My 1st year in VC
Wow, what a difference a year can make!
One year ago, I was jobless, having left a well-paying corporate job where I felt stuck, knowing only that I wanted to work in venture capital (whatever that was).
People kept telling me I would never get in. Blogs I read painted a bleak picture and likened landing a VC job to trying to become a professional athlete — I wasn’t deterred, rather I was curious, more determined and continuously excited.
I had been at it for a while unsuccessfully and as I discovered, I couldn’t rest on (what I thought were) my laurels but had to bring back that old hustle from earlier days as a startup operator.
I read everything on the industry I could get my hands on, spoke to anyone that had a VC (or VC-adjacent) job that would listen, and did a couple of online courses on the fundamentals. One of these ultimately led to a first job opportunity. And the rest was history… 6 months at 37Angels, a NYC angel network, led to an opportunity at Panache Ventures, a premier Canadian VC — where I’ve now found my home.
As anyone in VC will tell you, this world is so fast-paced it’s like a time vortex — 12 months goes by in a blink. So, I wanted to take a moment to pause and reflect on this past year, while sharing some of my biggest takeaways, experiences and surprises so far. Here goes:
1. Landing a job in VC is HARD (see above)
You need patience, persistence, hustle, but most importantly, an agile/iterative startup mindset. As for many others, the biggest turning point in this pursuit was when I stopped being focused on getting the job, and started focusing on solving the question “how does VC actually work and why does it excite me?”. From there, I began iterating on my approach, messaging, market thesis, communication style and more. As in the startup world, if you are customer and problem obsessed, you will build a better product and your rewards will follow.
2. VC is AWESOME
The more I learn about it, the more I get hands-on, the more I love it. I get to learn from incredible founders, and work with an unbelievable team. I feel like the least smart person in the room at Panache and I love it. VC has felt like the first natural job fit for me in my career in a never-ending pursuit of purpose — a lifelong generalist and student’s dream.
3. Founders are simply INCREDIBLE
There really is a magic that the best ones possess to humble, inspire, educate, and captivate you all at once! It is an honour to share the field with them, and I’m in awe of what they do everyday. If we are indeed a product of the people around us, then I think I’m in pretty good company.
4. My non-linear career path has actually been a STRENGTH
I’ve worked in NGOs, startups, and Big Corporate. I’ve worked in all sorts of industries from Telecom to Supply Chain. I’ve held roles in Marketing, Strategy, Operations, Finance and Product. I’ve always navigated my career not in the pursuit of salary or title, but rather knowledge and learning. In the end, these experiences have actually prepared me for the extremely multi-faceted and multi-disciplined nature of venture. I thank my former self for not taking the easy or obvious path.
5. Nobody knows ANYTHING
It’s kind of hilarious to say but as smart as everyone is (and there are some really really brilliant people), at the end of the day, everyone is essentially speculating. While I sort of knew that was true, it’s pretty funny to see it play out. The VC investor mindset is fickle, and unfortunately often guilty of group-think — in my 12 short months, the market dynamics have gone from seller-leverage to buyer-leverage, went from hype about web3/crypto to generative AI, went from fast deals at high prices to slow (or no) deals at low prices. What’s next? If anyone is being honest with themselves here, they would utter Socrates’ creed “I know only that I know nothing”.
6. Canadian and US startups are DIFFERENT
Having had a roughly equal stint at this point in both the American and Canadian startup scenes, I can say that there are some observable differences — the most notable being the growth mindset. In aggregate, American founders are unabashedly bold and think really really big. Their aim is to build the best company on a global scale. Canadians are often a little more modest and at times focus on results that are a local success. On the other hand, with that more Canadian modesty comes more coachability. I’m not trying to make blanket statements here — there are obviously variances on both sides — and this is also changing over time. That said, these differences have been quite interesting to me and probably a consequence of centuries of socio-economic culture that I won’t get into here…
7. Paying it forward MATTERS
It’s no secret that venture capital is extremely fast-paced where one has to manage many competing priorities in a fairly lean, startup-like team. Time is your most precious resource and you are constantly its guardian. That said, it is the biggest currency you have — and in a relationship-based business (where you need to play the long game), it’s important to give your time to those around you. You never know who you will do business with one day. When I was an eager nobody reaching out to folks in the industry for Zoom chats more than 12 months ago, several took the time to meet with me, share their knowledge and hear my story. Today, many of them are now colleagues and peers.
As someone with a thirst for knowledge, there is nowhere else I’d rather be to satisfy this intellectual craving. The learning has just begun and I can’t wait to see what’s next.
If you are considering a move into venture or have been at it for a while, I encourage you to remain patient, open and curious — let your intellectual curiosity guide you to purpose.
