Auxano Capital eyes final close of two funds, 3-4 exits by year-end

VC firm Auxano Capital aims to close two funds worth ₹200 crore each by end-2025 and plans 3-4 startup exits, with investments nearing ₹200 crore across 34 startups

Auxano Capital, an early-stage and pre-IPO venture capital (VC) firm, is targeting the final close of its two funds — Auxano Entrepreneur Trust and Auxano Dawn Fund — by the end of this calendar year. Each fund has a target corpus of ₹200 crore. In addition to fundraising, Auxano is also planning three to four startup exits by year-end.

 

In the Entrepreneur Trust, which is a Category I Angel Fund, the firm is yet to raise ₹50 crore. As for the Dawn Fund, a Category II Alternative Investment Fund (AIF), ₹75 crore is pending to be raised. While the former fund was launched in 2020, the latter commenced in 2022.

 

The limited partners for both funds are predominantly corporate professionals, said Brijesh Damodaran, managing partner at the VC firm.

 

On Auxano's investment plans, Damodaran said, “As we speak, we have invested close to ₹130–140 crore. We are looking to invest more in the coming two months. Hopefully, by the end of this year, we should be able to invest between ₹175–200 crore.” He added that out of the 34 startup investments made to date, nearly 70 per cent of the amount came from the Category I Angel Fund, while the remainder came from the Dawn Fund. 

 

A few of the firm’s portfolio companies include Aereo, Wiom, Mugafi, fintech startup MProfit, semiconductor chip manufacturer Polymatech, and mortgage lending platform LoanKuber, among others.

 

Talking about the exits, Damodaran said the firm has made four exits so far, while a few are in the offing. “We are looking at three to four more exits by the end of this year, so the count goes up to seven to eight exits. If I look at a portfolio level, we should look at an IRR (internal rate of return) exceeding 25 per cent, and at a median level, much more than that.”