Should I join this 2 year old life science VC?
Hi, I would like to hear insights about whether it is a good idea to join a 2 years old venture capital firm in the capital of one of the European countries. I will be graduating from a top university with PhD in biology in a few months and then thinking of joining this venture capital firm.
This firm invests in seed and series A startups. The team is made up of 2 professors who work as advisors and have a strong track record in entrepreneurship (they founded and successfully IPO/sold their companies multiple times), two partners and a senior analyst. They recently hired 2 more analysts (including myself).
I don't know if I will stay in VC industry for the rest of my life but even if I decide to leave VC industry in 2-3 years, I think the experience/ skills gained from working as a VC will boost my CV and expand my career opportunities in life science fields.
Having said that, I am worried whether my decision and thought process is right and would be grateful to seek insights from everyone. Thank you in advance!
two years isn't a long track record, but since you have a PhD in this field, only you can say whether their tickets were winners or losers. Look at their pipeline, investment themes, their network (and the overall research areas) to figure out whether they are going down the right path or not.
exits:
stay in this firm longer
exit to one of their portcos (if that is something you are into)
start your own thing
join a biotech accelerator
join biotech for a larger firm or larger VC
anything else people come up with here?
Thank you very much for your insights. I did a bit of research on my own about the firm, they invest in hot topics in the current scientific field. So far, around 2-3 out of 10+ firms they invested in seem to be doing well in terms of successfully securing the next rounds of funding and signing licensing agreements and research collaborations with pharmaceutical companies. The professor who is working as an advisor also has a strong research record in the research field the firm is focusing on.
However, I have seen lots of negative comments/experiences that people had in VC industry in Quora and WSO. And I think some of these are true such as the majority of VC firms will not be successful and only a few people can become partners. As I am an overthinker and pessimistic, these comments make me wonder whether it is worth pursuing a life science VC career even for 2-3 years. Although I am very interested in the type of work I will be doing as an analyst, will VC experience open my career more than what I have right now?
To add more information about myself, I also have a job offer to work in a relatively large contract research organisation which offers a very similar salary as analyst position in this VC firm, better benefits and work-life balance, a clearer career track, and job security is likely to be better. But the downside is that it can narrow my career prospects and I am less interested in this role.
Thank you and your insights will be very valuable for me.
- People work in VC because of the lifestyle, the type of work they do, and because it is more flexible than regular banking grunt work. It's very different from other careers.
- Arguably, many (most?) people see VC as an exit from their more traditional banking career - I include myself in that group. VC was "the end goal" when we did banking and it was something to look forward to.
- Arguments on quora/reddit/WSO: you have to decide for yourself. I generally don't look up online resources to make career decisions. I either like a job, or I don't.
- Most VC funds I have seen have a limited lifespan, but they would still aim for a lot more than two years.
Younger funds, smaller groups, VC in general, and the overall risky nature of investments would make this step similar to sailing in uncharted waters.
Working in VC normally allows you to work in different areas, with different companies and gives you a broader scope than being funneled into a narrow role in a larger firm. And that's why I like it.
Thank you for the insights. I’m considering an unconventional path by starting my career in life science VC rather than transitioning into it later. Based on your experience, do you think moving into VC at this early stage is a good decision for staying competitive and standing out in the job market?
My thinking is that even if I find VC work isn’t the right fit, having a life science PhD from a top university combined with a few years of diverse experience in a small life science VC could open up more job opportunities.
For example, do you find that your fellow VCs struggle to transition into startups or larger firms (outside of VC and their portco), or do they generally find their next opportunities smoothly?
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