Ali Partovi, the founder of Neo, is on an eight-year trip. He’s changing the way that the startup ecosystem finds and develops extraordinary talent. Partovi’s venture capital fund further shares that mission in trying to change how we discover. Its efforts have already begun to yield striking returns, including winning national attention and recognition from investors and entrepreneurs.
In the intervening years, Neo has established itself as one of the leading venture capital powerhouses. Its first fund has since grown to three to four times its original value. Partovi expressed tremendous optimism that this figure can double or even triple yet again. This bodes well for the company’s future direction. Neo’s debut fund has done very well. Thanks to a home run investment in Anysphere that is well on its way to becoming a $10 billion dollar unicorn, its second fund has now more than doubled in value.
Neo not only succeeds at making great investments, but it operates a terrific accelerator program. Through this competitive program, each year we fund, train and mentor up to 20 selected startups. The program’s increasing popularity is evident, as applications for both of Neo’s offerings have doubled annually. Partovi emphasizes a deliberate choice to prioritize selectivity over scale, ensuring that each participating company receives the attention and resources necessary to thrive.
Partovi identifies four key qualities that he looks for in founders: technical ability, the willingness to challenge the status quo, a dedication to serving others, and personal magnetism. He talks a lot about the importance of technical skills. Founders may not be coding daily, but a strong grounding in computer science enhances critical thinking and problem-solving skills, both of which are essential to thrive in the startup world.
“Computer science really helps. It just helps you think.” – Ali Partovi
Partovi’s method of talent discovery is intensely personal. Whether it’s code tests or running their technical teams through really intense tech interviews – the same kind that you see at big tech like Google. This approach represents her commitment, and his commitment, to the idea that rigorous standards of evaluation can result in a markedly improved outcome for startups.
In a personal and remarkable moment, Partovi challenged a college classmate to a coding contest. They completed it in only 15 minutes! His faith in spotting potential has been successful so far. He declares that this year Neo has come into its own.
“This year, for the first time, I can conclusively say that we are discovering the future superstars before anyone else.” – Ali Partovi
Partovi’s insights extend beyond technical acumen. He urges the next generation of founders to be less concerned with money and more concerned with how they can serve other people.
“I tell people not to obsess about making money and obsess more about serving other humans.” – Ali Partovi
Partovi continues to create a culture that frees his potential founders to pursue strategic risks. He challenges them to get out of their comfort zones and make bigger impacts.
“I try to coax them towards taking a bit more risk, going outside their comfort zone, aiming higher than whatever they are aiming for right now.” – Ali Partovi
Every year, Neo identifies thirty amazing people to be a part of its program. It underscores the value of a diverse skill set and an entrepreneurial mindset. Partovi shares this little known fact. Every new grad hire at OpenAI that year had the good fortune to be mentored by Neo.
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