Questions range from the standard “fit” ones (Your story, strengths/weaknesses, leadership, etc.) to technical ones on accounting and the financial statements to industry/market questions about venture debt. What should you expect in the recruiting process?Ī: Generally, you’ll complete 1-2 phone screens and then go through a Superday interview over 4-5 hours. Many of the former VCs took operational roles at companies but wanted to get back into investing and saw venture debt as an attractive option. Most IB Analysts who join venture debt funds do it as a “lifestyle move” – they work far less than in banking.Īt the senior level, around 50% of our Managing Directors come from investment banking, 33% come from a lending background, and the rest are former VCs. Another venture debt fund or a venture lender.Most people here tend to come from one of three backgrounds: Would most venture debt funds hire an undergrad or recent grad?Ī: You would need some valuation or deal experience to work at a venture debt fund, but yes, you could potentially get in right out of university.įor example, if you’ve completed previous Big 4 valuation or IB internships, you could win a full-time Analyst offer at a venture debt fund. I went through interviews quickly, won an offer, and have been at my firm for several years. Then, I randomly saw a job posting from a venture debt fund on my university’s career website, and I applied. I used that experience to network with bankers and cold call/cold email boutique banks across the U.S., but I still didn’t get much traction. ![]() However, I looked to alternative finance-related internships (e.g., accounting and valuation) to gain relevant skills and make myself more attractive to banks. I went to a non-target school and initially wanted to get into investment banking.īut I hadn’t completed any investment banking internships, so it was an uphill battle from the start. Q: Can you take us through your story and explain how you got into venture debt?Ī: Sure. Venture Debt: Equally Attractive Alternative to Investment Banking? This point surprised me, so I recently asked a reader who’s been in the industry for years to share everything he could about the world of venture debt: There, you could easily find yourself doing more qualitative analysis if you work on larger deals at venture debt funds. One is in the world of venture debt, which we covered in a previous article on venture lending jobs. ![]() Your immediate response might be “Yes, of course” – and in most cases, it’s true. If you work on larger deals with more mature companies, do you do more technical analysis?
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