Want to move to PE/VC from BD...

Dear nice people, please help me. I do not know if I am making the right decision.

Currently, I am working for a private tech company in a business development role. I have had product management background in various tech companies as well, I must say, I am can provide a comfortable life for myself and my family (wife and kids). I make 225K a year including everything. Now, for a couple of years, I have been really thinking about moving into VC or PE careers. I have talked to a couple of firms in town, they immediately reject my applications because of the lack of banking experience I have.

Even though my current job is fine, it can be boring sometimes. I want to have more opportunity to push myself and get rewarded significantly better. My goal is to work hard, but also get paid a lot if I can make the company a lot of money. I also like to work on new things all the time hence my desire to switch into investment career.

I know that VC roles pay less than PE roles. My issue is that I cannot take a huge pay cut. I got offered an associate role in a VC company. The offer was for 110K. There was no way I could have accepted it. After that I started to focus more on PE roles, however, as I mentioned before, not having a banking background haunts me.

I should mention. I am in my mid 30s.

What would you do if you were in my position? How would you position yourself to get into a PE role?