Question about career path feasibility...
I might have the chance to work as an analyst in the corporate development or corporate ventures arm of a top tech company (won't name names to remain anon). After doing this for a year or two, is it possible/common to exit to (a) a top VC firm, (b) Growth Equity firm, or (c) MM PE firm?
Went to a top 15 UG and specialize in tech/software. Thanks for any/all responses!
Yes it is feasible, but maybe someone else with experience in tech can chime in or disagree.
Work in Growth Equity in the Energy sector. When we are looking for an analyst hire, one of the first places we look are the respected corp dev analyst programs at the major O&G service companies. Several of my graduating class were successful with that path as well.
Assuming you're talking about a FAANG type company, there should be a decent path to a VC associate position (moving up to a partner track is much harder though). Growth equity will be more difficult and will really depend on the fund and how wide they look for associates. Most funds look at bankers and that's it while some will be more open to different profiles (ie. candidates from MBB, corp dev / strategy at large tech / fast growing startup, etc).. I think MM PE is highly unlikely, the associate hiring process is extremely structured and funds really don't deviate much from their tried and tested formula of mostly looking at bankers. I personally have never seen someone make it at the associate level without IB or top consulting experience.
See thread linked below. It's certainly possible. Wouldn't say it's common, because there are not a lot of Corp Dev roles out of undergrad.
https://www.wallstreetoasis.com/forums/entry-level-corp-dev-exit-opps
To answer your questions, Yes. In general, that's going to provide the type of experience VCs will be looking for. Of course, you'll still have to put in the work to network (try to get to know your company's own VCs if they have any as a starting point) and learn the "technicals" needed for their interviews. VC interviews in general aren't super technical, more about demonstrating a deep knowledge of the market and, if you're up to it, their portfolio companies.
^ Agreed.
OP: Network is really important in VC, and while there are posting of roles as shown in this very helpful blog (https://johngannonblog.com), a lot of times friends and connections of the hiring manager/firm will have already thrown in a few referal names and warm intros here and there. If your intention is to go to VC, you’ll need to do some networking in advance and over time (re: plant seeds) so that when something does come up, your name could potentially be thrown in the running.
Also agreed with above’s point on technicals and it being more about your interest, demonstrated knowledge and views on sectors. Knowing key trends and having an idea of firms / developments in your local or regional ecosystem will be helpful. There’s less in the way of “technicals”, but understanding cap tables, concepts and terms (pre and post money, liquidation preference, etc) is helpful. Not sure if there would be questions on it, but doesn’t hurt to read up on it.
Depending on the VC firm and the stage of startups you’re looking at, there could still be some modeling involved. But it’s more understanding projections provided by the startups and making adjustments accordingly.
That blog is really useful for finding jobs. Also reminded me that one of the best things I read in this space was Brad Feld's 40 page booklet on venture capital terms and term sheets. Concise but thorough enough to understand the concepts.
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