Gurugram, an India-based early-stage venture capital firm, Auxano Capital launched USD 25 million for Category 1- Angel Fund. A network of high-net-worth individuals (HNIs), ultra-high-net-worth individuals (UHNIs), and family offices pooled the funds for Auxano Capital. The company announced the launch of the angel fund on July 21, 2022. The venture capital expects to achieve the fund’s first close by the end of this quarter, i.e. July-September 2022.
Purpose of the fund by Auxano Capital
With the launch of the recent fund, the firm proposed a two-pronged investment strategy. Firstly, it aims to invest in business classification (category creator, market creator, and market owner). Further, it intends to allocate the funds to the stage of the business (seed, pre-series, and series A/B).
The company seeks to provide opportunities for limited partners in its fund to participate in the growth of Indian startups. Besides, the VC firm launched Auxano Dawn Fund (Cat 2 AIF) with an additional corpus of USD 25 million. The Auxano Dawn Fund is expected to be deployed over the next 30 months.
What the cofounder has to say
Brijesh Damodaran, cofounder and chief investment officer at Auxano Capital, said, “At Auxano Capital, we have been investing in early-stage startups since 2016. Our strategy involves investing in next-gen technology-led and consumer-focused businesses driven by the subscription economy. In the past, we have displayed our process orientation in selecting quality businesses to invest in and have shown results in terms of growth of our portfolio companies to the participating investors leading to positive word-of-mouth marketing. With this new set of funds, we have a deployment period of 18 months, and we aim to drive the growth of the entrepreneurs and companies in every stage of their entrepreneurial journey. We are also in the process of finalizing the right set of partners for the fund.”
About Auxano Capital
Brijesh Damodaran and Ashish Padiyar are the founders of Auxano Capital. The company came into existence in 2016. The Gurugram-based VC company has the vision to foster entrepreneurship, innovation, and growth. The firm seeks investment opportunities in startups across various segments such as fintech, enterprise SaaS, sustainable mobility, and agritech. Since its inception, the company f has invested in more than 20 startups from a corpus of over USD 7.5 million. The company counts Drone startup Aarav Unmanned Systems, edtech startup Edukemy, and genomics startup Clevergene among its portfolio.
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