2022: Year in Review

Stoic VC
Core team: Geoff Waring, Guy Hedley, Harikesh Pushpapathan

Despite the visible slowdown in venture this year, we’ve kept our foot on the gas. We know that advancements in emerging science and deep technologies occur through all market cycles. We see the opportunities through the obstacles.

Here’s what our team at Stoic VC got up to in 2022.

7 new investments.

This year we reviewed more than 600+ investment opportunities, spanning all corners of emerging science and engineering. We announced our seed investment into Bioscout earlier this year, and since then we have written a further 6 cheques to both new and existing founders. This brings our total portfolio count for Fund I to 22.

Exciting announcements to come in the new year.

First portfolio exit.

Earlier this year, Aurtra was acquired by Schneider Electric for our first exit in the portfolio.

Aurtra was founded in 2016 by Dr Richard Harris, Steve McRae and Terry Woodcroft at the University of Queensland. Aurtra’s flagship product Healthsense combines sensor technology and analytics to predict the performance & health of energy transformers. Since backing the team in 2019, they’ve set the tone for execution.

In under five years — they’ve licensed the IP, established a revenue generating product and an exit on favorable terms. Schneider’s acquisition speaks to not only Aurtra’s excellence in transformer analysis but the founders making that a reality. They’re already proving to be a critical piece to Schneiders distribution value chain — rebranding to coStruxure Transformer Expert.

Welcomed our first external hire to the team.

In January this year we welcomed Harikesh Pushpapathan to the team as our Investment Analyst. Learn more about him and his work here.

Helped launch a new life science & deep tech community.

Lead by Harikesh, we’re bringing together the scientifically curious and technology obsessed through a new community called DnM’s. In August and September this year, we hosted our first two inaugural events. With more than 100+ investors, founders, operators and academics over both sessions, it was a surreal experience to say the least.

Big thanks to our friends at Investible, Main Sequence, Blackbird and Jelix for helping get this off the ground.

DnM’s Session #2 at Hotel Harry, Surry Hills.

Closing remarks.

To our new founders, welcome to the stoic family. To our existing founders, we continue to be inspired and humbled by the strides you’ve made, despite the headwinds over the last three years.

We’ve got some big developments that we’re excited to share in the new year, as we look to build off the success of Fund I.

Watch this space.

Disclaimer

Stoic Venture Capital is a licensed venture capital fund manager (Stoic Venture Capital ILP) under the Venture Capital Act. The fund remains under the guidance and authority of the Australian Securities and Investments Commission (ASIC).

This content is provided for informational purposes only, and should not be relied upon as legal, business, investment, or tax advice. You should consult your own advisers as to those matters. References to any securities or digital assets are for illustrative purposes only, and do not constitute an investment recommendation or offer to provide investment advisory services.


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