I'm interested in going from big 4 audit to venture capital in the Raleigh/Durham Research Triangle Park area. I'm doing some research on the firms and trying to see who works for these firms that I would be able to network with. Specifically I'm trying to see if they're on any non profits boards which I could jump into a committee or participate in some way. What i've seen on the firm websites is that their "team" is small - and usually only have like 4-6 partners and no staff - at least on the website.
For example, http://www.hatterasvp.com/ lists as their team members, which is basically all partners or very seasoned executives. Are VC firms (in smaller markets) typically structured to not have associates/VPs? Is it assumed they have staff that are lower levels that they just aren't listing? If not, then I don't really have a hope for trying to network into them, right?
Would I need to go to a larger city where the VC firms hire more associates, like a typical IB or PE firm?
Typically the smaller VC firms have a few, very experienced people because that's all they need. I'm interning at one where there are only 3 partners, and then some other outside investors. All they need is a few people with a lot of combined experience to evaluate whether an idea/company is worth investing in.
Majority of VCs have this inverted pyramid structure that you are describing. The companies you invest in are young, so there's not a lot of grunt or support work involved. Prior experience at startups or as an entrepreneur are very helpful, but if you don't have either, the way to get on the radar of VCs is 1) being resourceful - be effective at networking both to connect with the VCs you're talking about and attractive investment opportunities so you're on top of the latest developments and players and 2) have a point of view that you can speak intelligently about. Pitching yourself as "smart and hardworking" will not go as far in VC as it may in some other junior level positions.
Raleigh is referred to as a Tier 2 city (like Portland, Charlotte, Nashville, Providence). lots of growth potential, but not quite there yet. I'd start in a bigger city and then try to come into Raleigh later in life if that's an ideal place for you to live.
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