Path to PE from Fintech?
Looking for advice and career prospects (and ideally feedback from someone who has done it) about moving from tech (specifically RIA Fintech) to PE.
I am a 14 year tech veteran who has spent the last 8 years working at various startups, several related to finance (wealth management, asset custody and P&C Insurance). 2 I started, 1 of which is well known in my region and by most measures would be considered "successful" as far as startups go. We are on the path to acquisition. I was key man in 3 other startups, either running tech or operations. During this time, and related to the nature of the companies which I worked, I have been in and around both banking and insurance, and have been "in the room" and contributed to discussions around corporate finance, marketing, and have generally been the most competent leader as far as technology is concerned. I have a patent associated w/ my name, and another patent for which I built the tech. I have had no exits to which I had upside, but have chips on the table at 2 startups that could pay out maybe $1MM or so in time. Both companies are in good positions, strong revenue, modest growth.
At this stage in my career (I am 34), I am getting bored of tech, have a strong interest in operations and particularly investing in and improving operations, and this is why I am attracted to PE. To begin the career move I am applying to M7 B-schools and plan to matriculate in Fall 2021. For purposes of these questions please assume that M7 B-school acceptance and graduation is a given.
I have 2 questions around my work experience and age: - What, if anything, about my work experience can I use to leverage landing a role in PE post-business school? - How can I effectively navigate being on the older side at the beginning of my finance career? I will be 37 at graduation.
bump. If there's no path, just say so :-)
Go to FT Partners as a senior level guy then exit 2-3 years later into hopefully vp level or above at small PE fund focused on fintech by leveraging the amazing reputation of FT Partners in the fintech space and their relationship with all the top PE funds
This is great thank you! FT Partners recruits from only Stanford GSB or do they recruit from some of the other M7 schools as well?
Or will I just need to network a ton?
Don't think you have to network too much, just need to show you are passionate about fintech as that is really all they do. They definitely recruit from all the top biz schools, not just stanford
Do you have any interest in moving to the ops team at a fintech-focused PE firm? Not an investing role but would definitely fit the "improving operations" part of your interests.
Alternatively perhaps reach out to earlier stage investors that would value your venture, scaling and operating experience. Later-stage venture or growth might be a decent fit.
Going through IB (all FIG groups have fintech/asset and wealth management/insurance verticals FYI) might not be a requirement, but depends on the type of job you're targeting post-IB.
I’ve thought about being on the operating side of a portfolio company but I think it would feel too much like what I do now, plus the path to VP/Partner is not clear to me (but if I’m mistaken please say so).
VC is a choice, could be interesting. But I think you are spot on with your suggestion and others, Fintech-focused IB is probably the best home for me.
Makes sense - before committing to moving into IB, you should definitely explore growth equity. The stage of the companies you have work exp at and skills in ops/tech/IP management would be assets there + many firms are open to non-traditional finance backgrounds (if you're coming out of an MBA, regardless of age/experience I'd assume you'd have to start as an associate in IB due to the skillset and structured recruiting process).
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