How to contribute as a VC Intern?
I was recently asked this question during an interview and all I could really say was that I could help with market research since I'm an undergrad and have no real VC experience. Interviewer told me point blank that any kid in college could do research for a VC and I didn't know how to respond.
Any tips for answering this question or ideas for unique ways (other than research) to contribute as and undergrad VC intern?
Thanks
Definitely not exhaustive but a few points.
Sourcing- help feed the pipeline of full-time employees heavily. They rely on it. Build your own basic pipeline if possible.
Portfolio management: this is applicable if the vc is more hands on with their portfolio firms. Try to get clients for the firms. More revenue for the portfolio means more revenue for you.
Investment committee materials. This depends from firm to firm, but anyone with a basic knowledge can do this.
Fundraising for the vc. If it's a big vc the investor relations team will take care of it. Smaller vcs usually the investment teams are more involved with this. So again here's with helping prepare marketing materials etc..
Again, I never worked in vc myself. But had a lot of interactions with vc through my stint at a growth equity firm, another internship at a sell side boutique, and ofcourse through My friends who interned / work at a vc firm.
Amazing thank you!
Spent a summer at a VC- the only value you can really add is via sourcing. Sure, they might have you do random research, but like you're interviewer mentioned, anyone with a pulse can do that.
Stress that you're willing to go pound the pavement looking for deals and explain how you might do so. If the VC has a specific sector focus, explain how you might find deals in that sector. Explain how you could leverage any connections you might have (people from your college who started companies, friends working at startups, etc). If an intern even has the potential to bring in a unique deal, then they become super valuable to the VC, so all you need to do in an interview is show that you will bring deals to the table.
Amazing thank you!
Intelligently sourcing deals is everything as a junior VC.
When I’ve interviewed people for entry level roles, the best answers to this sort of question invariably evidence that you can add value on sourcing. In other words, I would go into any interview having already sourced a couple of deals that are relevant for the VCs investment mandate and where you have a thematic view on the industry vertical.
Describe why the vertical is interesting and then articulate your investment thesis for a specific company. If you’re actually in contact with the company - even better.
Doing this 1) shows that you understand what a junior VC does all day, 2) that you’ve taken the time to work out their investment mandate, 3) demonstrates your dedication to adding genuine value to the firm, and 4) shifts the conversation onto a topic where you can demonstrate your knowledge.
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