I was recently offered a "2nd in command" role at a search fund and need help evaluating the opportunity. tl;dr it's a very unique opportunity and I am struggling to grasp how it fits into a traditional career path. More details below:
Context:
- Currently 2-4 years out of undergrad in strategy consulting. I'm very much over working in client services
- In the long-run, I am interested in tech-focused VC, or working for a tech company (unsure yet whether startup or unicorn). Business school is also appealing to me
- I would have the opportunity to leave at any point after the search ends (including staying on to operate the company)
Opportunity pros:
- Ability to test out the "investor hat" and "operator hat" at an early point in my career
- Significant financial upside
- Experience that would be very unique / access to a network that would help get me into HBS/GSB and beyond
Opportunity cons:
- I would get paid ~$70k during the search phase (~1-3 years), and I do not have a significant amount of savings given I just paid off my student loans
- In a downside case, we search for 3 years without making an acquisition (occurs ~30% of the time) and I run out of savings and have to take out significant loans for business school
- If the search extends to 3 years I will be pushing my late 20s / early 30s by the time I go to business school
Key questions:
- Does search fund experience translate well into VC investing or working in tech more broadly?
- Does search fund experience position one well for top business schools?
- Are there any other more esoteric exit opportunities following this experience that I should be aware of?
- Any other thoughts that I've missed in evaluating this decision
Thanks in advance!
don't do it bro
100% do not do it. If you're interested in VC or working at a tech company, then just go work in VC or tech now. You're still early in your career - if you want to learn how to be a great investor go work with great investors in VC / Growth. If you want to get some operating experience go work in an operating role in tech. You don't want to be guy #2 at a search fund with no brand recognition if your long-term goal is VC or Tech with business school along the way. If you're really interested in the search fund role, just go to business school and start one yourself. That way you can be guy #1.
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