Summary:
Ali Partovi has influenced Silicon Valley significantly, despite lesser-known status.
Neo, his venture firm, aims to revolutionize talent discovery in tech.
Invested in promising startups like Bluesky and Kalshi.
Focuses on discovering future superstars in college and nurturing their potential.
Neo's Scholars program offers $20,000 grants without equity demands.
In Silicon Valley, where familiar names often steal the spotlight, Ali Partovi has made a significant impact, even with less public recognition. An Iranian-born Harvard graduate, Partovi's career highlights include:
- Joining the founding team of LinkExchange, which Microsoft acquired for $265 million in 1998.
- Co-founding iLike, sold to MySpace for about $20 million in 2009.
- Launching the educational nonprofit Code.org with his twin brother Hadi.
- Investing early in tech giants like Facebook, Airbnb, and Dropbox.
Partovi's current venture, Neo, is an eight-year-old firm focused on revolutionizing talent discovery in tech. Their notable investments include:
- Being the first institution outside Twitter to invest in Bluesky, valued at $700 million.
- Supporting Kalshi, an online prediction market.
Partovi emphasizes discovering future superstars early, often while they are still in college. His approach includes:
- Conducting technical evaluations as a tool for deeper conversations rather than rigid assessments.
- Running a “Neo Scholars” program that grants $20,000 for a gap semester without taking equity.
- A traditional accelerator program for 20 early-stage startups a year, offering funding and mentorship.
Partovi looks for three key qualities in potential founders:
- Technical ability
- Entrepreneurial inclination
- Willingness to challenge the status quo
He also values magnetism, believing that the best founders attract their peers. As Neo's reputation grows, so does competition for its programs, with applications doubling annually. Despite this, Neo remains selective, focusing on quality over quantity.
Recently, Neo closed on $320 million in new capital, with Partovi investing significantly from his own funds. Early results from Neo’s funds are promising, with the first fund estimated to be worth three to four times its original value.
In a challenging exit market, Partovi advises founders to prioritize building enduring value and serving their customers, stating, "Build a product that’s so wonderful that other people just love it. Money is the result, not the goal."
Pictured above, Partovi and his partners at Neo, Suzanne Xie and Emily Cohen.
Comments