How to find a job in venture capital
Why work in banking when you could work in fintech and why work in fintech when you could work for organizations that finance fintech?
That was Apollo’s pitch to potential employees on its Investor Day this week. – “Not a single fintech wants to be a balance sheet,” said Marc Rowan, CEO of Apollo. “They all want to be toll handlers.” Apollo is a balance sheet, Rowan said, and he will use his balance sheet to fuel the fintech industry: “We will provide them with capital. We will take stakes in their companies and we will benefit from the toll alongside them.”
Apollo is teaming up with JPMorgan’s former head of commodities, Blythe Masters, in this venture. Master now works for Motive Partners, an investor specializing in financial technologies. Together, the two will form a “growth and equity, fintech investment powerhouse “with the Apollo fin and Motive technology creating a” fintech killer app, “Masters said. It runs in the family. – His daughter, Honor Masters, held various fintech and crypto VC positions after leaving Morgan Stanley and is currently completing an MBA at Columbia Business School.
It’s the blue chip route, and Apollo and Motiv are actually a blue chip investment firm. But what if you don’t have those big names on your resume and start smaller?
Speaking at this week’s Black Tech Fest, Atomico investor Terese Hougard said it can be difficult to enter the venture capital industry if you have a slightly different background. “I was said I had to work for Goldman Sachs or McKinsey if I wanted to work in VC, âTherese said. âInstead, I took a job at Google. And then one day an email came to my inbox about a project on one of Google’s investment funds … It turned into a full time position and I moved to San Francisco for five years to work for them. “
While some people turn to venture capital after a career in banking, many don’t. Ladi Greenstreet, UK head of Accenture Ventures, said he spent time working in Silicon Valley and consulted with start-ups before joining Accenture. When he joined Accenture, Greenstreet said he helped persuade them to work with start-ups rather than larger established companies.
If you are from a minority background and want to work in venture capital in the UK, another alternative is the Newton Venture program, which aims to diversify the venture capital industry. Applicants need two years of professional experience, which can come from any industry. Speaking at Black Tech Fest, Newton Venture director Lisa Shu said they were focusing on “overlooked and underrated groups.” Newton’s attendees are part of a community that allows them to thrive and not just survive in the venture capital industry, Shu said.
If you are pushing for a first job in venture capital, Hougard said the most important thing is to show that you are passionate about the startup ecosystem. âWe are looking for passion, conviction, enthusiasm and really want to work in this space,â she said.
Greenstreet said if you have a thesis on the next big thing, then develop it and pitch it to potential employers. âWrite it down, gather the evidence and prove the thesis is real,â he said. You might be right, and even if you aren’t, your evidence-based belief could help you find a job in venture capital.
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