{ "media_type": "text", "post_content": "If you had an opportunity to leave a well paid Growth PE role (senior associate) and move to start a VC fund as a founding partner (with committed capital), would you take it?", "post_id": "5f67b32195a478001ae532e5", "reply_count": 13, "vote_count": 5, "bowl_id": "553769a790f5eebe1d2a0f92", "bowl_name": "Finance" }

If you had an opportunity to leave a well paid Growth PE role (senior associate) and move to start a VC fund as a founding partner (with committed capital), would you take it?

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If you believe in your ability to drive deals and returns, I would absolutely do it. I’m only an associate myself, but I always look up to young partners and dream (I specifically like greylock, Brookfield Growth, and G2VP, but there are loads more that are up and coming). Think about the experience of (1) building a portfolio with your own hands, (2) standing by your own track record, both good and bad, (3) putting together your own fundraiser for your second fund, (4) building a team around yourself. You could do all of those things at your current firm, but you would most certainly take a backseat to an existing partner who wants to build their own name. And I assume that, if you’re asking this question, you know for yourself that you need to make this move if you want to build your own practice. The flip side, of course, is the tremendous amount of risk that the fund doesn’t pan out. Most first-time funds don’t raise a second one. But how much of a risk is that, really? You busted your ass, had 1-2 homeruns, but at the end of it you couldn’t save the whole fund. I can imagine a response in future interviews and conversations with the startup CEOs you’ll invest in: “I took a leap of faith and failed, but I’m so glad I did. I learned more in those 5-7 years about investing than I did in my previous ten. I’m not discouraged by it and I’m looking forward to applying the lessons I learned.” I think partners and portcos alike will look at you differently. Heck, I’m excited for you just thinking about it. If you’re open to it I’d love to talk to you about it more. I hope I find myself at that crossroad in a few years.

likeupliftinghelpful

Thanks for such a detailed reply. Can’t discuss any specifics yet, but feel free to send me a DM

With capital outside of friends and family? Yes take it, if it’s personal capital, no.

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Going to need a lot more details

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Would go for it if you have faith in yourself. Opportunity cost is relatively low

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It all depends on your personal finances. If you can afford to take the risk take it. Also do a pros and cons chart. I find those help.

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Depends on what you want to do and how much money you have saved up.

No, stick where you’re at especially if you have a career growth path and firm has stability. Chasing smaller firms for bigger paydays doesn’t usually work out successfully and you’ll end up back on the street looking for work.

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