Veteran VC Kittu Kolluri Secures $216M for Neotribe’s Second Fund to Back Bold Tech Innovators
Kittu Kolluri, a seasoned venture capitalist and former NEA general partner, has successfully closed Neotribe Ventures’ second fund at \(216 million—a significant increase from its \)130 million debut fund. Combined with additional capital from Kolluri and his team, the total funds now stand at \(220 million and \)138 million, respectively.
From NEA to Neotribe: A Mission to Fuel Breakthrough Technologies
Kolluri, whose career spans Silicon Graphics, Healtheon (which he co-founded), Neoteris (as CEO), and Juniper Networks, founded Neotribe in 2016 with a clear vision: to invest in founders tackling hard problems while anticipating macro trends to create new product categories.
Q&A with Kittu Kolluri: Investment Philosophy and Market Gaps
On Neotribe’s Unique Approach:
“We’re conviction-based investors,” Kolluri explains. “We take both technology and market risks, focusing on founders with transformative ideas rather than waiting for proof.”
Standout Investments:
Kolluri highlights early bets on Bloom Energy, Aruba Networks, Climate Corp, Robinhood, and VeloCloud (acquired by VMware) as examples of his high-conviction strategy.
Bridging the VC Gap:
Neotribe targets the “yawning gap” between micro-VCs (spray-and-pray) and large funds (constrained by check sizes). Their sweet spot? \(2.5M–\)5M initial investments, often as the first institutional capital.
Neotribe’s Focus: Deep Tech and Enterprise Innovation
Kolluri’s portfolio reflects a preference for:
- Deep-tech startups requiring “scaffolding” investments (e.g., Interai’s AI-driven UI generation).
- Enterprise solutions leveraging data science (e.g., Fortanix’s runtime encryption).
- Physical-asset innovation (e.g., Heliogen’s solar-concentrated heat tech).
What Founders Need to Secure Neotribe’s Backing
- Selectivity: Only 2% of inbound deals get funded (25 companies from 1,500 pitches in Fund I).
- Criteria: Solving hard problems with engineering/data science, especially in enterprise IT or physical-asset domains.
The Neotribe Advantage: More Than Capital
Kolluri emphasizes hands-on partnership:
- Operational empathy: “When founders feel vulnerable, their first call should be to us.”
- Authenticity over ego: Rejects “spewing wisdom” in favor of between-meeting collaboration.
COVID-19 and Remote Investing
Despite pandemic challenges, Neotribe adapted:
- Two recent investments (including Vendia, founded by AWS veterans) were made without in-person meetings.
Kolluri on Industry Trends: IPOs and M&A
- Stay-private trend: “Unhealthy.” Argues public markets enable growth currency (e.g., Facebook’s Instagram/WhatsApp acquisitions).
- Corporate M&A slack: Criticizes tech giants for underutilizing acquisitions as growth levers, citing Cisco’s historic strategy as a model.
Neotribe’s latest fund reinforces Kolluri’s commitment to backing audacious founders at the earliest stages—proving that in venture capital, conviction and partnership still drive outsized impact.
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