I have a first round in person interview coming up with a VC firm. It was noted first round would be roughly 1.5 hours followed by a 1 hour phone interview with other members of the firm if I am not mistaken.
Firm focuses on internet, media, broader tech space. I am currently a tech banker at a BB. Any suggestions what to expect and how to quickly brush up on the space in a matter of a week? I understand I should be aware of the tech space, trends, etc. Honestly, don't follow this too much outside of the sectors / companies I work with at my BB (not many internet / media focused).
Any help would be appreciated.
Spend the next week reading everything posted on AllThingsD and TechCrunch, and you will be more or less caught up on broad trends.
The main thing you need to do is have some conviction and depth about a couple of specific sectors of interest. Pick something that will be big over the next several years and is relevant to the fund...the move towards an app based economy, payments, med tech, whatever you like. Once you pick that sector, figure out who the hot start-ups are within that sector, look at them, and make an opinion on what you think is legit vs lame (basically anyone that's just received a huge round of funding should be considered hot from a VC perspective), but more importantly why.
Also, spend time looking at their recent investments (past 6-12 months) to get a good idea of what they are into right now.
The final thing you should do is figure out what VC termsheets look like and key points of focus...pre/post money valuation, liquidation preferences, how the capital structure works, etc.
As a follow up, take a look at the Ask The VC blog to figure out the term sheet stuff.
http://www.askthevc.com/wp/
Good advice from TechBanking, +1 for him.
Also, take a look at some tech blogs (techmeme.com, theverge.com are good resources). Also, when you look at their portfolio companies, have OPINIONS on them (ie. strengths/weaknesses, competitors, etc.)
Very helpful, thanks!
I have moved onto second rounds with another VC firm in the area and they mentioned there would be a mini task I would need to complete and possibly present if I am not mistaken. Any idea what this could be? I remember the partner mentioning something about a model / cap / payout analysis. Not too familiar with VC modeling as I don't do much of it at my current role obviously. Can anyone shed some color around this?
Thanks!
I had to do a case study for my VC interview. It consisted of writing a simple investment memo (SWOT analysis, DCF/comps valuation, had to create a pre/post money cap table, exit payout analysis with IRR/MOIC). I actually had no modeling experience previously but managed to get through it as mine was pretty basic.
That is helpful, thanks! Any good resources to look into VC specific cap tables / modeling / valuation framework?
VC Interview - Associate position (Originally Posted: 04/25/2007)
I have a VC interview coming up for an associate position. I've gotten through the first round of resume/fit questions. Any thoughts on what the next round of questions will be?
To add some background, the role will be sourcing deals and assisting in execution. I have experience as an entrepreneur, not in banking. Most of those that I will be interviewing against have banking or consulting experience.
I'm pretty sure operations/entrepreneurial background is more valuable than banking or consulting.
Unfortunately, I know jack crap about the interview process, but good luck!
Depends on who is interviewing you in these rounds. Analysts/Associates will ask a few technical questions. VP/Partners will probably ask no technical questions and will be focused more on fit/prior experience. Know yourself well. Have a memorable story.
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