Thoughts on Consumer/Retail Corporate Development?

What is everyone's thoughts on consumer/retail corporate development (i.e. Walmart, Macys, Nordstrom, etc.)? If the company is a sizable F500 company in the consumer/retail area, would joining a small M&A team, say ~6 people as a junior member on the team, that do just strategic M&A and related investments pigeon hole me in my future?

As reference, I work in coverage banking in a popular sector but would like to do something tech / consumer related in terms of investing in a few years time, say at a growth or venture firm. Would going this route hurt me in my chances in the long run at a VC shop?

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