When Koko Xs considered entering the world of venture capital (VC) after graduating from college, he noticed several reasons to steer clear. He saw how hard it was to land deals and how long it took to see returns, as most VC funds typically take a decade to mature.
Yet, he ventured into VC anyway. Now, at just 21 years old, Xs has raised $17.5 million for his first solo fund, with backers including Marc Andreessen, Chris Dixon, Kevin Hartz, Josh Wolfe, Lux Capital, and anchor investor Nomads.
Early Success
Koko Xs is already on the cap tables of several promising startups. Notably, he has invested in defense technology company Mach Industries and AI chip startup Etched. His connections with Mach Industries founder Ethan Thornton and Etched founder Gavin Uberti have been pivotal. Uberti famously left Harvard to establish his company.
Xs funded his initial investments using $140,000 saved from tuition and earnings from jobs during his university years.
Background and Experience
Born in Shenzhen, China, Xs moved to a small town in Massachusetts at age 12. He later majored in mathematics at New York University (NYU), initially aspiring to earn a PhD and invent commercializable technology. To gain insight into the tech world, he cold-emailed nearly 3,000 PhDs, founders, operators, and VCs. Through this, he connected with Ian Peikon, a venture partner at Lux Capital, who introduced him to Lux GP Brandon Reeves.
“It was serendipitous,” Xs recalls. Lux Capital, located near NYU’s campus, is known for its deep tech investments. Reeves became Xs’ first professional mentor in the startup world, and Xs joined Lux as an investment analyst.
In 2023, Xs transitioned to Mach Industries, where he worked as head of growth. The company secured $79 million in a Series A round just four months after closing a $5.7 million seed round led by Sequoia Capital.
Vision and Strategy
Realizing that venture capital involves more thinking than doing, Xs decided to pursue investing full-time. By the end of 2024, he aims to deploy one-third of his fund’s capital. His investment focus includes deep tech and “deep infrastructure” companies—businesses that may not appear as traditional hard tech but align with significant market trends.
Xs believes that many deep tech ventures focus too heavily on components, leading to limited long-term returns. He argues that smaller funds like his can succeed by leveraging boutique strategies.
Future Plans
Xs plans to allocate most of his fund to 15 companies, with the goal of owning 1% of a $10 billion company. He seeks “out-of-distribution” founders—those who have endured extreme hardships, are highly neurodivergent, or take activist approaches to solving existential problems.
In the long term, Xs aims to expand beyond venture investing. His ambitions include launching venture index funds, providing venture credit, and acquiring companies through a buy-and-build strategy.
Leave a Reply