So the answer may seem bleeding obvious (no) but a lot of founders of venture backed companies have some m&a or tech group experience & I feel like with my CS background and a stint at IB (good regional boutique would probably be fine) would give me an edge over other young entrepreneurs trying to get angel or series a funding. This is just what I think, but is it necessary? Put up with Ib with no intention of going further in finance? And would this experience really make a difference with vc's and benefit my company at all?
[*note: 1) I want to start a web 2.0 type company 2) I do already have SA experience in banking (not ib) and at fund of funds 3) If your going rip on me and say how dumb I am for posting this, save it go do something else with your time.]
Thanks
I think you should work on your start up now and dont waste your time with banking. Why? The two years in banking could be two years building your business.
I got into b school and my boss told me falt out to stay and work for two more years and learn more and get comped the whole time. I am in s&t
really? the venture capitalists have banking backgrounds, sure. But the technology entrepreneurs founding the company? Maybe for extremely early angel investments the ones with banking experience might have "connections" but other than that I can think of no reason why that would help you. This is a great time to be an entrepreneur if you have the technical background and the ideas. I'm certain a venture capitalist that wants to be successful will base his decision on the quality of the company not on your irrelevant banking pedigree or lack thereof.
Banking will most definitely help. You can build important connections if you are a go getter, and you never know if you happen to be a star you can even persuade some people in your group to fund you when you leave after two years. I think it will give you the structure you need in terms of professionalism, ability to put ideas together, and network. Plus its not like its 2 years of just banking, you have the chance to go over your entrep. idea for 2 years before a definite launch. That way you minimize your chances of failure, plus if you do fail, you are sitting on a bit of cash from your savings.
You don't need banking experience to succeed as an entrepreneur. VCs are going to invest in your idea, your business plan etc they don't care much about your IB background.
From banking you'll gain connections and cash, but those are things you can get from VC funding. I agree with the other commentators that perhaps it is best to spend the most time possible building your business for now. A few years down the road, who knows, you may be the one hiring bankers when you bring your company to an IPO or acquisition. Good luck.
I want to do VC if I ever exit successfully with a company? Thats kind of my ultimate goal. With that in mind would it be good?
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