Question about an odd VC firm...

Advanced Equities? .... Has anyone heard of these guys? What is their rep/notoriety in the industry? They are a VC firm, and they told me that I would have to do an unpaid internship for nearly 3-4 months..and then decide to bring me full time.... in time for when I graduate... . I'm wary because

a) the VP and the other guy who interviewed me both came from very non-target backgrounds/and both came off as very unintelligent
b) They spoke about "bringing me on" so that I could get my "broker licenses....63...etc."...the guy even mentioned how a lot of what he does is cold calling at times.. (it sounded like a straight up stockbroker position...)
c) How could getting into VC be this easy?..I thought VC was an ultra competitive field to get into....

Thanks

 
Best Response

AEI is not a "VC firm". They do provide growth capital to firms that already have VC investment, often piggy-backing off the knowledge/relationships they have from some top VCs (KPC, Khosla, etc.). So, they are a late stage, growth equity investor.

I believe part of what they do is they raise the money for their growth investing from their rolodex of clients (PWM, etc.). This may be where the selling, etc. comes in. So I'd ask specifically what the position entails with more specifics. For instance, what chance will you get to work with the growth team directly when they choose which ventures to help growth-finance and how closely you'll get to work with the real VCs they partner with.

Hope that helps.

 

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