Working / recruiting for a vintage or 1st time fund

What’s it like to work for a PE/VC firm on its first fund? Is it a lot different than working at more established funds? Is there a huge difference in pay / bonus / carry?

Also, what’s recruiting like for these? I’m guessing it’s a lot less structured and variable, but would you also say it’s a little easier to break into considering they won’t have the clout / brand that established firms have?

I’m from a non-target at a tech M&A boutique and am thinking about next steps, curious as to if this would be a good recruiting strategy to target these firms

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