First time fund post MBA pros and cons

I am thinking about whether or not I want to join a first time fund post MBA. I want to feel some real risk and like I’m building something. I know the comp is fine anywhere in PE I just want some gas in the tank of real risk and ownership that I’ve felt elsewhere but not my career.

Working at my current firm feels like working in a big corporate environment. Right now I know even if I came back as a VP at my current fund I’m a totally replaceable cog in the machine.

I have a pretty good, blue chip PE, but not perfect pedigree and am going to a good PE feeder MBA. Is this an appropriate time to make this switch? What should I be weighing as far as pros and cons? Is a search fund a better idea?

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