"We are pleased to welcome LyondellBasell and other leading international investors to the Carbon Neutrality Fund," said Fred van Beuningen, Managing Partner at Chrysalix Venture Capital. "Chrysalix Venture Capital has an established track record of investing in new climate technologies and a strong focus on developing innovative solutions for hard-to-abate sectors, including chemicals." "Sustainability is integrated into our business strategy, and we are confident the Carbon Neutrality Fund will help us advance our industry-leading climate goals, as we create value, and develop products and solutions that contribute to a better tomorrow," said Jim Seward, executive vice president and chief innovation officer at LyondellBasell.
These investments expand LyondellBasell's venture capital activities to help advance its ambitious sustainability goals. The fund will support emerging companies developing and deploying new low-carbon technologies, focusing on hard-to-abate sectors, such as the chemicals industry. As a result, more than 80% of the companies that have worked with RevRoad remain in business, many of which are thriving today.ROTTERDAM, Netherlands, J/PRNewswire/ - LyondellBasell LYB today announced its investment in a new Carbon Neutrality Fund led by Chrysalix Venture Capital. This ensures that entrepreneurs receive valuable mentorship from individuals who have experienced the challenges of growing startups. As a result, we've gotten more value from our partnership with RevRoad than we would have if we had simply raised cash."Ī key factor contributing to RevRoad's success lies in the strategic pairing of portfolio companies with experienced professionals from various business disciplines. Instead, our common shareholders were teams of dedicated specialists who were committed to understanding every aspect of our company. We worked directly alongside RevRoad's service teams to focus our attention on growing the business, time we would have otherwise had to spend fundraising. "RevRoad's services model was a great alternative to capital at that stage of our business-the idea of having services on demand for two years was a game changer.
"At the time we applied to RevRoad, raising additional capital would have been extremely difficult and time-consuming," said AJ Brau, founder of portfolio company Wander. By partnering with RevRoad, portfolio companies are able to raise their valuation and accelerate their path to profitability.
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RevRoad gives entrepreneurs a different option, a new model they call "venture services," working alongside growth-stage companies in twelve areas-including marketing, software development, strategy, and legal. Startups are struggling to find venture capital firms eager to assist them in their growth. The entrepreneurial landscape is currently facing unprecedented challenges in raising venture capital, with global funds down 53% from Q1 of 2022, according to CrunchBase.
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Tony has worked for Zoom, Disney, and many other enterprises to produce large scale events worldwide, and has extensive experience scaling business operations and professional services. In light of this growth, RevRoad appointed Tony Allen as president of its new Orlando office to work with entrepreneurs and startups in the Florida area. RevRoad has already serviced 73 portfolio companies and helped raise their valuations to a combined enterprise value of more than $1.5 billion. RevRoad, a venture services firm based in Utah, today announced over $15 million in funding from private investors.
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