Why we stop investing in 2023

Photo of the author: Camilo Nova

Camilo Nova


1 min read.

In late 2023 I decided to stop investing in other companies. 

Over the last decade, we invested in multiple industries, angel or seed stages, startups, and non-startups, with different check sizes. A diversified portfolio according to our knowledge.

Every investment comes with an emotional tag attached to it. The emotional tag is way more valuable.

For some, this is called the founders' curse. We have it with people we want to hire, and people we want to succeed. Founders only see the best in people, and the promise of their words, and they use a confirmation bias to reinforce this. This is why a founder is hardly going to be a great investor.

To make a great investor you need to have no emotions attached. Operate in a very analytical, and impersonal way. Quite different from my own experience doing it.

Having an emotional connection with every investment brings a heavy toll, especially when they fail, and most of them will fail. It's a risky business where you have to have very little emotional connection and deep pockets to play it right.

Personally, it sucks to see when an investment fails. I got deeply involved emotionally and is not a good recipe for an investor. I'm not a great investor.

This is why we will keep our investments and close the door for future ones for the time being.

I think it's best to focus my attention on my work at Axiacore, and our vision to take people to live among the stars.

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