Sold two Software Companies, PE possible?
Profile:
- Undergraduate Student (Non-Target)
- Sold 2x Software Products / Projects, not "typical companies" with employees, just developed software and sold it to two companies
- No "real" internships, only some start-up interns
- Very good GPA score
- Did some voluntary work and all the stuff
Is it possible to break into MFPE? Please be 100% honest. Thinking of Blackstone, KKR,....
As someone in MFPE at one of the firms you mentioned--why?
You are over qualified. Seriously you should just spend some time thinking about new software ideas (plenty of incubator or EIR programs that would pay someone with your profile to sit around and ideate the next great SaaS company for ~6-12 months) and then go and have a super successful startup. I genuinely love investing and enjoy my job and I have a number of colleagues who I know feel the same way but pretty sure every single person would rather be a tech billionaire.
I know that is somewhat of a gross oversimplification (its super hard to build a successful company etc etc) but honestly since youve already built software that companies want to buy (twice!) you probably have a better shot than most in creating a successful startup so I would go for that.
If for some reason you are still deadset on MFPE its going to be a bit tricky. I think you can def take a shot but a more likely path would probably be to join a top tech banking group (your profile if positioned right would be interesting) and then recruit on-cycle. The top MFPE programs nearly universally select for some sort of finance/investing experience which you currently lack.
Adding to what the user above commented, why don't you try to recruit for tech private equity/growth equity analyst roles instead? AKKR, Vista, SLP (not sure if they still have the program), Spectrum Equity, JMI Equity, Apax Partners, and Alpine Investors, all recruit from undergrad/have analyst programs. You clearly understand the technical aspects of the software market and could speak about your experiences on how you sold your products to existing tech companies. Alternatively, you could join a tech investment banking group and recruit on-cycle for tech/software funds.
Totally understand the appeal of wanting to join the top and largest funds but at your age/experience, you should focus on finding a program that fits your skillset and interests rather than focusing on the biggest brand name.
Based on what you said I would say look at building a startup. Having two exits under your belt will make raising capital much easier. If you don't want to go down that route you can look at VC.
The reason I say this is because the translation in understanding technology business having built technology products is much easier to overcome as opposed to trying to step into some other area of business. Not that it can't be done, but I think you 1) wouldn't really like it 2) would have a big learning curve to overcome and 3) would be letting your best talents get rusty. With 3 being the biggest long term detriment in my view.
Edit: If you want to chat more send me a DM. I am going to be actively deploying capital into the VC space by the end of this year so I might have interest in investing in an idea you have. Being a multi time founder myself I am not a fan in the bullshit that VCs pull. I will be blunt with you about my thoughts and keep the terms simple. As others have insinuated, take a risk now and go after something big. Don't waste your time pumping out DCF models as some drone in a huge company where your boss likely won't know your name. I am all for learning when someone else is paying the bills, but you don't seem to need that.
As someone who also built commercially viable software in HS/college and is now at a MF, I would heed the above advice about focusing on software vs pursuing a dumb PE job.
Had I stayed the course, I would have probably been worth multiples of what I am now and likely would have been retired by now.
With the benefit of maturity and experience, I now realize just how impressive and unique my skills were back then and one of my big regrets is having abandoned them for the sake of following the herd.
Focus on what you’re world class at. There’s an army of people chasing those jobs. You have no clue if you’ll even enjoy or be good at it, or if it will even exist in its current form by the time you’re at a tenure where you can make really money. On the other hand, there’s very few people that have done what you’ve done on the SWE side. The ones who have, likely have a ton of promise.
Imagine reading a post that says “I bought a small business and rolled it up to 5x the size, realized a 10x MOIC. And I did that 3 times. But what are my chances at getting into medical school to be a pediatrician?”
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