PE to Tech Corporate Development
Hello All,
Have done my time in PE and am looking to transition to Corp Dev in a large tech firm. Interviews are going well but truth be told I am well aware I will need to get up to speed very quickly on how to assess tech deals (early stage and mature companies) for later stage interviews as well as on the job.
Does anyone have a primer on how to evaluate attractiveness of tech sub-industries (i.e. understand which tech sub sectors are the most attractive and why e.g. across traditional telcos vs. modern ride sharing companies) and conduct valuation on tech companies (given industry specific valuation metrics)? Would appreciate if you could share more / point out some good sources!
Anyone?
Ask someone at the bank you worked at. Say your PE firm is evaluating broader tech opportunities and need an off the shelf primer for X vertical within broader tech landscape. Tell them not to create anything, just pull broker research reports
Honestly, google was the best resource when prepping for these interviews. VCs love putting out white papers on whatever segments they cover and a lot of the analyses/metrics are pretty commoditized.
I'd think about the sub-sector that would be most relevant to the company you're interviewing first, and then prep accordingly with some of these or similar resources. Below is Vista insights, Bain PE report on tech investing, and TMT quarterly industry reports with info on comps / deals / themes etc. Lots of the content may skew toward Software, but should give you an idea of multiples and of what types of themes drive TMT-oriented investments across different scales / stages.
https://www.vistaequitypartners.com/insights/
https://www.bain.com/insights/technology-global-private-equity-report-2…
https://gcaglobal.com/insights/
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