| Topic Name: |
Entry-Level |
| Message Name: |
Advice from a VC associate |
| Date Posted: |
10/13/2000 |
| In Reply To: |
As a junior finance major at a "public ivy" univeristy, I am struggling to try to obtain an internship with a VC firm.
I only have one contact in the industry, but its a good one. Through a family member, I have access to someone who works directly under one of the most prominent venture capitalists in the world, at one of the most prominent firms.
It is looking like I may get a telephone interview or something of that sort, and I am wondering what to expect. If anyone has advice for me, I could really use it.
Thank you |
| Message: |
After two years as an associate at a SF venture firm I can tell you its great experience. However, understand that the "ideal spec" for a VC associate is almost an impossible resume - which leaves space for the rest of us.
That "Spec" is: Technical undergrad, Finance or Consulting for a couple years (this is pedigree and contacts as well as professionalism and getting accustomed to shitty hours), some sort of entreprenurial effort (maybe as a Bus Dev person at a portfolio company).
As for the job itself (day to day): Offer to help with due diligence or some other "analysis" in a back room someplace just to get a feel for the business. There is always more due diligence to do than there is time in the day so help in this is always welcome. Often this will evolve into you joining in on meetings with companies (competitive due diligence??) and that is where you will have the most fun. True associates will also source and evaluate deals, work with portfolio companies,
Your message was vague about firms, but generally very few firms hire people with no experience. Those that do then use them as "cold callers" for deal sourcing. If that interests you check out TA Associates, Summit Partners or Battery Ventures - each have offices in Silicon Valley and around Boston.
A VC is a facilitator, s/he introduces Capital to Businesses, Management to Ideas, Talent to Opportunity. Its a very rewarding job, personally, professionally and economically.
BTW, like most people in the business, I didn't find a VC job - a VC job found me. Venture firms are swamped with resumes from hopefulls who will never even get a rejection letter, its the relationship that opens the door and then your skills and drive that get you the position.
Hopefully that gives you some ideas for the phone call. Sorry for the length.
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