Moelis -> VC?

M&A generally doesn't place well into venture or growth. Places like Summit, TA, Silver Lake, Vista, etc. obviously recruit banking analysts, but First Round, Lightspeed, Lux, Spark, General Catalyst, et al. don't.

Banking in general doesn't place well into early or growth stage investing because the skill-set simply isn't directly applicable. There's less quantitative work done (more in growth equity) and much more strategic, research, and operational work.

The analysts who do succeed almost invariably come from TMT groups at BB firms. The industry specialization makes the story more salable, and the bulge name carries weight. That's not to say that a partner in VC is too stupid to know what Evercore or Moelis or PWP is, but just in general, people know and respect Goldman or Credit Suisse or Barclays or one of these giant firms that's been around forever.

It's therefore hard to answer your question. I know few people with a banking background in VC to begin with, and as I said, few of those made the move after the analyst stint.

Those who did came predominantly from West Coast BB TMT groups (e.g. GS SF to Accel, MS Menlo to Austin to Lightspeed, MS Menlo to NEA, etc.).

The next most common route would be HC or FIG to a specialist fund or practice within a larger fund (life sciences or fintech), e.g. CS HC to Aisling.

Some outliers came from those banks but other regional offices (e.g. GS Sydney to A16Z), or other banks altogether (STRH to A16Z).

Most people in banking with an interest in tech investing will recruit for tech buyout, do two years as an associate, then pursue an HSW MBA (increasingly H or S only), then recruit for partner-track roles in venture from there.

Look at all the funds you'd be interested in working at and study the team bios. See who comes from where. This is a useful exercise in any regard, as it will give you a sense of which funds value operating experience vs. those who look to groom partner-track candidates strictly with investing experience.