| Topic Name: |
getting started in VC |
| Message Name: |
Suggestions for potential VC's |
| Date Posted: |
09/25/1999 |
| Message: |
I've been with a young, small, California-based VC firm for about a year and half. Fortunately for us, we've picked some winners and scored big. We're in the process of raising a new fund and determining adjustments to our business strategy, which includes adding new team members.
In terms of bringing in new, young talent from outside of the industry, I have to agree with most of the advice that others have posted here. Times are very good for a lot of VC's and there are lots of smart, talented people that want in. I, myself, feel very fortunate to be in the business.
The VC business is becoming more competitive and fast paced so firms generally want to bring in talent that can immediately help with key aspects of VC operations (most don't have time to "train"). The major ones are: sourcing (personal contacts with existing/potential hot entrepreneurs), evaluation (good technical and/or analytical skills), negotiation (experience doing deals and structuring strategic relationships), and portfolio monitoring/assistance (functional, technical, or operational expertise that can help a growing company). If you are really strong in 3 out of 4 of these areas, I think you've got a shot.
I do not recommend sending unsolicited resumes to firms (don't make an impression). Your best chances are initiating contact are: doing a great job in key position at a start-up that the VC firm backs or working in multiple roles for a reputable leader in a key industry (HP, Cisco, Microsoft, McKinsey, Disney, etc) and getting a personal introduction to the VC.
These things generally take time. Most VC firms are quite small so chemistry is critical (for everyone).
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