse portfolio of 131 companies, with notable investments in the cleantech and industrial sectors. Key portfolio companies include:
All four of the highlighted companies—Svante, Minesense, Sortera, and Liminal—were recognized in the 2024 Global Cleantech 100, underscoring Chrysalix's commitment to supporting impactful innovations.
Wal van Lierop — Founder and long-time CEO/President; transitioned to a part-time role effective January 1, 2025. He has been instrumental in establishing Chrysalix as a leader in cleantech VC.
Richard MacKellar — Managing Partner; brings extensive experience in venture capital and industrial innovation, focusing on strategic investments in early-stage companies.
Fred van Beuningen — Managing Partner; known for his expertise in sustainability and resource efficiency, he plays a key role in guiding portfolio companies.
Greg Allen — Partner; has a background in technology commercialization and supports startups in achieving market fit.
Charles Haythornthwaite, Ph.D. — Senior Partner; specializes in industrial innovation and provides technical insights to portfolio companies.
Alfred Lam, Ph.D. — Partner; focuses on investments in advanced materials and sustainability technologies.
Alicia Lenis — Vice President; involved in deal sourcing and portfolio management, contributing to the firm's strategic direction.
Wendy Leong — CFO; oversees financial operations and fund management, ensuring compliance and reporting standards.
Tracy Gundy — Research & Program Administrator; supports research initiatives and program development within the firm.
Horry Li — Senior Accountant; manages financial reporting and accounting functions for the firm.
To pitch to Chrysalix Venture Capital, founders should visit the firm's [pitch page](https://www.chrysalix.com/pitch). It is essential to include a comprehensive deck that outlines the business model, market opportunity, and how the technology addresses sustainability challenges. Chrysalix prefers clear and concise presentations that highlight the startup's unique value proposition.
Response times can vary, but founders should expect a thorough review process given the firm's focus on strategic investments. Warm introductions are beneficial, as they can facilitate initial discussions and increase the likelihood of engagement.
In December 2024, Chrysalix Venture Capital made an investment in Deadwood Innovations, a company focused on upgrading low-grade lumber into high-strength, sustainable products. This investment aligns with the firm's commitment to supporting innovative solutions in the cleantech sector.
In January 2025, Wal van Lierop transitioned to a part-time role, allowing Richard MacKellar and Fred van Beuningen to lead the firm going forward. This leadership change marks a new chapter for Chrysalix as it continues to focus on industrial innovation.
In 2024, four of Chrysalix's portfolio companies—Svante, Minesense, Sortera, and Liminal—were recognized in the Global Cleantech 100, highlighting the firm's successful investments in impactful technologies.
What are Chrysalix's investment criteria?
Chrysalix focuses on early-stage technologies in the energy and industrial sectors, particularly those that promote sustainability and resource efficiency. They typically invest in Seed to Series B stages with check sizes ranging from $2 million to $15 million.
How can I pitch to Chrysalix?
Founders can pitch their startups through the firm's [pitch page](https://www.chrysalix.com/pitch). It is advisable to include a clear business model, market analysis, and details on how the technology addresses sustainability challenges.
What makes Chrysalix different from other VC firms?
Chrysalix has a strong focus on industrial innovation and sustainability, with over 20 years of experience in cleantech investments. Their extensive network and expertise in resource-intensive industries allow them to provide valuable support to portfolio companies.
What is Chrysalix's geographic scope?
The firm primarily invests in North America and Europe, allowing them to tap into diverse markets and technologies relevant to their investment thesis.
What is the typical post-investment involvement of Chrysalix?
Chrysalix provides strategic support to its portfolio companies to reduce commercialization timelines and achieve market fit. This includes mentorship and access to their extensive network in the cleantech sector.
What is the size of Chrysalix's current fund?
The current fund, known as the Carbon Neutrality Fund, has a size of $120 million, focusing on investments in sustainable technologies.
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