Transitioning from Growth Equity to the Public Side

Hi all - I'm currently a first year associate at a well known growth equity firm focusing on software. Came here last summer after two years of tech banking at GS/MS.

To be completely honest, I didn't really know what to do after banking but a bunch of my colleagues were doing software buyout or growth, so I just mindlessly followed down that path during on-cycle.

I've been self-reflecting a ton over the past couple months figuring out what exactly I want to do, and I'd like to transition to the public side (have good reasons, can discuss later).

My question is - is it even possible to transition from growth equity to hedge funds / Long-only shops or is it too late for me now and I should've done this while I was still in banking? For reference on the type of work I currently do, my current shop typically writes $75-$100m checks in series C/D rounds, but also do growth buyouts as well for larger deals.

Would appreciate any advice on how to best approach the transition and the type of funds that would be most open for a person with my background.

Comments (4)

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  • Associate 2 in PE - LBOs

Depends, are you talking GA/TA or Insight/Iconiq? Former, easily, latter, more difficult, i.e. not really a well worn path but I'm sure still possible. Have seen plenty of comps for the former. Don't want to name specific names but can think of some at GA for sure, I have to imagine TA does fine, Summit might be harder just purely guesswork here.

As a return favor, can you describe the modeling for Series C/D in excruciating detail? I don't want to ever balance a balance sheet again, just want to do simple P&L into cash flow with no B/S projections, and want to invest as late as I can in Series X deals without having to really do any deep modeling (just want to project key operating metrics and get an idea of how they turn NI into cash).

bzfracas, what's your opinion? Comment below:

Mention the comment above that if its a top shop, transferability/optionality is probably still there after a year.

Curious - what parts of growth equity do you not like? What of your day to day do you not like

  • Analyst 1 in IB-M&A

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