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"Top" (as in large AUM, historically reputable, and prominent brand-name that's beneficial for business school applications) funds that hire numerous investment professionals without an MBA:

  • Kleiner (multiple associates and senior associates)
  • Bain (fairly large footprint in terms of investment staff headcount)
  • Bessemer (also large footprint)
  • Insight (very large footprint, hires directly out of undergrad as well as out of banking plus startup operational roles)
  • USV (has a two-year rotational analyst program that is one of the more thoughtful that exists; https://www.usv.com/blog/hiring-new-analysts</a">read more from Albert)
  • NEA
  • General Atlantic (massive footprint, over two dozen senior/associates across all offices, primarily recruits out of banking in the 'venture' definition of growth equity)
  • General Catalyst (less than half a dozen junior staff, ad-hoc and not a process-driven recruiting model)
  • GV (does recruit out of banking through headhunters)
  • A16Z (has a massive footprint on both the investment and support side)
  • Norwest (about a dozen associates across both coasts)

That is for non-seed investing (meaning funds that do more Series A, B, and onward rounds than seed rounds). There are obviously a lot more, but these names listed are the big ones that hire more than a couple juniors at once.

There is a very poor overlap between how jobs in early stage venture (especially seed) are offered and how banking analysts manage their recruiting process.

Venture hires at smaller or early-stage shops are not made in a process-driven way. I've written more than once about this in the past, for the sake of time I won't repeat myself again.

I am permanently behind on PMs, it's not personal.
 

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