风险投资Job Description

风险资本（VC）是private equity，公司或个人在早期公司进行投资，并通过某种指导来帮助他们获得成功，以换取公平。The individuals who run these firms or make these investments are called venture capitalists.

A job in venture capital is highly sought after and very difficult to obtain. Successful professionals in this field tend to have graduated from top schools, completed Master's degrees, and have professional experience. Hence, candidates are expected to have significant knowledge of financialmarkets，，，，business management, emerging technologies, and current industry trends.

Those involved in this field typically have extensive professional networks that they can leverage to attract both investors and find investment opportunities. In addition, in many cases, those in venture capital are entrepreneurs who have already started their businesses and know the work required to build a successful business.

To break into theVCindustry, a candidate must be committed, driven, hardworking, extremely knowledgeable about a variety of subjects surrounding business, management, and technology.

Typically aVCfirm has the following job titles in the order of seniority (highest to lowest):

• 普通合伙人
• 初级合作伙伴
• Vice President (VP)
• 高级合伙人
• Associate
• 分析师

这些工作涵盖了一系列责任，重点是寻找投资和投资者。大量时间VC花在寻找有前途的新公司并研究新技术和趋势的情况下。

Juniors in this industry spend a considerable amount of time researching these new companies, creating financial models, and assessing the feasibility of companies' business models.

尽管风险投资通常会非常成功，但大多数投资都有很长的时间范围，这意味着他们不会在很长一段时间内获得盈利。因此，如果短期投资和快速支出很有吸引力，风险投资可能不是正确的行业。

What is Venture Capital?

风险资本公司是私人股本公司那t invest in relatively new companies and startups with high growth potential. They invest a large portion of money in the startup in return for equity and often provide other resources to the small business to help it grow.

VCfirms hope to "get in on the ground floor." The companies they invest in have yet to grow into large companies; hence, they can buy a large portion of equity at a relatively lower cost.

这些investments are also very risky because the companies being invested in usually are yet to establish themselves and could fail for various reasons. For example, outside competition could increase and squash early concepts. Companies may not generate demand for their products or may struggle to expand due to insufficient capital. Most companies that venture capital firms invest in produce little to no return and often fail.

风险投资领域由两个关键参与者主导：VC公司和天使投资者。

VC公司的运营与其他私募股权公司类似，管理投资者资金池并使用它来进行投资，尤其是在年轻公司中。这些公司有一群人从事分析公司并进行公司绩效的预测。由于公司与财务历史记录很少的公司打交道，因此他们倾向于专注于业务战略和业务模式，想法和长期关注，而不是研究过去的业务绩效和短期增长。

另一方面，天使投资者通常是个人或一小群投资者，他们使用自己的钱，而不是投资者的钱来投资于早期企业。

一家早期公司必须筹集资金以资助其运营和增长，这通常是在资助回合中发生的。

在公司拥有任何实际的财务状况之前，就已经进行了播种的资金回合，并且刚刚开始。公司的创始人或通过家人和朋友的贷款通常提供预付款的资金。

种子资金是早期的公司资金。在此阶段的一家公司仍然没有财务历史记录，需要为早期工作（例如产品开发和人口研究）提供资金。这一轮可以由朋友和家人或创始人资助。在此阶段，天使投资者也可能在资金中发挥作用。

A系列资金是在公司变得更加发达的时候，通常有一些财务报表可以呈现，但仍需要资金来进行运营和扩张。两个都VCfirms and angel investors typically invest at this stage.

Series B and Series C funding typically include companies beginning to establish themselves but may continue to be unprofitable or need money for expansion. For example, many tech companies struggle to create breakthrough products and need to expand to mass-produce their products before becoming profitable. Usually, these funding rounds are characterized by a greater variety among investors, such as other companies,investment banks，，，，对冲资金，，，，venture capital firms, and private equity firms.

风险投资最近已经大大增长。2021年，风险投资支出为6430亿美元；与上一年的3350亿美元相比，年龄增长了近92％（逐年）。此外，2021年创建了480家独角兽，这些独角兽是私人公司，通常是早期初创公司，其估值为10亿美元。它们占所有独角兽的51％。

How to Become a Venture Capitalist?

Although there are a few established ways to do it successfully, venture capital is a very difficult career to break into.

VCfirms rarely hire recent graduates. The only way to break into venture capital as a newly graduated finance professional is to graduate from a target university with a 4.0 GPA and internship experience from top firms or startups. Even then, a candidate will need a lot of luck, a good network, and a lot of drive to make it.

Often, a job inVCout of undergrad is not the opportunity it is glamorized to be. There is very little training and less modeling work than other industries, and it may be difficult to acquire very desirable skills in such a setting. There are also fewer exit opportunities in this field, and it could be beneficial to gain experience in other industries before joining venture capital.

More likely, a successful candidate will have a bachelor's degree in economics, finance, computer science, or a field associated either with finance, entrepreneurship, or technology. In addition, they will often need to spend time in investment banking, corporate finance, or management consulting.

候选人至少应该拥有一个可靠的专业网络来表现出色VC。It could also be a good idea to pursue aMasters in Business Administration (MBA)，这可以增加候选人的资格，甚至可能是一个很好的网络机会。此外，这可能有助于增加加入公司作为同事并有可能提高队伍的机会。

Another way to break intoVC是成为一名企业家。VC公司在很早的阶段一直在寻找公司，因此企业家精神是关键因素。通常，成功的企业家非常擅长认识成功创业所需的成分，并知道开展业务所需的成分。

VCfirms also usually assist the up and coming business, where already successful entrepreneurs can be very helpful in lending support to new companies.

The only clear thing is that there is no single clear way to break into venture capital. There is no traditional way to get a job in venture capital because it is not a very traditional role. While number crunching and financial modeling are still very present,VCis much more speculative, so it takes a keen eye and a special skill set to make it.

If one thing is for certain, it is that one has to hustle to get a position. To have a shot, a candidate needs to be committed, driven, aggressively pursue networking, and hopefully meet someone at aVCfirm who can offer a position if they're impressed. In addition, they should be:

• Big on reading and writing
• 了解新公司和新兴技术
• Writing about new companies and finance

在风险资本中将其置于良好的联系中。您将通过参加会议，注册新闻通讯以及关注初创企业的新闻来了解新的初创公司和机会。此外，您应该有一个有机会与之合作或投资的想法清单。

It is no easy task to get a position inVC。为了有机会，候选人需要花很多时间和时间。

What Does a Venture Capitalist Do?

风险资本家的工作是确保公司的投资产生高回报并最大化增长。此外，成功的风险资本家将能够确定新的创业机会，评估这些想法的可行性，然后充当天使投资者或领导对新业务的投资。

作为风险资本家，您所做的事情取决于您的角色。

An analyst will be doing most of the work with numbers. As a result, their work will include a lot of research, due diligence, and the creation offinancial models。To make a good impression as an analyst, it may also be a good idea to attempt to source deals and find entrepreneurs and promising new companies to invest in.

员工仅比分析师一步一步，很可能会承担一些责任。该角色的工作包括进行大量研究和研究数字。这也很可能是合伙人的责任，以获取交易并找到新的公司进行投资，这将需要大量时间，并涉及研究新兴技术并利用广泛的专业网络。他们也可能与已经在公司中的公司合作VC公司的投资组合，并帮助他们取得成功。

高级职位可能包括几个不同的角色。例如，高级职位VCinclude senior associate, VP, junior partner, and general partner. The general partner in aVC公司通常被称为风险资本家。

People at these senior positions spend a considerable amount of time consulting entrepreneurs, searching for deals and promising new companies, and talking to industry professionals. These positions are also likely to be heavily involved in assisting companies within the VC's portfolio to succeed.

VC公司的工作职能与财务其他许多工作不同。而不是财务建模和分析财务报表taking up the bulk of work, the majority of time will likely be spent searching for new companies, recruiting investors, analyzing technology trends and emerging markets, and connecting with entrepreneurs. Indeed, in many cases,VC公司可能在企业家本身上投资于企业家。

As with other investment types, due diligence and financial analysis still play a large and important role inVC。VCfirms also help assist the firms within their portfolio. Below is a helpful video from our Venture Capital Modeling course.

要作为成功的风险资本家，您必须评估机会并做出明智的业务决策。一位成功的风险资本家将了解不同公司的优势和劣势，在短期收益之前优先考虑其长期成功，并不断监视其投资组合获得新的机会。

In addition, they must have sound knowledge of business strategy and business fundamentals to grow their company's profits. They must also have excellent written and oral communication skills easily translated into presentations, webinars, and investor pitches.

虽然在许多情况下非常有利可图，但风险资本不是获得富裕的方案。Often the time horizons of investments are very far out, and paydays may not be right around the corner. Most of the companies in aVCfirm's portfolio tend to fail.

因此，很多VC公司从管理费中支付基本薪水和奖金，这是该费用的百分比资产在管理下，并获得一定比例的利润。通常是“两分和二十”的费用结构，在管理资产中收取2％的管理费，从利润中获得20％的费用。

The video below from our free Venture Capital video course explains the "two and twenty" fee structure in better detail:

分析师s and associates can expect to be paid anywhere between $80k to $100k, while more senior positions can make in the low six figures. Typically the general partner can secure a salary of $200k or more. While these salaries are standard, the real money flows when the company can bag a big profit from one of its investments, although most of this profit usually goes to the general partner.

A day in the life of a VC partner

就像任何职业一样，风险资本家的工作日常也有所不同，尽管随着时间的流逝，他们的职责常常相似。以下是生活中的一天，证明了如何VC伴侣分配时间。

7:00是- 尽管早晨是喝咖啡并阅读有关技术新闻和新公司的好时机，但工作可能要等到以后才开始。

8:30是- This is when the day starts. After getting comfortable at their desk, a partner will spend some time sifting through the news about emerging tech companies and new technologies and sifting through yesterday's research compiled by analysts and associates.

10:00是- Answer and send emails. A significant part of aVC工作正在管理他们的网络，与其他人交谈VCS，与潜在的投资者接触，与各种企业家和公司接触潜在的投资机会，并与企业家的参考联系，以了解他们是谁，他们的业务更好。

A large part ofVC正在寻找公司的负面方面；如果他们与一家公司联系，则意味着它已经看起来很有希望。然后，这项工作需要找出他们的前途：

• 寻找negatives
• Talking to people within the particular industry
• Seeing if there is demand for their product
• 检查客户评论
• 寻找竞争对手，看看这是否是一家好公司，还是竞争对手会是一项更好的投资。

12:00 PM- 去和其他VCS。这可能是午餐“休息”，但这是工作的一部分。这些VCSmight be friends and work very closely together, but this is a good time to talk about various co-investment opportunities, recommend various companies, and share news.

VCfirms may be less competitive than they are cooperative. Usually, aVCworks with several otherVCSto invest in startups together, spreading risk among multiple firms and indicating a better investment if moreVC公司愿意投资于此。

下午1:30——与创业者for a potential investment. Get to know the entrepreneur and team as much as the business model and look for potential problems within the company.

3:00 PM- 与公司会面VC公司的投资组合，并为他们提供任何问题。给他们联系，以帮助他们获取有关创业方式的信息及其运营的信息。建立的风险资本家将大部分时间都花在帮助其投资组合公司的情况下。较少建立VCpartners may spend more time networking and looking for new investment opportunities.

6:00 PM- Meet with the rest of the team: exchange research and interesting news and potential companies. Give analysts and associates interesting topics, products, or companies to research.

下午7时00- End of the workday. May meet with moreVCSfor dinner or head home for the day.

Many days include other networking events such as tech conferences or product launches that aVCpartner can attend and meet people at. Other days include travel or meeting with potential investors. Above, however, is what a typical day may look like in the life of aVCpartner.

VC与PE

Despite being a type of private equity, venture capital and other private equity firms value companies quite differently to make investment decisions. People at both places also tend to have very different types of days

Private equity is simply investing inprivatecompanies or taking them private by purchasing流通股。反对上市公平，，，，which would be any stock available on the stock market to typical investors.

The biggest difference betweenVCand other types ofPE是他们投资的业务阶段。通常，一家私募股权公司投资于已经建立财务并可以根据过去绩效进行公平分析的公司。

In addition, these companies have already established a market and an audience and have a product or service that generates positive cash flow. Common examples of private equity are leveraged buyouts (LBO), distressed funding, and资金资金（FOF）。

另一方面，venture capital firms invest primarily in startups in the very early stages. In many cases, these companies will not have solid财务报表并且尚未获利，甚至释放产品或服务。

通常，it is hard to value these companies by analyzing financial history alone. Instead, venture capitalists consider the underlying business strategy, product, and in many cases, an investment in the company is just as much an investment in the entrepreneur themselves. In many cases, exit opportunities are also greater atPE公司比VC公司，作为工作类型PE与其他行业更相似VC。

VC公司的成功投资比私募股权要少得多。但是，那些成功的人会产生比大多数私募股权投资更大的回报。通常，PEfirms take much greater shares of公平，甚至100％。

另一方面，VCfirms typically invest in groups and take less equity in a company to lower risk. Even with this being the case, mostPE企业总体上赚了更多的钱，它可以付出更多PEfirm than aVC公司,除了为VCpartner.

U/ThatOtherGuy，一年级合伙人VCfirm, describes what they feel are major differences betweenPEandVC在这一点forum thread。

他们觉得薪水要差得多VC比PE;但是，生活方式可能会更加有意义。大部分工作VC可以包括与企业家的晚餐，参加技术小组以及去产品发布。PEandVCmay share the same number of hours, but "the work itself can feel more like a lifestyle if you enjoy it." they say.

Aside from lifestyle, they say that the corporate ladder inPEis much better defined, and sometimes a career path is difficult to navigate inVCand can feel much more stalled than inPEif one isn't able to utilize their network effectively.

VC与IB

Venture capital and万博app网页版不乏差异；业务模型和工作截然不同。这两个专业之间的一些主要差异在下面分解。

投资银行业务有一条更直接的途径。万博app网页版风险投资很难闯入，尤其是在刚毕业的时候。一旦进入投资银行万博app网页版业务，也有一个更明确的公司阶梯。很容易理解何时促销以及候选人攀登公司阶梯的期望。

数小时也在投资银行业务中艰难，这使它与众不同万博app网页版VC。For example, investment banking analysts often work 80-100 hours per week and must be on call 24/7. For this reason, investment banking pays substantially more thanVC，可能是金融业几乎任何行业的最高薪水。

Investment banking does not involve investing in startups. Often an investment bank will provide financing to private equity firms through theirleveraged finance (levfin)division; however, they typically do not invest in young companies.

相反，投资银行在很大程度上关注的是协助其他大型公司进行主要的金融交易。其中一些服务包括manbetx 2.0下载合并和收购，，，，initial public offerings (IPO)，，，，重组和杠杆融资。

This also changes the type of work being done considerably. Those in investment banking spend a much greater amount of time working, and it involves more grunt work thanVC。

A person starting out inIBis usually expected to perform a large amount of financial modeling and research and crunches a lot of numbers. They also spend a lot of time creatingpitch books和演示。

这项工作比数字要大得多VCas investment banks work with established companies that have a plethora of financial history and can be much more reliably valued and forecasted than inVC。This also requires a lot of modeling and working with numbers because they are assisting in large financial transactions that can be extremely complex and require a lot of due diligence.

Additional Resources

WSO是财务专业人士财务建模课程的领先提供商。为了帮助您发展职业，请查看以下其他资源：manbetx3.0手机客户端

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