The Biotech Startups Podcast 🧬 Kittu Kolluri - Neotribe Ventures - Part 3 | Influence vs Control as a VC | Being a Leader in Venture vs a Leader in a Company | Starting Neotribe as a Passionate Rage Against the Status Quo | Sunk Cost vs Opportunity Cost | Optimizing Customer Acquisit
Jan 3, 2024
36:51
Part 3 of 3.
My guest for this week’s episode is Kittu Kolluri, Founder and Managing Director of Neotribe Ventures, an early- and growth-stage venture capital firm investing in companies that solve hard technical problems and disrupt non-traditional industry sectors. Neotribe is led by a team of serial entrepreneurs with a track record of supporting and advising startups from seed round to IPO. As a Silicon Valley veteran with a career spanning three decades, Kittu has had numerous roles before his time at Neotribe Ventures. Some highlights include working as an engineer at Silicon Graphics, co-founding Healtheon/WebMD, being the founder and CEO of Neoteris, and investing in over four dozen successful companies as a general partner at NEA.
Join us for the conclusion to the conversation with Kittu as he discusses working at the VC firm NEA and how his risky initial investment paid off after the company sold for over a billion dollars. His thoughts on sourcing opportunities and the differences between being a leader in a venture and a leader at a company. Kittu also discusses his investment philosophy as well as the values that he instilled in Neotribe Ventures. We also cover the personal and professional struggles that Kittu had to overcome while founding Neotribe. Lastly, Kittu discusses his take on why personal networks are critically important for long-term success. Please enjoy my conversation with Kittu Kolluri.
Find Our Guest, Kittu Kolluri, at these links:
https://www.linkedin.com/in/kittukolluri/
https://www.neotribe.vc/
Find Our Host, Jon Chee, at these links:
https://www.linkedin.com/in/jonchee
https://www.excedr.com
Timestamps:
00:20 Intro
01:15 Episode starts, starting at NEA and learning venture capital is about influence/control
04:07 Raising money at a Seed Stage, proof of value and proof of market, setting up a sales module
07:10 Sourcing opportunities, the differences between being a leader at a venture and a leader at a company
08:48 Partnership model differences in venture capital
10:33 First risky investment in Weatherbuild, growing his reputation with its billion-dollar success
14:00 Ranking the importance of product, market, and team before writing the check
15:38 Knowing when to start Neotribe, Neotribe as a “passionate rage against the status quo”
17:23 Pillars of Value at Neotribe and how they work with companies, building trust with entrepreneurs without feeling judged
20:45 Raising the first VC fund, the difficulties of building a company with personal struggles, the importance of a support network
26:44 Success is a function of two things, why a CEO can be considered an investor in their own company
29:16 The differences between operators and Venture Capitalists, optimizing customer acquisition
35:00 Outro
Social & Website
LinkedIn: https://www.linkedin.com/company/excedr/
Youtube: https://www.youtube.com/@excedr
Instagram: https://www.instagram.com/excedr_inc
Twitter: https://twitter.com/ExcedrInc
Facebook: https://www.facebook.com/excedr
TikTok: https://www.tiktok.com/@excedr
Podcast Website: https://www.thebiotechstartupspodcast.com/
Enriched Notes:
Topics Mentioned:
Fooled By Randomness by Nassim Taleb https://en.wikipedia.org/wiki/Fooled_by_Randomness
Thinking in Bets by Annie Duke https://www.amazon.com/Thinking-Bets-Making-Smarter-Decisions/dp/0735216355
Go long or go short? A VC reveals when it’s time to sell and how to maximize buyer interest by Kittu Kolluri https://techcrunch.com/2023/02/22/go-long-or-go-short-a-vc-reveals-when-its-time-to-sell-and-how-to-maximize-buyer-interest/
Top VC Firms for Biotechs https://www.excedr.com/blog/top-vc-firms-for-biotech
VC Term Sheets https://www.excedr.com/resources/venture-capital-term-sheets
VC Term Sheet Clauses: A Glossary of Key Terms https://www.excedr.com/resources/vc-term-sheet-clauses-and-terms
What are Your Funding Options https://www.excedr.com/resources/biotech-startup-funding-options
Getting Funding for Lab Research https://www.excedr.com/blog/how-to-get-funding-for-lab-research
Post vs Pre Money Valuations https://www.excedr.com/resources/pre-money-vs-post-money
Marketing and Sales for Startups https://www.excedr.com/blog/marketing-sales-strategies-for-biotechs
What is Capital Outlay? https://www.excedr.com/blog/what-is-capital-outlay
People Mentioned:
Mike Long CEO https://en.wikipedia.org/wiki/Mike_Long_(American_businessman)
My guest for this week’s episode is Kittu Kolluri, Founder and Managing Director of Neotribe Ventures, an early- and growth-stage venture capital firm investing in companies that solve hard technical problems and disrupt non-traditional industry sectors. Neotribe is led by a team of serial entrepreneurs with a track record of supporting and advising startups from seed round to IPO. As a Silicon Valley veteran with a career spanning three decades, Kittu has had numerous roles before his time at Neotribe Ventures. Some highlights include working as an engineer at Silicon Graphics, co-founding Healtheon/WebMD, being the founder and CEO of Neoteris, and investing in over four dozen successful companies as a general partner at NEA.
Join us for the conclusion to the conversation with Kittu as he discusses working at the VC firm NEA and how his risky initial investment paid off after the company sold for over a billion dollars. His thoughts on sourcing opportunities and the differences between being a leader in a venture and a leader at a company. Kittu also discusses his investment philosophy as well as the values that he instilled in Neotribe Ventures. We also cover the personal and professional struggles that Kittu had to overcome while founding Neotribe. Lastly, Kittu discusses his take on why personal networks are critically important for long-term success. Please enjoy my conversation with Kittu Kolluri.
Find Our Guest, Kittu Kolluri, at these links:
https://www.linkedin.com/in/kittukolluri/
https://www.neotribe.vc/
Find Our Host, Jon Chee, at these links:
https://www.linkedin.com/in/jonchee
https://www.excedr.com
Timestamps:
00:20 Intro
01:15 Episode starts, starting at NEA and learning venture capital is about influence/control
04:07 Raising money at a Seed Stage, proof of value and proof of market, setting up a sales module
07:10 Sourcing opportunities, the differences between being a leader at a venture and a leader at a company
08:48 Partnership model differences in venture capital
10:33 First risky investment in Weatherbuild, growing his reputation with its billion-dollar success
14:00 Ranking the importance of product, market, and team before writing the check
15:38 Knowing when to start Neotribe, Neotribe as a “passionate rage against the status quo”
17:23 Pillars of Value at Neotribe and how they work with companies, building trust with entrepreneurs without feeling judged
20:45 Raising the first VC fund, the difficulties of building a company with personal struggles, the importance of a support network
26:44 Success is a function of two things, why a CEO can be considered an investor in their own company
29:16 The differences between operators and Venture Capitalists, optimizing customer acquisition
35:00 Outro
Social & Website
LinkedIn: https://www.linkedin.com/company/excedr/
Youtube: https://www.youtube.com/@excedr
Instagram: https://www.instagram.com/excedr_inc
Twitter: https://twitter.com/ExcedrInc
Facebook: https://www.facebook.com/excedr
TikTok: https://www.tiktok.com/@excedr
Podcast Website: https://www.thebiotechstartupspodcast.com/
Enriched Notes:
Topics Mentioned:
Fooled By Randomness by Nassim Taleb https://en.wikipedia.org/wiki/Fooled_by_Randomness
Thinking in Bets by Annie Duke https://www.amazon.com/Thinking-Bets-Making-Smarter-Decisions/dp/0735216355
Go long or go short? A VC reveals when it’s time to sell and how to maximize buyer interest by Kittu Kolluri https://techcrunch.com/2023/02/22/go-long-or-go-short-a-vc-reveals-when-its-time-to-sell-and-how-to-maximize-buyer-interest/
Top VC Firms for Biotechs https://www.excedr.com/blog/top-vc-firms-for-biotech
VC Term Sheets https://www.excedr.com/resources/venture-capital-term-sheets
VC Term Sheet Clauses: A Glossary of Key Terms https://www.excedr.com/resources/vc-term-sheet-clauses-and-terms
What are Your Funding Options https://www.excedr.com/resources/biotech-startup-funding-options
Getting Funding for Lab Research https://www.excedr.com/blog/how-to-get-funding-for-lab-research
Post vs Pre Money Valuations https://www.excedr.com/resources/pre-money-vs-post-money
Marketing and Sales for Startups https://www.excedr.com/blog/marketing-sales-strategies-for-biotechs
What is Capital Outlay? https://www.excedr.com/blog/what-is-capital-outlay
People Mentioned:
Mike Long CEO https://en.wikipedia.org/wiki/Mike_Long_(American_businessman)
The Biotech Startups Podcast gives you a front-row seat to the business and science of building a biotech. Hosted by Jon Chee, CEO of Excedr, the show features honest conversations with founders, execs, and investors about their work, their companies, and how they got there. From scientific breakthroughs to startup lessons, each episode explores what it really takes to grow a life science company—from pre-seed to IPO.