Gurugram-based Auxano Capital, an early-stage seed to series venture capital (VC) firm, has invested Rs 20 crore in the financial year (FY) 2021-22 from two funds. These are Auxano Entrepreneur Trust (AET)-Cat I Angel AIF and Auxano Dawn Fund (ADF)-Cat II AIF.

The VC firm has invested in six companies in 2022 and committed approximately $0.5 million in three more companies, which are expected to close before the year-end. 

The investments initiated by Auxano Capital include early-stage technology-driven companies across sectors like genomics, edtech, drones, alco-bev, SaaS and agritech. 

Currently, it is planning to invest in emerging technologies like blockchain, NFT, Web 3, augmented and virtual reality (AR/VR), metaverse, IoT and cybersecurity.

Addressing the development, Brijesh Damodaran, co-founder and chief investment officer of Auxano Capital said, “We did not make any fresh investments between late 2021 to mid-2022. Skeptical of the increasing froth in the ecosystem, we focused on strengthening our existing portfolio companies, while exploring opportunities. As this settled over the next three months, we identified five new investments."

He believed that VC firms should not chase the fear of missing out (FOMO) but rather follow the process and thesis. They must be conscious of their competencies and remember that their role is to provide capital for the business and not run it.

"They should guide entrepreneurs in maintaining legal, financial and regulatory hygiene and assist entrepreneurs in Building an A-Team, achieving growth, and implementing processes,” he recommended.