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Switching into PE/VC?

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Re: Switching into PE/VC? [#permalink] New post 10 Jan 2010, 18:41
Expert's post
I noticed that Nink's Guide to VC isn't a sticky. I thought I'd add a link here since it's relevant information.

nink-s-guide-to-career-in-venture-capital-76833.html
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Re: Switching into PE/VC? [#permalink] New post 17 Feb 2010, 14:56
Just found this in an IB thread. I know that breaking into PE is difficult regardless, but can someone confirm what this Q&A says, that if you are an IB associate, you have a much weaker chance of breaking into PE than an IB analyst? What are the reasons for this? If I really want to do PE, should I just go for broke during b-school? Until now, I was thinking of really focusing on landing a great IB gig, then trying to make the move to PE.

http://www.ibankingfaq.com/exit-opportu ... associate/
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Re: Switching into PE/VC? [#permalink] New post 23 Feb 2010, 10:53
Not sure about how easy it is for associates, but I know of pretty senior people who were in IB, then moved to GM/industry (for the experience in running operations), with a view to breaking into PE.

I suppose it's just a question of how senior you want to be when you get into PE (and how long you are willing to wait!).. there are many routes to the same destination.
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Re: Switching into PE/VC? [#permalink] New post 17 Mar 2010, 06:56
I'm a 3rd year analyst at a start-up PE fund with 2 yrs BB IB experience. I know my chances are slim for mega fund post-MBA (even if i get into H/S/W), I'm wondering if I should go back to IB or should I get some MC experience if I plan to enter a mega fund a few years down the road? Any advice would be appreciated. Thanks!
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Re: Switching into PE/VC? [#permalink] New post 25 Mar 2010, 15:38
amberstone wrote:
I'm a 3rd year analyst at a start-up PE fund with 2 yrs BB IB experience. I know my chances are slim for mega fund post-MBA (even if i get into H/S/W), I'm wondering if I should go back to IB or should I get some MC experience if I plan to enter a mega fund a few years down the road? Any advice would be appreciated. Thanks!


How would MC increase your chances over the experience you already have? (Honest question)

I mentioned somewhere else that I saw a ton of Bain Capital online bios with MC background (often Bain). Wasn't sure if that was just some home-field advantage or if they really value MC experience.
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Re: Switching into PE/VC? [#permalink] New post 26 Mar 2010, 08:53
Which PE and VC firms are the most sought after, among students at top MBA programs? I assume blackstone, carlyle, and cerberus are on that list.
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Re: Switching into PE/VC? [#permalink] New post 30 Mar 2010, 11:02
Arbitrageur wrote:
Which PE and VC firms are the most sought after, among students at top MBA programs? I assume blackstone, carlyle, and cerberus are on that list.


Ones that will employ you normally serves to be enough.

amberstone - it may be more beneficial for you to work your network to find out on this. I am aware of a number of Strategic Consultants that make the jump, but as a whole of the population I am not sure how great that number is.
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Re: Switching into PE/VC? [#permalink] New post 08 Apr 2010, 08:47
3underscore wrote:
Arbitrageur wrote:
Which PE and VC firms are the most sought after, among students at top MBA programs? I assume blackstone, carlyle, and cerberus are on that list.


Ones that will employ you normally serves to be enough.


Do other career switchers here feel the bolded statement is applicable to you? Are you willing to work at any PE shop in order to be part of the industry? If not, do you think that means it's something you're not truly passionate about as a profession?
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Re: Switching into PE/VC? [#permalink] New post 08 Apr 2010, 08:56
I'm interested in the industry long term (short term goal is IB). I would want to work for a reputable firm but not necessarily a large cap/mega fund. I think that I'd have better learning opportunities at an established firm that has raised a couple of funds, successfully exited a handful of portfolio companies, etc. Versus a fund that was just raised, hasn't built a track record yet, etc. However I wouldn't be quite so picky as far as assets under mgmt goes.

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Re: Switching into PE/VC? [#permalink] New post 16 Apr 2010, 03:27
Hello everyone.

I would appreciate anyone's feedback regarding a VC/PE internship. IF one, without prior financial industry experience, was able to secure an unpaid VC/PE internship prior to b-school do you believe it would increase one's chances to obtain a summer internship or job a year out? (Please suspend disbelief)

I'm interested to learn more about the industry as the challenge of valuating, growing, or rebuilding companies is very intriguing. If in an ideal world you had an option for either VC or PE to internship in, as a career switcher, which would you choose and why?

Thanks for your input as I am a curious optimist eager to learn more about both industries.
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Re: Switching into PE/VC? [#permalink] New post 24 May 2010, 09:41
I know this was touched on in page 3, but does anyone else have knowledge of people who went from law to PE? Or even how PE lawyers would generally be viewed as a potential employee at a fund?

For a career switcher, it seems that if you could land a job at a top law firm doing PE work, you'd be in at least as good of a position to make the jump as you would be at a top bank. My basis for this is that I would think lawyers get quite a bit of the "deal experience" as well as a fair amount of exposure to the technical side of the deals, though this would be much more from a legal standpoint than a numbers/modeling one.

I know this really doesn't interest anyone who isn't considering a joint degree, but though some with PE experience could chime in if they have any general impressions.
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Re: Switching into PE/VC? [#permalink] New post 25 May 2010, 09:01
curiousapplicant wrote:
Hello everyone.

I would appreciate anyone's feedback regarding a VC/PE internship. IF one, without prior financial industry experience, was able to secure an unpaid VC/PE internship prior to b-school do you believe it would increase one's chances to obtain a summer internship or job a year out? (Please suspend disbelief)

I'm interested to learn more about the industry as the challenge of valuating, growing, or rebuilding companies is very intriguing. If in an ideal world you had an option for either VC or PE to internship in, as a career switcher, which would you choose and why?

Thanks for your input as I am a curious optimist eager to learn more about both industries.


I know a guy that worked part time, summer internship and three full semesters at a midmarket PE shop. All Pro Bono, should we say.

He got a job.

I doubt doing less would work. Without the background that suits, PE is a slog. VC has more backgrounds that work. If you want to learn about valuation, rebuilding and growing firms, go into an IB - restructuring perhaps, though that is quietening down - and then maybe move later. Much easier, more probable and established.
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Re: Switching into PE/VC? [#permalink] New post 14 Sep 2010, 12:58
curiousapplicant wrote:
If in an ideal world you had an option for either VC or PE to internship in, as a career switcher, which would you choose and why?


Wouldn't mind hearing others inputs on this.
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Re: Switching into PE/VC? [#permalink] New post 28 Oct 2010, 15:14
That was seriously funny! And it all sounds true!
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Re: Switching into PE/VC? [#permalink] New post 07 Nov 2010, 21:15
My outside in view from a lot of MC friends who either went to IB/PE/B-school @ H is that PE = Dollars and a lot of respect for MC/IB.

VC respects Startup experience or product management experience a lot more than IB/MC

I'm looking to go VC only (and not PE unless it's the internal consulting group @ Carlyle / Blackstone) in my "ideal" world.
Let's see how the apps and THEN the damn applications for jobs pan out.
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jbharris88 wrote:
curiousapplicant wrote:
If in an ideal world you had an option for either VC or PE to internship in, as a career switcher, which would you choose and why?


Wouldn't mind hearing others inputs on this.

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Re: Switching into PE/VC? [#permalink] New post 07 Mar 2011, 11:00
If anyone is interested in reading up on the PE/VC industry, you should check out the case notes that Tuck puts up online. I took the PE class and the notes were excellent, very indepth.

http://mba.tuck.dartmouth.edu/pecenter/research/case_studies.html

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Re: Switching into PE/VC? [#permalink] New post 24 Mar 2011, 11:13
refurb wrote:
If anyone is interested in reading up on the PE/VC industry, you should check out the case notes that Tuck puts up online. I took the PE class and the notes were excellent, very indepth.

RF


Wow refurb, thank you very much!
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Re: Switching into PE/VC? [#permalink] New post 23 Jun 2011, 13:56
Great thread. +1 agold
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Re: Switching into PE/VC? [#permalink] New post 24 Jun 2011, 10:14
Very interesting tread.

What about the international PE offices ? Having lived in country where, let's say, Carlyle has a office, would it make easier to land into a job ?

I understand that the language and culture would be major hurdles for someone who does not speak the local language, even with a H/S/W + Ivy League degree. The due-dilliengences, local negotiations, etc., may play a big role as well as the valuation modeling.

I read a bit about the top American and Euro PE firms and it seems that they are expanding their international presence to compensate for the current US & Europe economic downturn.
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Re: Switching into PE/VC? [#permalink] New post 08 Oct 2011, 12:01
This thread is rather sobering for a career switcher like myself however it does match with what I have read on another forum.

I'm active duty military right now and had hoped to leverage an MBA into PE. I think prior military service is a plus for getting into a H/W/S and a plus for many companies but definitely not for PE. I had thought originally that it might be good to do a few years as an I-Banking Associate then switch to PE but from what I've been able to find it sounds like your switching opportunities are really limited to pre-MBA analyst or VP/MD level and not much in between. A lot will depending on where I get into school I suppose but I may need to re-evaluated my career plans.
Re: Switching into PE/VC?   [#permalink] 08 Oct 2011, 12:01
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