Three Years of Venture Upward
Read these dozen posts first, or read them again.
When we originally started this Venture Upward Substack, our vision was to create a resource for non-partner VCs working their way through the ranks. In the past three years, we’ve penned over fifty articles on this topic, aiming to demystify a venture capital career path with insights and practical advice for investment professionals.
With many current readers having subscribed recently, I thought it'd be helpful at this milestone to compile the best and most popular posts to date. The following twelve posts represent a diverse range of topics crucial to understanding and excelling in VC. They cover deal dynamics, career strategies, compensation, and industry best practices, serving as an introduction to the blog for newer readers or an important refresher for veterans.
Avoiding Cynicism - That negative feeling will creep into your brain, but don't let it find a home. Practical advice on cultivating a positive mindset, essential for navigating the ups and downs of venture capital.
Time Kills All Deals - Be vigilant throughout the entire investment process until the money has been wired. There is urgency and unpredictability in deal-making, with the need for speed and constant engagement to prevent deals from falling through.
The Role of Diligence - Evaluate and confirm, but don't confuse the two. Exploring the critical distinction between confirmatory and evaluative diligence in venture capital, highlighting the importance of strategic assessment in investment decisions.
Stay Hungry - VC can offer a great lifestyle, but don’t let it get to your head. Emphasizing the importance of maintaining drive and tenacity in venture capital, avoiding complacency in a comfortable yet extremely competitive industry.
Your Three (or Less) Jobs in Venture Capital - Break in, upgrade your situation, and find your forever home. Strategic career moves in VC focus on entering the field, advancing effectively, and ultimately establishing a lasting position.
Compensation - Talking about the thing that nobody talks about. The opaque topic of compensation in VC with a look at carried interest and how it shapes the dynamics within a firm.
Putting Points On the Board - How to think about making forward progress. Strategies for rising VCs to demonstrate value, focusing on deal flow, partner alignment, and making impactful contributions to investment decisions
You’re Not Really Getting Paid Anytime Soon - Get used to it. The rewards in VC are slow to arrive - that’s normal and to be expected.
Whose Fund is it Anyway? - The “secret” way to find out who is really making investment decisions at your firm. Insights on identifying the true decision-makers beyond just external titles.
When To Jump Ship - VC is a game of patience, but it's likely you won't spend your entire career at one firm. Guidance on recognizing the right time to change firms.
Become Known for Something ASAP - Without a reputation, you're just another VC. The importance of building your own personal brand.
The Second Rule of Venture - Don't lose your seat. After breaking into the industry, the most important goal is to stay in it.
Writing Venture Upward has been a gratifying experience, assembling my thoughts into concrete ideas. However, the most rewarding part has been connecting with readers through comments, private personal email exchanges, and most importantly, through the real interpersonal relationships which have developed. I value each one of them. Along those lines, we always welcome feedback about both what’s written here along with what should be written here in terms of topics to be discussed. Let us all venture upward, continuing on this journey in the years to come.