Tech Groups in SF
I'm a non-target student but I'm interested in IB covering Tech and from my understanding all of that happens in SF. I'm in the Mid-west right now, but I'm willing to make a few trips out there to secure something for the coming summer.
Would it be possible to get an updated list of tech groups that operate there - BB and boutique? I'm mostly concerned about work experience, I just want to learn as much as possible there. Thanks.
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What about FT Partners - any thoughts on them? I'm hearing more about them recently.
FT Partners is definitely on the rise, but they're still small and niche (only doing FinTech).
I'm in commercial banking but it seems to me the majority of ib in Frisco is all tech
I was asked directly to come out of my eternal slumber to weigh in on this thread... but it's way too fucking general. OP, if you have specific questions about the Tech M&A scene in SF (either banking OR corp dev), I can answer those to the extent of my knowledge, but I'm not going to just list a bunch of banks for the fun of it.
Would you suggest a SA position with William Blair (SF, tech) or Jefferies (NYC, tech) for someone that wants to pursue tech in SF?
If you want to pursue tech in SF, wouldn't it make more sense to accept the offer that's in SF? You'll be closer to the markets and it'll be easier to network or lateral into wherever you want to be.
qatalyst, MS and GS are the top groups from a deal flow perspective.
Thanks for this - I've already accepted an offer with a BB (GS/MS/JPM).
Amazing. Thanks! What's your take on Evercore Menlo Park?
Evercore's positioning is probably average. on one hand, they just struck two impressive creds in $5bn+ sole sellside for brocade and $2bn sole buyside on tesla / solarcity. and i've heard positive things about the MD that led the brocade deal. but both of those were very niche situations; in brocade's case, it's an old legacy company with weak coverage by bulges (MS barely devotes resources to this space anymore). and in tesla / solarcity, tesla's a quasi-tech company and it was an all stock deal. rare situation where a bulge doesn't need to come in for the financing.
the real fees are on the sellside and that's already too saturated. GS, MS and qatalyst have a monopoly on it and i think its going to be extremely challenging for Evercore to either 1) devote the amount of resources that GS / MS do to covering the space, or 2) bring over a big enough tech hitter.
monkey53, what would you say the exit opps to buy side would be like from Citi tech group? From what you wrote, it seems like a pretty weak group. Would be interested in getting some more insight into the group.
it's definitely not the strongest brand to have on your resume for buyside recruiting, so you've got to be a bit more proactive because headhunters will place you in a tier 2 behind the leading tech platforms. at the end of the day though, if your VPs / directors have good relationships with sponsors and they tell even an associate-level person at a megafund that you're strong, that trumps any headhunter and will get you an interview 99% of the time.
to Citi's credit, they've made some good hires recently. they just hired an M&A MD from deutsche (blanking on his name) that had a reputation of being excellent on the more complex stuff (the cash-stock election structure in avago / broadcom for example). so it could be a good platform for learning at a junior level despite the sacrifice in brand
Fairly strong exits to MM PE / Corp Dev. If you think about it, Citi SF's Tech group only trails GS/MS/JPM in terms of BB Tech banking
Any comments on Barclays' Menlo Park office? Am curious, and most info on them on this forum are outdated. I'm guessing they're more of a player on the financing side for sponsors (since most sell-side mandates are dominated by GS/MS/Qatalyst?)
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