| Topic Name: |
Ask me VC questions |
| Message Name: |
Defining the "Top Tier"; BB private equity |
| Date Posted: |
10/28/2002 |
| In Reply To: |
Usually associates leave the firm after a few years and join a portfolio company, although a few very good ones will get promoted. I think a big issue is that the skills needed for being an associate and the skills needed to be a partner (consulting with companies, etc.) are so different, and operating experience is very handy. So I would say that jumping from VC to a startup is very common. Partners and principals are usually created at the executive level of startups, whereas associates often are fresh out of business school.
It's more common to establish a good track record at a smaller fund and then make a lateral (but upwards) move to a top-tier fund. Moving from one top-tier fund to another is probably not kosher since firms are pretty chummy, and it would look bad to jump to a competitor. It's like dating your brother's ex. |
| Message: |
What does it take for a firm to be considered top tier? Size of fund, past success or both?
How many firms would you place in this category?
Also, what's the interaction between the corporate arm and investment bank venture capital community and traditional VCs? Are they in touch and a part of the Sand Hill buzz?
|
|
