I’m being offered a role that on paper is “investment manager” and everything on it is about doing market research and DD. But I just had a call that it would be requiring a sales quota monthly and bringing money in the door for each deals as well as the research side. It’s secondaries market VC. Am I being shafted?

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Yes

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Yeah but if you’re trying to do growth equity or late stage venture a lot of it will be sourcing

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What is the quota? Are you being told you need to source $X amount of closed investments each month? Or you need to raise $X from co-investors / banks to then be invested? Or you need to find X number of potential opportunities for the deal team to diligence? A bit confused as to what your quota is but echo IBA1’s concern that you might be being lined up to be a cold call sourcing robot which is very common in growth equity and not a good role for most people.

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But I’m sourcing from the investor side on spv deals. Not sourcing from the company. I’m not sure if that’s a usable skill set in a future in VC late stage

That’s what an investment manager does

Yeah i would sourcing $xx capital from investors with quotas set quarterly.

Okay I think I understand now. If your job is to go take the investments your firm already made and go find secondary investors to sell equity to, that doesn’t sound great to me because you’re not actually involved with making the investments in the companies. You’d need some business knowledge in order to understand and pitch the investments to the secondary investors, but it’s not the same as a standard primary VC role where you’re actually on the ground finding founders and cutting deals. I’d guess you’d be a second or third class citizen to the actual investment team...

How big is the fund? I know a lot of smaller fund where people wear multiple hats - in this case, sourcing, due diligence and fundraising.

Frankly, getting a well-rounded skill set may not be a bad thing. Fundraising is a critical part of alternatives and because it’s very “sales-y” gets a bad rap but it’s a solid role that can get you plenty of $$, especially if you prefer networking and socializing more than analysis.

Yeah completely agree with you.

Mostly it’s deal per deal SPV style with several small funds focus on thematics. About $100-200mm. They seem to be both a broker and investment firm. Secondary market focus.

It’s both a sell side and buy side type role, which makes me hesitant on what I’m getting into.

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*Any resources to research salary expectations are appreciated*
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Tired of client work? Come join our internal Innovation and Tech group @ PwC! We've got positions open for associate-manager in the Data Analytics team for Risk Assurance where you're not expected to have clients, it's fully remote, but are still aligned to the practice, so compensation and promotion timing are equivalent to those with clients. Will split referral bonus 60(you)/40 - up to 10k for a sr. Assoc. DM me if interested!

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Urgent::,🙏🙏🙏
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Hi,

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