Associate Sourcing Model in Growth Equity: How Valuable Is it?
So a lot of growth equity shops (Insight, GA, TCV, Summit, etc.) have a sourcing model for their junior investment team and I was just wondering how much of a value add that really is (for both the employee and the fund). I understand that the job is likely not like a PWM intern gig where you just sit around and compile massive lists of contact info and just cold call/cold email but are associates really sourcing blockbuster raises that nearly every shop in the Valley knows about and is gunning for? Or is it more a shotgun strategy for the associates hoping one of their investments is a 10 bagger and the GPs are the ones bringing in the blue chip deals?
Curious if anyone has had firsthand experience - just wondering bc the model has been around for quite a while and these firms claim to have access to prop deal flow