MBA for VC/GE?

Does anyone have insight on the typical career progression at the large VC and GE funds in the US? I know it's generally much less linear/rigid compared to traditional PE but I still see a large amount of Partner/Principles at these funds coming from HBS or GSB. Is it generally similar to PE at the junior levels where an MBA is required to progress beyond the Associate level? Are internal promotions common? Do people often leave to join a start up and go back into investing? 

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