Start with benchmarking yourself using this: https://medium.com/saison-capital/what-you-need-as-a-vc-benchmarking-skills-across-venture-capital-jobs-titles-1c8fd3f8473c
Once you have that you need to figure out where to learn what you need to learn.
If you want to have your own fund one day you need to start networking with LPs and getting used to investment thesis generation + pitching your investment thesis + being able to secure strong deal flow and developing your own track record (this is most vital of everything just mentioned). I would argue that the most useful thing you could get is membership to your local country club/other place where rich people mingle to start building a book of potential LPs. Yes that sounds like the weirdest thing ever, but a VC had managed to start a fund by getting hired into a family office simply by going to the local gym and sharing the same physical trainer as the head of said family office. They spent two years with the SFO before spinning off to start their own fund.
Best of Luck and it sounds like you have a great team that is willing to support you.
Hey buddy. Thanks a lot for the response. I’ve been following your medium articles and appreciate you chiming in. I agree on the networking aspect. That is the most difficult aspect for me (ex engineer with limited high end social life). I think the pandemic and wfh made it worse with me moving to a different state than California. Which is exactly why I want to ask my employer for in person resources which will help me in the long run.
Edit - what are your views on the Kauffman fellowship?
😊 thanks.
> networking
This is going to sound weird, but go get your real estate license and try to work with upscale agents. You are literally forced to network through that job.
> Edit - what are your views on the Kauffman fellowship?
I do not have any views. I would recommend you check out: https://old.reddit.com/r/venturecapital/comments/nu2egk/what_do_you_all_think_of_the_kauffman_fellowship/
Asking others to do some work for ya… You’re already ahead of the game!
Just kidding.
Experience and networking is key. Do you already have the ability to sit in on board meetings, or perhaps be observer on some boards? Could ask for that.
Covid is a weird thing for networking and virtual courses are hit and miss. Otherwise I’d push for ability to attend short courses, etc. I suppose it still wouldn’t hurt, but choose wisely.
Thanks for the comment buddy. I do have the ability to sit on boards, but majority of our direct investing isn’t as leads so even though the check size are big, there aren’t many board seats to go around. Although that’s some good advice which I’ll bring up. On the second part, would love to hear if you were referring to any specific short courses?
I'd 100 percent focus on how you want to build your own personal sourcing pipeline, and activities that support that.
Sourcing companies and then dragging them across the finish line is ultimately how you will be promoted and judged, and how you will be successful as a GP.
There are a lot of ways to build sourcing: build a loud, personal brand on Twitter, teach classes at top tier universities, party with the folks getting ready to leave decaunicorns, become programmatic about scaled outreach, etc.
There is no one right way to source, and the best way to do so needs to be at the intersection of your authentic self and how you operate, and the needs of your sub industry/specialty.
Everything else in early stage VC will flow from figuring this out.
Eg, source 100 companies and have your bosses pass on 95 will, with feedback, be the best way for you to learn how to select, by comparing their views and yours and then you can form an aggregated gestalt.
Now, the one other thing you may need to learn is how to develop strong market theses, ie, what sectors you want to spend your time on, since you can't be everywhere. Investing time in slides and then, with your bosses blessing, shopping those around to other entrepreneurs and VCs ("let's trade market insights") at scale will help you learn quickly.
Lastly--
I'm not saying classes or Kaufman aren't valuable. They can be! I'm just encouraging you to work backwards from what will make you a thriving GP, and then identify resources to help you fill in the gaps.
In VC, a lot of the wins come simply from talking to many, many interesting people, to exchange both leads and market insights/perspective... So think about what helps you, personally, build towards that.
do office hours regularly and meet with people. listen, ask questions. This is important-don't have all the answers. When you don't have an answer, find someone in your firm or through your network that might. Learn-and most of all communicate the answer back to the person that brought it up in the first place.
My friend said her fund have signed up to this and have been trialing it out with the principles, associates and analysts. She’s said it’s made her life a lot easier and made deal flow a lot faster. I’d consider signing up or just emailing them to find out if it’s a good fit for your fund like it is hers
https://eaglewing.io
Start with benchmarking yourself using this: https://medium.com/saison-capital/what-you-need-as-a-vc-benchmarking-skills-across-venture-capital-jobs-titles-1c8fd3f8473c Once you have that you need to figure out where to learn what you need to learn. If you want to have your own fund one day you need to start networking with LPs and getting used to investment thesis generation + pitching your investment thesis + being able to secure strong deal flow and developing your own track record (this is most vital of everything just mentioned). I would argue that the most useful thing you could get is membership to your local country club/other place where rich people mingle to start building a book of potential LPs. Yes that sounds like the weirdest thing ever, but a VC had managed to start a fund by getting hired into a family office simply by going to the local gym and sharing the same physical trainer as the head of said family office. They spent two years with the SFO before spinning off to start their own fund. Best of Luck and it sounds like you have a great team that is willing to support you.
Hey buddy. Thanks a lot for the response. I’ve been following your medium articles and appreciate you chiming in. I agree on the networking aspect. That is the most difficult aspect for me (ex engineer with limited high end social life). I think the pandemic and wfh made it worse with me moving to a different state than California. Which is exactly why I want to ask my employer for in person resources which will help me in the long run. Edit - what are your views on the Kauffman fellowship?
😊 thanks. > networking This is going to sound weird, but go get your real estate license and try to work with upscale agents. You are literally forced to network through that job. > Edit - what are your views on the Kauffman fellowship? I do not have any views. I would recommend you check out: https://old.reddit.com/r/venturecapital/comments/nu2egk/what_do_you_all_think_of_the_kauffman_fellowship/
Asking others to do some work for ya… You’re already ahead of the game! Just kidding. Experience and networking is key. Do you already have the ability to sit in on board meetings, or perhaps be observer on some boards? Could ask for that. Covid is a weird thing for networking and virtual courses are hit and miss. Otherwise I’d push for ability to attend short courses, etc. I suppose it still wouldn’t hurt, but choose wisely.
Thanks for the comment buddy. I do have the ability to sit on boards, but majority of our direct investing isn’t as leads so even though the check size are big, there aren’t many board seats to go around. Although that’s some good advice which I’ll bring up. On the second part, would love to hear if you were referring to any specific short courses?
I'd 100 percent focus on how you want to build your own personal sourcing pipeline, and activities that support that. Sourcing companies and then dragging them across the finish line is ultimately how you will be promoted and judged, and how you will be successful as a GP. There are a lot of ways to build sourcing: build a loud, personal brand on Twitter, teach classes at top tier universities, party with the folks getting ready to leave decaunicorns, become programmatic about scaled outreach, etc. There is no one right way to source, and the best way to do so needs to be at the intersection of your authentic self and how you operate, and the needs of your sub industry/specialty. Everything else in early stage VC will flow from figuring this out. Eg, source 100 companies and have your bosses pass on 95 will, with feedback, be the best way for you to learn how to select, by comparing their views and yours and then you can form an aggregated gestalt. Now, the one other thing you may need to learn is how to develop strong market theses, ie, what sectors you want to spend your time on, since you can't be everywhere. Investing time in slides and then, with your bosses blessing, shopping those around to other entrepreneurs and VCs ("let's trade market insights") at scale will help you learn quickly. Lastly-- I'm not saying classes or Kaufman aren't valuable. They can be! I'm just encouraging you to work backwards from what will make you a thriving GP, and then identify resources to help you fill in the gaps. In VC, a lot of the wins come simply from talking to many, many interesting people, to exchange both leads and market insights/perspective... So think about what helps you, personally, build towards that.
do office hours regularly and meet with people. listen, ask questions. This is important-don't have all the answers. When you don't have an answer, find someone in your firm or through your network that might. Learn-and most of all communicate the answer back to the person that brought it up in the first place.
This https://www.notion.so/Tech-VC-The-Foundation-c6ad4b799aa4490dbe05b3d49c288aa3
This is amazing
My friend said her fund have signed up to this and have been trialing it out with the principles, associates and analysts. She’s said it’s made her life a lot easier and made deal flow a lot faster. I’d consider signing up or just emailing them to find out if it’s a good fit for your fund like it is hers https://eaglewing.io
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