Equity Research to Corporate Venture Capital or VC; Pipedream or Attainable?
Currently covering non-pharma healthcare and really like the IT, Life Science and MedTech side of healthcare. I've known for some time that buy-side isn't what I want, and have been interested in the corporate side of finance. What I found even more interesting was some corporate entities have a venture arm that invest off the parents balance sheet, but is often tied with Corporate / Business Development or Strategy (even saw some Market / Competitive Intelligence too).
Coming from research, I don't have any deal experience but do know the space and have good modeling / writing skills. I'm also really interested in how teams looks at founders and the discussion that goes on between the two parties. Question I have is, is it possible for someone in ER to go to CVC or VC in the space already covered? Is there anything I can do to better position myself to be an attractive candidate?
I'd venture to say yes. Big asset is knowing the industry , trends, players, key levers, key needs and pain points, how and where can be made money in the space etc. Not sure how much exposure you've had to private companies in the space, so there you may need to dig deeper: key companies in growth and early stage, what and how are they doing, founding teams, what it takes them to successfully scale, moats and how they can be eroded, etc.
In addition, it would be important for you to articulate the investment side. This is rather generic and easy to learn: key concepts, what makes a deal a good deal (good company not necessarily a good deal), mechanics and key terms. Pretty standard stuff
The insights you can bring from the industry married with investment insights (not experience, but understably as you haven't invested) are key here.
Cherry on top: find ways to expand your exposure (starup events, ideally in those verticals, sessions with founders) and ways to improve your chops (serving as sparring partner for startups or angels, etc).
Good luck, tell us how it evolves!!
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