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My understanding is as follows:
 

  1. Very much focused on fit over technical capabilities, although its certaintly important.
  2. Good to be quite prepared for the stuff mentioned above, however, you can expect things like situational questions, questions about their PortCo's beyond just why you're interested (which one you like/dislike), industry trends, understanding operating models of b2b saas/valuing, etc.
  3. Something I think you should also be prepared for is pitching a company and speaking about it quite well. Be prepared to defend as well as acknowledge risks beyond why you think its a good investment. 
 

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