VC remains one of those industries shrouded in mystery, and while I truly believe there is no one size fits all method of “breaking in”, I hope that this blog post can shine some light into the the role of an analyst, through my own personal experience of navigating the industry and working at Haatch. 

Part 1: Get the Job

I had always been drawn to to the world of start-ups and technology. Before Haatch, I built up my CV, carving out a niche working in sales and business development with consumer e-comm and B2B SaaS start-ups. In my penultimate year of university studying for a finance-heavy BSc Management degree, I decided I wanted experience on the other side of the ecosystem, and in December 2022 I started hunting for a job in VC. 

I believe that getting a job in VC should be treated like a marathon, not a sprint. Fun fact, it took me almost 9 months. I started by researching early-stage funds that were either generalist or aligned with my interests and experience – which in my case was fintech and SaaS. I polished up my CV and began sending cold emails, ensuring I highlighted the value I could bring to the team. While the response rate was underwhelming, as expected, the few replies and meeting invites I did get had similar feedback – they weren’t formally hiring but they will keep my CV on file. I knew this was probably just a nice way of saying no (VCs are experts at the soft pass). 

However, just because I didn’t have a job in VC didn’t mean I couldn’t be part of the ecosystem. Even while I was working in the Sales team at Fidelity International, I built relationships and gained experience in the their Strategic Ventures arm. I reached out to other VC analysts on Linkedin to set up coffee chats – my key piece of advice is ensure you have specific questions to ask (that you can’t find on Google). I continued attending free events (I highly recommend Eventbrite to find them), such as London Demo Day, Google AI and Fintech conference, and rev by Pitchflix, where VC’s pitched to founders. 

Haatch was one of the funds pitching, and so I made sure I got to chat with Charlie, an Associate there, who informed me that Haatch had just finished their re-brand. I thought this would be a good time to reach back out, and update Fred, the partner I spoke to back in December, on the experience I gained at Fidelity. After a few calls with him and the team, I got the role and started in August 2023. 

Luckily for you, Haatch is now officially hiring, and I can guarantee you will not need to wait a year to get the job. But as a general takeaway, I recommend you continue building your network, inhaling new information, and defining your value proposition as an analyst. 

Part 2: The Role

For context, I was working part-time, alongside university. I am so grateful for the flexibility granted by the team to ensure my role did not interfere with my education. 

Once I got the job at Haatch, my day-to-day responsibilities were anything but monotonous.I will admit—the learning curve was steep. But as someone who thrives in a fast-paced environment, I enjoyed the dynamic nature of my role and the constant challenge it brought. My responsibilities ranged from evaluating startups to helping portfolio companies grow. Here’s a look into what my time as an analyst involved and the key takeaways from the work I did.

Evaluating Startups and Pitches

One of the main parts of my job was reviewing incoming pitches. Haatch receives hundreds of pitches, and I personally reviewed over 700 decks, which eventually led to speaking with hundreds of founders. The process wasn’t just about skimming through decks; I had to dive into each company’s potential, and ask the right questions, evaluating whether they were a fit for our fund, and if we were a fit for them as investors. Charlie, my mentor and Associate, was instrumental in helping me hone my skills in this department. I quickly learnt how to assess businesses and zero in on the key points that differentiate promising startups from the rest. 

I know a common criticism of the analyst role is that too much power is given to young 20 somethings with limited real-world experience. Admittedly, I did feel imposter syndrome at times, especially when speaking with founders who were experts in their fields. But a piece of advice I received at a demo day stuck with me: as an analyst, you know the partners and their preferences inside and out. If you pass on a pitch, it’s because you have a clear understanding that the team would likely pass as well. Your role is greater than just your judgment—it’s about aligning with the values and priorities of the fund.

Building Investment Memos and Competitor Analysis

A big part of VC analysis is documenting your thoughts and presenting them to the investment team. I learned how to build investment memos from scratch—an essential part of making informed investment decisions. Over my time at Haatch, I contributed to or created 18 investment memos, and led 5 companies to Investment Committee. 

Conducting competitor analysis was another area where I refined my research skills. Jeremy, Principal at Haatch, gave me great feedback that helped refine my approach. The goal wasn’t just to identify direct competitors, but also to understand the broader landscape, pinpointing where gaps and opportunities lay within each industry.

Working with Portfolio Companies

Once a startup becomes part of Haatch’s portfolio, the work doesn’t stop. I got involved in fundraising for some of our companies, assisting them in finding the right investors, making introductions, and reviewing their pitch decks to give tailored feedback. Helping portfolio companies in their rounds and providing actionable insights was both challenging and rewarding, especially as you see them progress.

Special Projects and Impact Initiatives

At Haatch, I had the chance to take on some exciting internal projects that extended beyond the typical analyst role. For example, I led Haatch’s first ESG and D&I initiative, where I helped develop a Responsible Investing framework and integrate such considerations into our investment memos . On the Investing In Women who Code (IIWC) project, I tracked and submitted Investment Committee data, ensuring we were reporting the gender diversity in our investments to the British Business Bank. This was part of our broader commitment to making sure diversity and inclusion were integrated into our decision-making processes.

The Takeaways

My time at Haatch has been an incredible learning experience, working alongside such a welcoming and supportive team. One of the things that truly sets Haatch apart from any other company is the unwavering passion and constant strive for innovation. The team’s commitment to pushing boundaries and exploring new opportunities has been inspiring to witness, and it’s changed the way I approach my own work and challenges. 

Being an analyst at Haatch has not only deepened my understanding of the VC world but has also given me the opportunity to be directly involved in the growth of innovative startups. As I step into an exciting new challenge in consulting, I’m eager to apply everything I’ve learned at Haatch. The experience has been invaluable, and the lessons from my time as an analyst will undoubtedly guide me forward. 

Written by Gauri Kanodia.

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