Hey guys,
I have a set of 2nd round interviews with Spectrum coming up. Has anyone gone through their private equity interview process before?
Its a sourcing oriented growth equity shop so am curious if I should be expecting technicals or a case in this 2nd round?
They tried to sell me on the fact that they are a more focused sourcing shop as compared to Summit / Battery...which seems to make sense given their small Associate pool. Any thoughts on the sourcing component vs. the more sourcing heavy VC/PE firms?
Of course, would also be interested in lifestyle and the general culture of the firm as well as comp (base/bonus).
Your insights are much appreciated.
growth equity interviews are fairly standard. be prepared to talk about a growth industry (tech, media, pharma) -- the more specific you can get the better. i.e., what are the key drivers and trends of the consumer internet space? what are some good business models in the space (traditional ad model vs. subscription vs. perp license)? who are the key players? they make ask you for specific analysis on a sector: what do you think of online video space? how does a company like NFLX deal with churn and SAC issues? do you think they will abandon the lower-margin mail-in DVD business in favor of streaming in the short to medium term? soknow not just the industry, but key diligence areas as well.
i'd def be prepared to do a mock call. the interviewers will pretend they're a management team of a company -- what sort of questions should you ask? focus on industry trends, company size, scale, and growth. from a sourcing standpoint, they're similar to a Batttery or Polaris on the growth side.
AM,
Thanks for the insight.
I've gone through a number of PE processes (later stage shops) and I'm pretty solid on the industry (enterprise tech), a number of sub-sectors, business models and key trends/issues etc.
However I've never before participated in a 'mock call' element. Really, really appreciate the tip here cause I definitely would have been caught off guard :s. If its anything like an initial management meeting at a later stage firm I should have a good handle on the type of questions / issues to key in on.
As for sourcing...hmmm not sure Im interested if its as hardcore as Battery. I don't mind sourcing as I do think its an important skill to hone/develop early in one's career. However I know Associates at Battery that went 2yrs of hard work / calling without getting the opportunity to work on a single deal. Any idea on their format / work split. I think a 50/50 (sourcing/execution) is something I would be very comfortable with.
Anything else on their reputation/track record/culture, fit?
The model can be tough on Associates from a colleague I know who has since left. The sourcing aspect is a majority of the role, and the culture is born out of former partners etc TA Associates and Summit (which basically invented the phonebook-sourcing model).
Frankly I think they will talk about Ops/Execution but the reality is the Associates are dependent to source and there are sharp elbows between Boston and California (as well as within the office). All potential cold calls are logged in a database and earmarked for first person to the lead, no real collaboration among younger guys, everyone fight for themselves etc.
Comp was the reason for my friends departure; it was below market (along the lines of below 100 each for base/bonus, not sure to what degree).
Undergraduate Spectrum Equity Internship Interview (Originally Posted: 01/05/2015)
Hey, undergraduate student and I have a phone interview coming up with Spectrum Equity for a summer internship. What should I expect in the interview and how can I prepare effectively? From what I've read, they're sourcing focused - not sure how heavily, probably not as heavily as a firm like TA Associates or Summit, but I think sourcing is a big part of associate work there.
How did it go? Any technical questions?
Spectrum Equity? Thoughts? (Originally Posted: 05/25/2010)
What can you guys tell me about Spectrum Equity? Any knowledge would be helpful.
Don't know much about them besides they are Connecticut based (I think?) and have a decent amount of money. However, they took a major image hit with their investment in Canopy - the high flying healthcare/fintech company...if you have an interview with them, I wouldn't mention this investment ;)
http://techcrunch.com/2009/11/24/canopy-financial-accused-of-serious-fi…
lol Financial Technology Partners.
Spectrum is a Boston-based growth equity shop. I was under the impression their associates do a lot of sourcing (I.E. cold-calling), but I don't have any evidence to back that up.
Any more recent info on Spectrum? Seems like their analysts/associates now all have pretty good pedigrees and some of their investments are definitely pretty interesting.
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