Transitioning from PE to VC? How to prep?
Ignore the title, it's not up to date. Any advice on how to transition from PE to VC?
I've realized I don't enjoy looking at boring companies and don't enjoy the work at my very traditional PE fund, which is essentially just financial engineering...
Also, does anybody have any materials they can recommend as reference?
Thanks!
This will sound like glib advice but go start a startup or work at a very early stage one in a sales role / BD / GTM assuming you are non technical
You either make the product or you sell it round these parts
Typical stumbling blocks for (IB)PE->VC folks: Think about how you source deals / get used to talking about it - there are few banked deals nor bloomberg to buy shares from. Think about how to make investment decisions with highly limited information - investments are not based on 10-20 tab models. Think about how you enjoy working in a less structured environment where titles etc. matter less and work doesn't always flow from the top
From the perspective of someone who was at Real Assets PE and now works in (C)VC, I would say that there is no single resource and that the best way to prepare is to think strategically rather than quantitatively. The truth is that there are no VC IC memos out there (unlike IB), however, reading public information about deals and understanding the rationale behind the funding round will help you a lot. As a reference, you could use any article on the web about typical due diligence questions for a VC (Confluence is a good one; it has a template in Notion).
Have VC materials which can help get you up to speed - d.m.
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