Incoming Tech PE associate looking at ways to prepare
Current 2 year an at middle market shop. joining tech PE fund in the summer, have some free time because of Coronavirus. Bank does not do much software tech stuff. Trying to find resources to help prepare (primarily models, but any tips or resources are welcome and appreciated). thanks all
Subscribe to daily newsletters like TechCrunch, Inside VC, Bloomberg Technology, Crunchbase daily, Emerging Tech Brew, SaaStr, anything that involves tech deals. I personally listen to Harry Stebbing's podcast daily, Jason Calacanis' show, etc.. I'm not too sure about resources for models but would love to hear from others regarding the same.
Thank you for your response!
Also interested! Please let me know if you find any resources, or if you'd want to split any paid resources.
do you see any value in learning a skillset in analyzing legal docs (credit agreement, commitment papers - including fee letter, flex terms, hotly negotiated terms, how to spear comps, aggressive vs normal sponsor terms)—you tell me. I can aid in that arena
hey man - sent you a pm. Definitely interested in learning these concepts!
awesome! hey maybe I overlooked but I didn't see your DM in my inbox (altho im new to this platform). if I am going senile and already sent you something, I may have sent you materials more basic..looking at this now, you are looking to learn a skillset more advanced. so anyways DM and we'll exchange emails.
A lot of the learning will be on the job, so I wouldn't stress too much. You can read up on industry primers from research analysts especially on software (pull from whatever research portal your bank uses). Research analysts also publish models if you want to see how they're projecting out financials. If your PE firm is software focused, I would familiarize yourself with SaaS models and terminology.
I would look at the deals that your firm has done in the past and read up on their respective industries. Partners often look at deals in industries that they're familiar with and this can offer some perspective on what strategy / focuses your firm has.
thanks. I have the research reports but my firm doesn’t subscribe to getting the analyst excel models. that’s more of what I’m looking for in regards to SaaS companies specifically.
Agree with this. I'd focus on learning the industry - main players, trends, opportunities, risks, etc. You'll learn the execution part (legal docs, modeling) on the job.
I cannot recommend Stratechery enough - tech strategy blog(?) with free weekly emails. The author gives some really great analysis on what's going on in tech without being too dense. You can also pay $100/year for a subscription with more content; I've personally found it to be definitely worth the money.
Curious, and I don't mean to sound like a jerk, but how do you get into software PE if you're not already reading all of these materials or know how to do software models?
going to a target school/top group and showing ability to learn in on cycle interviews
Revenue builds and customer, cohort, and churn analyses.
any idea where to get examples of these? thanks!
This https://www.thesaascfo.com/</a">site should have some valuable information.
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