Value of Buyout Experience if Ultimate Goal is Growth / VC
Hi guys - longtime lurker here. I'm thinking about the next recruiting cycle, and I was just wondering if you guys think there is value in pursuing a solid PE associate program if you know your ultimate goal is to do tech-focused growth equity or VC? Are the technical skills you develop in doing MF / Upper MM PE helpful at all later when doing growth or working at an OpCo?
I'm currently in a good IB group that sends a solid number of folks to MFs / good PE shops, and a part of me thinks following the herd into PE might be helpful experience / a good credential. But if it's not really going to make me any better as a growth-focused technology investor / executive, then I would rather not waste my time and go into something like growth equity directly. The main downside I'm considering from that route is that the quality of the technical experience won't be as good as if I pursue something like buyout. I do understand that those technical chops might not mean as much for investing in growing technology businesses vs. more mature companies, but it's been my impression that traditional buyout PE develops the most general skillset vs. the other types of investing. You still need to have a sharp understanding of corporate finance as well as general high-level executive skills in tracking portfolio companies. Even if buyout is not what I see myself doing long-term, I can see an argument to be made of that still being helpful in developing a general business acumen.
But this is just from the perspective of an IB analyst, so really curious to hear your thoughts. Thanks!
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