From the coding tests to startups worth one billion dollars, Ali Partovi’s experience is eight years

In Silicon Valley, where the same high names tend to the main headlines, Partovi had a great influence despite the limited recognition of the name. Harvard’s graduate, born in Iranian, built an early biography-to join the founding team of Linkexchang (obtained by Microsoft in 1998 for $ 265 million), and participated in the establishment of Ilike (sold to myspace for $ 20 million in 2009), and launching the non-balance educational code. Together, they have also become the first investor in technology giants such as Facebook, Airbnb and Dropbox.

While those familiar with the industry have long have seen Partovi Brothers’s participation in the start starting as a strong signal, the Ali star is now rising more broadly outside the technical circles. This broader recognition stems from NewHis eight-year-old investment company promised from the beginning a revolution in how to discover exceptional talents-and the development of some somewhat convincing evidence.

Among its bets, Neo was the first institution outside Twitter to invest in the Bluesky decentralized social network, which was said to her 700 million dollars In a financing round in January, and Calchi, a online forecasting market that began to increase its popularity during the US presidential election last fall.

“This year, for the first time, I can categorically say that we discover future stars in front of anyone,” said Partovi, known to be generous, generous and stubborn parts, this editor on Friday.

New relationship with Michael Tewel helps tell the story.

In 2017, Tewel, who was then student at the Massachusetts Institute of Technology, was interfering in Google when a student colleague suggested that he meet him with Partovi. During those hour -long hours, Partovi Truell gave a 15 -minute coding test. ASK was not unusual for Partovi. When investing with his brother, the two usually deliver the difference through Technical interview As if they wanted to get a job in Google. But it represents Partovi’s approach to NEO, where he uses technical assessments not as a rigid measuality but as deeper conversation institutions.

The moment was also the beginning of a relationship that could prove profitable for both Partovi and Truell. In fact, years later, supported first by Partovi, Truell participated in establishing Anysphere, the famous coding editor -in -chief index, who is now joking with a 10 billion dollars The evaluation may become one of the most successful investments in New.

Like Y Combinator before, the Neo approach represents the basic thinking of the investment capital – focusing on exceptional individuals instead of the difference or market trends. Instead of betting on specific topics or teams, Partovi focuses on identifying exceptional individuals, often in college, and offering their capabilities through guidance before they integrate a company.

For these university students, Partovi – with his partners in NEO, Suzanne Xie and Emily Cohen – runs the “Neo Scholars” program provides a $ 20,000 grant to take a semester of the gap, and there are no ownership rights. (Thirty people are chosen annually.)

In 2022, for emerging companies in the early stage, Partovi, in addition, created a more traditional acceleration program that provides financing and guidance to 20 companies every year.

“I am trying to persuade them towards risk a little more, and get out of their comfort zone, the goal is higher than anything they aim at now,” Partovi explained.

The strategy requires patience. Starting in the first days of New New, Partovi personally traveled to the country, conducting interviews with students and managing coding tests to find “tomorrow’s makers”, with his words.

Others clearly think it is good in it, and it is no wonder. In addition to Anysphere and Kalshi, NEO scientists have continued to find the recently estimated assistant assistant company 4 billion dollars; Pika Labs, which makes the AI ​​Tool from the text to the video and currently evaluating the video 700 million dollars; And Chai Discovery, who did not participate in post -money evaluation 30 million dollars From Openai and Thrive Capital last fall to feed the multimedia foundation model to predict the molecular structure.

“Last year, each of Openai’s new graduate tenant was a new researcher,” Partovi proudly pointed out when we spoke.

When assessing potential stars, Partovi is largely focused on three basic characteristics: technical ability, entrepreneurship, and the desire to challenge the current situation.

Technical ability is important not because the founders will symbolize all day, but because “computer science really helps. It only helps you think”, Partovi explained, citing examples like Jeff Bezos, Red Himingz, and Larry Ellison – all computer science students who have become legendary business leaders.

The experience of organizing previous projects indicates the tendency to risk and hunger to build the products that people love. The third quality – challenge the status quo – talks about the founders’ readiness to question the basic assumptions.

However, there is a fourth quality that Partovi is more important: magnetic. Partovi says: “I ask myself, if (this person) has started something, how much may they join their smartest friends?” (This was particularly evident in Tewel, who persuaded his “Partovi Confidence” that “his smartest friends at the Massachusetts Institute of Technology are considering joining him.”

With the growth of the NEO reputation, it was joined in the competition. Requests on both new programs have multiplied annually, according to Partovi, who added that although many project companies will expand to accommodate the demand, NEO has made a deliberate option to maintain selectivity on a scale.

Philosophy extends to size. While the VCS that can raise money is usually not doing it, the NEO-which was closed earlier this month with $ 320 million in the new capital-has not earned a little more than 235 million dollars In the capital obligations it collected in 2023, at the same time, Partovi’s personal share in the latest box increased significantly, where he put him more than his money in this box more than the previous three new funds. (Among the other supporters of New Sheril Sandberg, Bill Gates and Raid Hoffman, who wrote one of the first checks to New 2017.)

While Partovi warns of discussing the unrealized returns when urging them, the early money from NEO works very well. Partovi said the first box ranges between three and four times its value, with “a possible field to double or trio again.” He said that the second fund has doubled more than weak investment in Anysphere alone.

As for the cold exit market and how the founders are advised to move, Partovi said it encourages the founders to build a permanent value. He said: “I (tell) that people do not acquire more money and obsession about serving other people.” “Build so great that others love him. Money is the result, not the goal.”

In the image above, Partovi and his partner in New, Susan Shih and Emily Cohen.