VC Frustration
Hello,
I have been working at startup VC fund for awhile now. I had some early frustrations but given the startup nature and the fact I came from an IB background I wanted to give it a shot before making any rash conclusions. I have been an associate for a year and a half and though we have made decent strides I think my firm has some fundamental issues that don't align with my values, work style, and long term goals -- I think its not a fit for me.
Why am I posting?
For those with a similar background (ex-IB or ex-PE) now in VC - how have you found VC? Did you move to another VC shop and find your fit? Does Growth Equity offer a nice blend of quantitive and qualitative analysis?
Thanks in advance. Appreciate any and all discussion around this topic.
Its been an year and half for me at an early stage fund, moved here from PE.
I attest to your frustrations.
I really enjoy the work, but the investments you do are a function of the partners. I am pretty much frustrated that 80% of my deals dont go through because of my partners' attitude. I remember once we were just starting the DD stage and the founding partner said I dont think this is a good investment because of no logic but his gut and we pulled out.
At the start of my career I wanted to close great deals, futuristic startups to build my personal brand as to grow as a VC. But I quickly realised you need to do your DD as well on the fund thesis and fundamentals.
Having said that I sometime get frustrated by the pay. The majority of the wealth comesments from the carry and getting points on that from partner is not an easy task.
Also. I feel the investments atleast at an early stage are more of a bet on a sector and the founding team and not on the business (as it does not exists).
I too feel getting in a growth stage VC will be the best blend, you develop enough depth in a sector and there are some numbers to play with. Also, the pay is better if you want to settle and start a family etc.
In conclusion I do like my work as a VC and I intend to stay here, but my next switch will be a more targeted one
Happy to deep dive on specific points
Seriously appreciate this thoughtful reply — thank you.
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