What’s the likeliest time to get a promotion at a venture capital firm? About three years after its last fund closed.
That’s what I found in my analysis of promotion announcements from U.S. venture capital firms so far this year. The sample set — drawn from 17 announcements published on PEHub — shows the largest number of promotions occurred at firms that last closed a fund in 2008. Most others last closed in 2007 or 2009.
The timing makes sense, given that most funds of that vintage are nearing the end of their most active investment period, and firms are probably starting to plan their next fund-raising effort. That makes it even more crucial to retain talented people and put in place a partnership that will see the firm through its next investment cycle.
Here we take a look at who’s been moving up the ranks this year at firms with 2008-vintage funds. We’ll also look at industry expertise and investment track records among the recently promoted.