I got invited for an interview with a Vista Equity-type tech PE for an associate position. The fund is quite sizeable and mostly invests in software and technology companies.
Truth be told, I'm not an expert in the space (esp. software, a bit more familiar with tech/hardware) as during my last two years in M&A I had exposure to various other sectors, but didn't really work on software.
Any last minute advice on how to prep for the industry/strategy part of the interview? I am quite confident with the technical questions on LBOs, Corp. Finance etc, but feel like software related questions could make me struggle.
I just downloaded some broker notes on the software industry in general which I will read throughout the night, but any resources or recommendations on how to best prepare within the next 48h would be much appreciated.
Cheers
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https://kellblog.com/2014/07/30/the-ultimate-saas-metric-ltv-cac/
I'd look up David Skok and read some of his stuff. Very useful stuff.
If it's a VEP-esque place, IMO the most important thing to recognize is how unusual a lot of the software firms they buy out are relative to what we normally think of as "software". Their portfolio is pretty diverse, covering a lot of less-known industries like education and agriculture. Being able to talk about nontraditional software uses and where software can expand even further will be huge.
Saas conversions and impact on return, "efficiencies" in software firms, delivery model vs. rental pricing
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