ER to VC?
How could I pivot from equity research to VC and/or growth equity? It's totally not something I hear about, but trying to get a sense of one could get into it.
How could I pivot from equity research to VC and/or growth equity? It's totally not something I hear about, but trying to get a sense of one could get into it.
Career Resources
Based on the most helpful WSO content, here are some insights on how to pivot from Equity Research (ER) to Venture Capital (VC) and/or Growth Equity:
Skill Alignment:
Networking:
Targeted Approach:
Educational Pathways:
Intermediate Steps:
Preparation:
By following these steps, you can strategically position yourself for a successful transition from Equity Research to Venture Capital or Growth Equity.
Sources: Difference between late stage VC and growth equity, Did on cycle just start?, How to break into VC/Growth Equity?, Private Equity vs. Venture Capital in 2018, How to transition from Technology Consulting at a Tier 2 into MM Private Equity?
I pivoted from a MM ER role to late stage VC early on in my career but it took a lot of hustle and luck.
To set expectations: VC and even GE built around tight knit networks. They don't often have recruitment cycles and if they do, you're unlikely to land a job with a simple resume drop. You need to be proactive, do your homework on the partners and potential deals, and convince them that you can bring value in terms of industry knowledge and/or contacts from day 1.
There's a lot more you can do once you're in the interview process but showing that you're already plugged into the ecosystem, are scrappy with your outreach, and are willing to learn quickly will put you in a position to take on new opportunities as they come.
The role I landed was open for a year and I had heard from friends that had interviewed for it, so they gave me insight into the process as well as the headhunter that was running it. I rewrote my resume to tailor it directly to that firm and the role and then shipped it directly to the recruiter, telling her I'm a uniquely good fit. Then i reached out to all the associates that worked for the partner I'd be supporting to get insight on how best to navigate the process. Finally, I got close with one of the associates on the team and started texting him about a deal that he was working on that I guessed based on the industry and company size. I ended up building him a quick model and write up that he used to ultimately convince the partners not to do the deal.
During the interview process I followed up with each person using a personalized email and asked one of the associates what the biggest ding against me was. My grades in college were meh and since I didn't to a top tier school I needed to come up with a good explanation. I walked him through how I spent my college years working at multiple hedge fund internships (30hrs+ a week) since I was focused on learning as much as possible. After 5+ rounds of interviews with 10+ people I got the job!
I know this isn't replicable by any means, but hopefully it gives you a sense of the effort you need to put in to make this transition successful.
Not OP but thanks for this. How did you like the transition? Are you still in VC?
It was a steep learning curve but it helped to have a good understanding of the business models we were evaluating. After ~4 years I realized I wanted to follow the journey of the founders across the table instead of the partners I worked for. I ended up quitting and starting a company that's at the Series B stage now.
How's it going for your company now? Sounds like an amazing path - would love to chat and exchange notes (I'm moving from PE to operating)
How did you land the hedge fund internships from a non-target, if you don't mind me asking?
I was at a target and near a major city so I ended up grabbing mid-cycle internships which we "less" competitive.
Any updated thoughts here… considering VC route after being in ER for several years
Consequatur dolores similique natus. Est autem rerum et aliquid hic minus tenetur quisquam. Atque quasi nihil expedita temporibus. Et laborum nihil ut cupiditate blanditiis est qui soluta. Mollitia fugit exercitationem ratione et. Asperiores et atque minus.
Corrupti deserunt quidem quia fugit. Suscipit nisi esse nostrum rem autem voluptatem eaque. Quibusdam est ut sint id consectetur ut blanditiis.
Totam sit aut quos. Odio quos aut repellendus animi deleniti. Itaque temporibus recusandae voluptatum accusamus ad error dolores possimus.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...