Career Advice : Biotech Venture Capital vs Mutual Fund

Hey everyone,

I'm seeking your advice on a future career change that should occur in the end of 2019. Here's the thing.

I previously interned in a young mutual fund specialised in biotech only equities (Long strategy) AUM 120M€ at the time where I had a lot of responsibilies early on (got to interview management, KOL's, participate in risk adjusted DCF valuations and so on...). Headcount was below 5. Got on super well with the team and loved every moment of it. Performance was really good, hours were very decent as was quality of life (Went to a few conferences abroad, company presentations, we usually had drinks on friday afternoon meetings etc...).

Then, I interned in a European Lifesciences VC firm where I enjoyed my time (way bigger structure), the job is super interesting as we are often lead investors so there is a lot of strategy involved and juniors are pretty well exposed. Hours were way longer, normal would be 60hours a week, but could climb to 80+ easily. Also got on really well with the team!

I have received offers from both parties and am now considering what to do. Both display decent comps (mutual fund offers a chunk of performance fees which is nice even though its a high matermark type of fund, while VC fund is standard comp+bonus scheme)

So considering career evolution, comp and exit opps, which solution would you pick and why? I'm just trying to figure out if I mapped things correctly. Any opinion is welcomed!

*Background (obviously not giving too much details):

European nationality, Doctor of Pharmacy and MSc in management from a top European business school. *

Thank you all for taking the time.