How to land a job in Venture Capital or Private Equity in Nashville?

As one of my friends recently put it, “the job search for VC or PE is like playing musical chairs…a lot of people are looking, but there only a few spots and they are rarely open.”

Since I work at a VC firm in Nashville, I often get asked the question above. Here is a summary of my advice. The following is a three stage approach that includes some specific tactics to help you land a job at a PE or VC firm in Nashville.

Step 1 — Learning about the Nashville Investor Ecosystem

Before beginning the networking process, it’s vital that you learn the lay of the land of the Investors in Nashville. This will be beneficial to you in the networking process by making you look informed, intelligent, and by showing whoever you are meeting with that you care enough to do some homework. Doing research beforehand will help you figure out who you want to network with and what firms you might want to reach out to directly.

Our friends at Rond Capital created this infographic showing the landscape.

A Guide to Nashville’s Investor/Startup Resources

Organizations

Entrepreneur Center — The new nexus of startups in Nashville, the “EC” is known as a hub for startups, mentors, investors, and has the goal of getting as many startups off the ground as possible. Read their website to learn more and be sure to stop by for a visit or to attend an event.

Websites

The Firm’s Website — The best way to learn about any firm is reviewing their website. Make sure to focus not just on the content there, but also on the websites of each of their portfolio companies.

VentureNashville.com — Written by Milt Capps, this is the best news source to learn about the Nashville investor scene. He has written close to 650+ post over the last few years. They are extremely useful for learning about startups, investors, and the rest of the ecosystem. Also, he details fundings which is a great time to reach out directly to that company (i.e. if a VC firm has just raised $50M+ they are likely going to be hiring soon!)

Main Stream — It’s worth going back and reading a few months worth of the Nashville Business Journal, the Tennessean Business Section, and the Nashville Post.

Additional Reading

Both Sides of the Table — Written by venture capitalist Mark Suster, this blog is full of well written posts that provide amazing detail on everything from getting a job to raising venture capital.

TechCrunch — This is the Wall Street Journal of Silicon Valley. They write about tech startups all the time and reading what is going on there will tell you what is coming in the future in Nashville.

Acting on the Research

Now that you know a bit about the Nashville Investor scene, it is time to act on that research.

I recommend a two pronged approach:

1) Create a Target Company List. This should include firms that sound interesting or would potentially have an opening based on your research and places where you have contacts.

2) Create a Target Networking List. This should include people in your network who have connections within the industry as well as people that work at services firms that support startups. How you get introduced to your target firm is very important! Ideally, you can make your connection via a personal friend, portfolio company management team, current investors, fellow VC, etc. The services firms would include lawyers, accounting firms, web design/marketing agencies, professional organizations, local universities, etc.

Step 2 — Networking

Now that you have your target list, it’s time to network.

* Partners vs. Associates — While the partner is definitely the one making the final decision it is also valuable to meet with an associate or any junior member at any of your target firms. They can likely tell you what firms might be hiring and then introduce you to someone that that firm.

5 Tips for Great Networking in Nashville

1) Research the person and the firm before your meeting. LinkedIn is an amazing resource and can help you make the best use of your time. See who they know, where they’ve worked in the past, what their skills are, and also be sure to read as much about the company where they work now as possible (website and news). Also, as mentioned above, review their portfolio companies as well as their investment criteria. This will allow you to make the best use of your time instead of spending the meeting just learning the basics about what they do.

2) Be up front and tell them why you are contacting them. Random coffee or drink meetups are not as well received as a… “hey I am wanting to do this, can I come by your office and meet with you for 15–30 mins.”

3) If you are a student, unemployed, or some how have the availability, and are meeting with a a VC/PE firm that you would like to work for and doesn’t have a current opening, think about trying to volunteer to intern or work on a project for them for free. This is normally well received and often turns into a job there or at another firm where that they can recommend you. It is better to be able to talk about the project that you are working on for company X that not doing anything at all.

4) Ask for a specific Referral — Since you have done your research before hand and know who they know. Ask them introduce you to a couple specific people in the industry that you think could help you in your job search and know why that connection would be important. You will get a lot of blank stares if you ask “does anybody or company come to mind”, but a lot of great responses if you say, “I was reading about this person you know at firm X, would you mind making an intro. I know a lot about the industry they invest in because of this experience in my past.”

5) Give them a physical and digital “leave behind” — If someone at a VC/PE firm is nice enough to meet with you or even to refer you to someone else then empower them. This can take form of a copy of your resume with a note on it detailing the specific type of roles that you are looking for. I would recommend giving them a copy in person as well as sending them a copy they could forward to someone else if needed. This will help, when in three months a friend says to them I am looking to hire someone to do X…if they have a copy of your leave behind you will be at the top of their list.

Lastly, show your southern hospitality. If you meet with someone, send them a follow-up thank you via email or even better a handwritten note.

Staying on the Radar

One of the key things that is often over looked after your networking meeting is how to follow-up. I call this “staying on someones’ radar”. The goal for you is the be the first person that comes to mind when they, or someone in their network, has a job open up at their company. Keep in mind that people like you met with might take 1–4 networking meetings each month, which means if it has been three months since you met with them then you are likely #4–13 on their list of people that they remember is looking for a job.

The key thing to stay on the radar is sending a personalized update email to let keep them up to date with your job search. Be smart and find a reason to email them. News on your end or about their firm is a great excuse. I.e. I saw your firm sold a portfolio company to X Publicly traded company, congratulations, btw, I am still looking…

Hopefully, this will save you time, organize your search, and, ultimately, make it successful by helping you land your dream job at a VC/PE firm in Nashville.

Good luck and let me know if I can help,

- Andrew