I am heading into an internship at GS/MS but have always been very fascinated by tech. I'm very interested in working in VC / growth equity / corp dev at a startup or tech company down the line. As such, I would be happy to gain some insight into the tech boutiques such as Arma / Torch / GP Bullhound in London. What do the culture and hours look like? What does comp look like? What exit opportunities are possible?
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Arma is good if you want to exit to VC
GP B is OK, but not the best brand name.
dont know torch
I would also consider Liontree
In any case all of those will significantly underperform GS / MS / JPM / Citi / BAML / Laz / Roth / Moelis / Evercore and the likes for exits. I would be surprised if people from GPB are invited to interview at MF etc. Even some of the EBs like EVER/MOE etc are not or much less invited at some of the processes like TA/Summit/Insight
However at some VCs you may have a shot if you play the midcap tech M&A and say that you are an entrepreneur while networking. But not ideal anyway, would stick to BB or even EB if you can.
Great input, thanks a lot. My main concern with BB/EB is that I might not get placed in the TMT group. Would it have a significant negative impact on my opportunities if I ended up in another coverage group?
It’s a concern for sure, although you would have MUCH better interviews coming from any random team at GS or MS than at a middle ranked boutique. Any of M&A / FSG / TMT is gold though. Leveraged as well if you’re into PE.
At EBs if the programmes are generalist you can easily position yourself for tech by networking with people there and talking to the staffer.
EVER/MOE aren't nearly the most represented. Beat out by the likes of CS, Barclays, PJT.
Yeah I just wrote MOE/EVR in a rush to cover the EB space but for sure Centerview / PJT / Qatalyst and other BBs (Barclays, CS, idk about DB) would be good too. FT Partners has pretty decent placement as well but you work hard there. I think for Houlihan / Jeffries, you could argue about going to Arma instead if you’re into tech.
Actually Moelis isn’t the most represented in tech and places better in HFs due to RX focus but you still get pretty decent interviews (although below MS/GS). Not sure about Evercore. Re: PJT, I haven’t really seen people from PJT in VC or growth (which are dominated by GS/MS tbh), although there may be some in the tech team of MF PE, someone else can confirm
Someone mentioned Qatalyst below, I would definitely go there above the 3 boutiques mentioned by OP (and probably above any firm besides MS/GS/JPM), however aren’t there just a handful of people in London ? I’ve never seen them on a deal, but they may just focus on cross border mega deals and support the US team on these, not too sure. But would assume they basically do EMEA coverage for mega tech relationships they have in the Valley and help them acquire EMEA businesses. Heard pay is very good.
I think OP is talking about the London area specifically, but if you join a MM tech firm you won’t exit into MF PE, but there are plenty of LMM/MM PE firms you could join.
Work out which sector / area you’d rather spend you’re career in, if your good you can earn money.
Take a look at Qatalyst
I heard Arma Partner's compensation/salary in London is wayy below average compared to other BB's, especially since their analysts work hard af
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