Just like any other type of career, working as a venture capitalist could be risky. It has some downsides such as loss of control, expensive, and diminished ownership that might not please you in the first moment you try to be a venture specialist.
“As I became a venture capitalist, it is almost like I went to the dark side for a while.” – Luke Nosek
Nonetheless, besides its disadvantages, venture capital is a promising job. Sibel Buyukbaykal, head of strategy and partnership at BrickX, said that it is a cool gig as you can control large amount of capital and earn nice bucks of change in return. Additionally, you can connect to brilliant-minded founders and develop your skills as futurist. If you want to build your own business, your know-how as a venture capitalist could help as you have learnt meaningful lessons from successful startup owners.
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As a venture capitalist, you will be responsible to source new deals and support existing deals. Given how crucial your role is, a venture capital firm does not hire mere skilled people. You need to build certain skills in order to be amongst successful venture capitalist. According to 8VC, you should have these skills before dare yourself to be a venture capitalist:
o A middleman skill to raise and allocate capital that benefits society as a whole.
o Structuring and closing deals skill to ensure that deals involve fair terms with no trickery to both company and venture company.
o Macro analysis investor skill to understand historic technology as well as predict emerging waves.
Community builder capitalist
o Network connector skill for sales, customer feedback, and business development.
o Talent resource skill for hiring as VC helps portfolio companies hire top talents.
o Brand creator skill for company and firm to build a relevant community.
o Technology consultant skill to provide support as today’s VC needs to be able to counsel portfolio companies in terms of data science, etch architecture, and design thinking.
o Leadership, management and strategy mentor skill as venture capitalist also serves as advisory role to budding CEOs.
Apart from those skills, there are other requirements you should meet when you are aspired to be a venture capitalist. Sean Owen, data science lead at Databricks, commented that to be a venture capitalist, skills alone does not enough. While an MBA degree is not required, you should have entrepreneurial track record. Also, the most valuable skill or background is not MBA or finance but a consulting skill set for industry background.
Paul Cohn added a couple qualifications for open positions at VC firms. In addition to skills mentioned above, you should also have approximately 3-5 year work experience as a tech start-up founder, sales, business development person, or tech journalist. “Deep understanding on networking, strong interpersonal skills, and founder empathy are also needed,” said Cohn.
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