Neo has raised $235M in new funds from top tech leaders

We’ve raised two new funds: $180 million for our accelerator and seed deals, and $55 million for later-stage investments.

Hi Neo family,

I’m excited to share that we’ve raised two new funds: $180 million for our accelerator and seed deals, and $55 million for later-stage investments. Our backers, many of whom have supported Neo from the beginning, include renowned founders and tech leaders:

• Adam D’Angelo (Quora CEO)

• Arash Ferdowsi & Drew Houston (Dropbox founders)

• Dara Khosrowshahi (Uber CEO)

• Emil Michael (Uber)

• Eric Baker (Stubhub CEO)

• Eric Schmidt

• Evan Goldberg (Oracle EVP, Netsuite founder)

• Freddy Kerrest (Okta founder & Exec Vice Chairman)

• Gates Frontier

• Hadi Partovi (Code.org founder)

• Hamid Moghadam (Prologis CEO)

• Henry Kravis (KKR founder)

• Jeff Lawson (Twilio founder)

• Jeff Wilke (Amazon)

• Joe Gebbia & Nate Blecharczyk (Airbnb founders)

• Joshua Schachter (Delicious founder)

• Laura & Bob Muglia (Snowflake CEO)

• Max Levchin (Affirm, Paypal founder)

• Mike Schroepfer (Gigascale Capital, Meta Senior Fellow)

• Nellie Levchin (SciFi VC)

• Reid Hoffman

• Rich Barton (Expedia, Glassdoor, Zillow founder)

• Rick Smith (Axon CEO)

• Satya Nadella

• Scott Forstall (Apple, iOS, iPhone)

• Selina Tobaccowala (OpenFit, SurveyMonkey, Evite)

• Sheryl Sandberg & Tom Bernthal (Sandberg Bernthal Venture Partners)

• Spencer Rascoff (Zillow, Pacaso, DotLA founder)

• Tony Xu (Doordash founder)

• Vijaya Gadde (Twitter)

• … and more

We’re also grateful to our many institutional backers, including Cendana Capital, Horsley Bridge, K5 Global, and Sequoia Capital.

We’ve already begun investing these funds in companies like Replit and MosaicML and to support Neo Accelerator’s 2023 cohort, including our AI track with Microsoft and OpenAI.

Since 2017, we’ve funded new grads who started companies like Kalshi, Cursor, Caldera, and Skiff. We’ve mentored hundreds of Neo Scholars, many of whom now hold leadership positions at iconic companies from Figma to Stripe and at startups in our portfolio such as Ramp, Bubble, Vanta, Warp, Watershed, and Scale. In the process, we’ve backed female and underrepresented minority CEOs with $100 million (45% of our capital deployed since inception) and earned 51% gross IRR across our first two funds.

Neo is a diverse mentorship community, startup accelerator, and VC fund. Our mission is to help tomorrow’s tech leaders maximize their potential. Please join me in thanking our backers for enabling us to continue this work. I can’t wait to see what the next generation of Neo Scholars and founders build.