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Chrysalix Venture Capital
Chrysalix Venture Capital, founded in 1997 by Wal van Lierop, is a Vancouver-based venture firm investing in industrial decarbonization and deep-tech.
Chrysalix Venture Capital
We increase uptime in mines with advanced analytics that optimize maintenance and extend equipment life. | At Rithmik, we’re providing the world’s most advanced and reliable analytics for mobile mining equipment optimization. We’ve delivered real-time onsite results in 4 regions and commodities with a customer-validated ROI of more than US $350k/haul truck/year. We get those results because our approach is different from what anyone else is doing in our space, leveraging proprietary data processing methods, a rapid analytics infrastructure, and an AI approach tailored specifically for mobile.
General information
Firm type
Venture Capital
Year founded
1997
AUM
Undisclosed
Location
Region
North America
Country
Canada
City
Vancouver
Corporate office
Vancouver, British Columbia, Canada
Additional offices
Delft, Netherlands
Principals
Wal van Lierop
CEO and Co-Founder
Mike Antonelli
Managing Director
Steve Brown
Chief Financial Officer
Sector focus
Frequently asked questions
Who runs investment decisions at Chrysalix Venture Capital?
Investment decisions are led by CEO and Co-Founder Wal van Lierop, who has guided the firm since its inception in 1997. Managing Director Mike Antonelli oversees deal sourcing and portfolio management. The investment committee includes senior professionals with backgrounds in industrial technology and venture capital.
What investment stages does Chrysalix typically target?
Chrysalix invests across the lifecycle from seed to growth stage, typically leading or co-leading Series A and B rounds in industrial technology companies. The firm has also participated in later-stage rounds for portfolio companies scaling commercial deployments. Its mandate spans pre-commercial technology through to revenue-stage enterprises.
Does Chrysalix make fund commitments or only direct deals?
Chrysalix operates primarily as a direct venture capital investor, pooling capital from institutional limited partners. The firm does not typically act as a fund-of-funds. It has also structured corporate venture capital advisory engagements for industrial partners seeking strategic investments.
How does Chrysalix source proprietary deal flow?
The firm sources deal flow through a network of university research partnerships, corporate relationships, and industry conferences focused on industrial innovation. Its early presence in the cleantech sector provides access to entrepreneurs and technologies that may not pursue broad venture fundraising. The European office in Delft adds connectivity to technology clusters in the Netherlands and adjacent regions.
Which sectors does Chrysalix explicitly avoid?
Chrysalix does not invest in consumer internet, software-as-a-service, healthcare, or financial technology. The firm's mandate is explicitly focused on industrial deep tech — hard-science ventures in energy, materials, water, and advanced manufacturing. It avoids sectors where the competitive dynamic favors rapid consumer adoption rather than capital-intensive industrial deployment.
Is Chrysalix structured as a family office or a traditional venture firm?
Chrysalix operates as an institutional venture capital firm raising capital from limited partners, not as a family office or single-family vehicle. Its early institutional backer was BC Investment Management Corporation. The firm's funds are structured as closed-end venture partnerships with multiple institutional investors.
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