3 answers
Belinda
Student
San Ramon, California
4
Questions
Asked
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Interested in VC - how to gain more experience?
Hi! I'm interested in technology and was wondering if you had any advice for gaining more experience in venture capital. I had previously done some recruitment for VC and found the process to be much less structured than for industries like consulting. I've done some research and found a few firms that I'm interested in. Do you have any advice on the recruiting process/prep for a term-time or summer internship? Thanks!
#internship #career #venturecapital
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3 answers
Connor Loveland
Associate Consultant
2
Answers
Los Angeles, California
Updated
Connor’s Answer
Unfortunately, as it sounds like you have found out already, it is much more challenging to get into VC given the lack of a "recruiting cycle" that many other jobs have (banking, consulting, etc.). However, that doesn't mean it can't be done! The key here is to (i) network and (ii) stay up to date on news.
Network:
From personal experience of friends in the space, a good portion of those that break into VC get their foot in the door through a referral. The best thing you can do is reach out to people you have common connects with at the firms you have researched. This connection can be anything that you can start a conversation with (same college, same major, same hometown, etc.).
Read the News:
Overall, VC firms want to see that you can source deals and have thoughtful ideas about companies. You will want to stay up to date on the happenings in the market and any majors deals. I know people that have gotten an interview at firms by reaching out with thoughts on potential companies to invest in. Now I'm not saying this is the right approach or it's an easy "hack" to get in the door, but it goes to show how much people value the ideas you put forward - and that cannot be done without the market and current event knowledge
Hopefully this helps, good luck!
Sort on LinkedIn to find connections at VC firms (i.e., same undergrad school, same major, etc.) and reach out to see if they would be willing to talk about their experiences
Stay up to date on current news (Wall Street Journal, Tech Crunch, etc.)
Join a club on campus (or start your own if it doesn't exist!) to get like minded individuals to help with the process
Network:
From personal experience of friends in the space, a good portion of those that break into VC get their foot in the door through a referral. The best thing you can do is reach out to people you have common connects with at the firms you have researched. This connection can be anything that you can start a conversation with (same college, same major, same hometown, etc.).
Read the News:
Overall, VC firms want to see that you can source deals and have thoughtful ideas about companies. You will want to stay up to date on the happenings in the market and any majors deals. I know people that have gotten an interview at firms by reaching out with thoughts on potential companies to invest in. Now I'm not saying this is the right approach or it's an easy "hack" to get in the door, but it goes to show how much people value the ideas you put forward - and that cannot be done without the market and current event knowledge
Hopefully this helps, good luck!
Connor recommends the following next steps:
Lily TranCat
Digital Engagement Intern
2
Answers
Melrose Park, Illinois
Updated
Lily’s Answer
Hi Belinda!
I know that many colleges have programs and even entire departments dedicated to fostering an entrepreneurial environment in all aspects from helping students build their business ideas to connecting them to VCs.
If you're a college student or recent graduate, you can reach out to professors or those program organizers at your school to see if they can refer you to a VC. I'm a fellow student interested in VC myself, so I reached out to one of my professors well connected in the industry. He ultimately referred me to someone organizing an internship program at a local accelerator.
If your school participates in the Venture Capital Investment Competition (VCIC - https://www.vcic.org/), you can also join the team to get case competition experience while funding actual startups. If your team's able to advance rounds, you'll get to talk to other VCs at the event.
Best,
Lily
I know that many colleges have programs and even entire departments dedicated to fostering an entrepreneurial environment in all aspects from helping students build their business ideas to connecting them to VCs.
If you're a college student or recent graduate, you can reach out to professors or those program organizers at your school to see if they can refer you to a VC. I'm a fellow student interested in VC myself, so I reached out to one of my professors well connected in the industry. He ultimately referred me to someone organizing an internship program at a local accelerator.
If your school participates in the Venture Capital Investment Competition (VCIC - https://www.vcic.org/), you can also join the team to get case competition experience while funding actual startups. If your team's able to advance rounds, you'll get to talk to other VCs at the event.
Best,
Lily
Samuel Achiles
Remote moderator
18
Answers
Carson, California
Updated
Samuel’s Answer
The industry surrounding venture capital requires a substantial amount of risk. So before you can hope to attract any potential recruiters, you need to ask yourself if you really want to get into the industry. It is highly imperative that you are fully convicted, especially in an interview.
My advice to you is that there are three main “entry points” into VC, which are pre-MBA, post-MBA, and senior level. The pre-MBA method is when you graduated from university and then worked in investment banking, management consulting, or business development, sales, or product management at a startup for a few years. The post-MBA method is when you did something to gain a background in tech, healthcare, or finance for a few years before business school (e.g., engineering or sales at an enterprise software company), and then you went to a top business school. Finally, the senior level method is when you successfully founded and exited a startup, or you were a high-level executive (VP or C-level) at a large company that operates in an industry of interest to VCs.
I would recommend the pre-MBA method, since you are seeking an internship in VC.
This is all the advice I can muster. Good luck and best on your career.
My advice to you is that there are three main “entry points” into VC, which are pre-MBA, post-MBA, and senior level. The pre-MBA method is when you graduated from university and then worked in investment banking, management consulting, or business development, sales, or product management at a startup for a few years. The post-MBA method is when you did something to gain a background in tech, healthcare, or finance for a few years before business school (e.g., engineering or sales at an enterprise software company), and then you went to a top business school. Finally, the senior level method is when you successfully founded and exited a startup, or you were a high-level executive (VP or C-level) at a large company that operates in an industry of interest to VCs.
I would recommend the pre-MBA method, since you are seeking an internship in VC.
This is all the advice I can muster. Good luck and best on your career.