IB -> Startup -> Buyside?
Is it possible to get into a PE/GE/VC fund after going to a startup? I'm really interested in investing but feel like I should take more risk while I'm young and single. If I exit to a startup after banking, is it possible to go to join a fund a few years later (assuming startup doesn't take off)? Would you still join as an associate? Do specific roles (like tech sales) at a startup make candidates more/less attractive for buyside?
If I wanted to join an endowment/FOF/LP later in career, would lack of associate buyside experience really matter? Should I do some type of investing role as an associate before going to a startup so the option of coming back to buyside later is open, or does it not really matter?
Analyst 1 in IB - Cov, bummer your thread hasn't had a response yet. Maybe one of these threads could point you in the right direction:
More suggestions...
I hope those threads give you a bit more insight.
Ofcourse its still possible, espec if you join a start-up in a sector that the fund that you want to join afterwards specializes in (for example).
Yes it is absolutely possible, I did something like this. Generally startup experience will be more valuable/more desirable the earlier stage you are looking at (seed-stage VC's will value that far more than your banking experience, and some are even hostile to traditional IB types). GE is definitely doable assuming you have the modeling skills (they love the combo of banking + startup), but PE would be very tough, especially if were talking about spending 2+ years at a startup (you might have some luck with MM and/or tech-focused shops, but you're gonna need to have some big names on your resume and network extensively). That being said, I would say you should only pursue this path if you're confidently and genuinely interested in either the startup/tech world or being in VC (not other buyside) long-term. VC and PE are very different worlds in terms of network, skills, personalities, etc. and it is not easy to move between them (esp. VC -> PE), so if you don't really know which you want it is best not to box yourself in so early.
Personal take is doing IB —> PE/Growth —> startup is the cleanest path. Having IB experience helps with fundraising, growth/PE experience helps you understand where others screw up or strategies to operate more effectively. Further, I think IB wasn’t great at developing superior cash management versus PE/Growth that being a key focus. I also would advise trying leave IB before your 2 years. If you get 1 year or 1.5 years that’s enough to get 90% of what you learn in 2 years. If you play it right, you should be able to be 25/26 and have IB/PE experience which still gives you time to be single/take risk while also giving you a resume that’s an easy exit to go back to the buyside or an m7 MBA if your startup doesn’t work out.
Wondering what other skills you found valuable from PE or growth. Feel like if you go to a big fund you’re wasting time as nothing you do is applicable
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