Early-stage VC firm Auxano Capital raising $25M to invest in Indian startups

Gurugram-based early-stage venture capital firm Auxano Capital said it is raising $25 million from high-net-worth individuals (HNIs), ultra-high-net-worth individuals (UHNIs), and family offices. The VC firm expects its first close of this by the end of the July-September 2022 quarter.

Co-founded by Brijesh Damodaran and Ashish Padiyar in 2016. Through this new fund, Auxano Capital aims to offer opportunities for limited partners in its fund to participate in the growth of Indian startups.

The sector-agnostic VC firm plans to use the funds in its two-pronged investment strategy – business classification (category creator, market creator, and market owner) and stage of the business (seed, pre-series, and series A/B).

So far, It has invested in more than 20 startups with a corpus of more than $7.5 million through special purpose vehicles (SPVs) and its fund. AUS, WIOM, Coffee Bond, and Stockal, are some of its portfolio startups.

“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 a positive word-of-mouth marketing,” said Brijesh Damodaran, Founding Partner at Auxano Capital.

“With this new set of funds, we have a deployment period of 18 months and aim to drive the growth of the budding entrepreneurs and companies in every stage of their entrepreneurial journey,” he added.

Auxano Capital says it is looking to invest across fintech, enterprise SaaS, sustainable mobility, and agritech via its fund Auxano Entrepreneur Trust. The VC firm has also launched Auxano Dawn Fund (Cat 2 AIF) with an additional corpus of $25 million, which is proposed to be deployed over the next 30 months.

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