USA – Neotribe Ventures, a Menlo Park, CA-based venture capital firm focused on early-stage companies developing breakthrough technologies that stretch the imagination, closed a $90M Ignite Fund.
As Neotribe’s third fund, Ignite has attracted returning limited partners, including J.P. Morgan Asset Management and Common Fund.Co-managed by Neotribe’s founder and managing director, Swaroop ‘Kittu’ Kolluri and partner, Rebecca Mitchem, the fund will back growth-stage companies. Ignite is looking to make investments in high growth, Series B or later companies that have both a sustainable technological advantage and evidence of market fit. It will be looking to help companies scale and execute their go-to-market strategies rather than guiding founders through the phase of technological or market risk. In addition to capital, the fund will provide portfolio companies with ongoing mentorship, product and go-to-market support, as well as exposure to Neotribe’s network of partners and potential customers. A portion of the Ignite Fund’s investments will come from outside of Neotribe’s existing portfolio companies. For these investments, Ignite can either price or participate in a new round of financing. The fund will provide these companies with a new network of industry expertise, potential customer introductions, and mentorship to scale each business.Early Ignite Fund investments include: BillionToOne, a leader in precision diagnostics and maker of the a noninvasive prenatal screening that tests fetal cell-free DNA for cystic fibrosis, spinal muscular atrophy, and hemoglobinopathies through maternal blood, and Vendia, a real-time data cloud that leverages blockchain technology and creator of the first serverless platform for Web3 applications.As a firm, Neotribe has already made over 40 strategic investments from Neotribe Ventures Fund I ($138M) and II ($220M) to accelerate the growth of innovative, early-stage companies such as, Theta Lake, Hakimo, Metrika, Aira Technologies, ThirdAI, and Climate.ai. 08/03/2022
