Most venture capital firms are small and don’t have large legal departments. In fact, some small firms may only have a chief legal officer on staff or they may only employ contract attorneys. At a large VC firm or a law firm that provides services to the VC industry, new hires might begin as associates or principals, then advance to the positions of managing attorney and chief legal officer. Some attorneys become partners, or even managing partners. With experience, a highly skilled lawyer who works for a VC portfolio company might become the chief financial officer, CEO, or chief operating officer.
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