Starting a career in venture capital can be quite daunting. It is a complex world that requires a significant level of expertise in market analysis, financial modeling, and deal sourcing. The process can be overwhelming, especially for newbies in the industry. However, with experience, you learn about the different areas that can assist your professional growth. One of the greatest tools I have encountered in my early career in venture capital is what I call – getting to the “Mids.” In this blog post, I will enlighten you about this term, its importance, and how it can be beneficial in your venture capital career.
When I refer to Mids, I am not referring to Chamath’s definition of Mids as twitter trolls. Mids, by my definition, are the mid-level people within venture firms. These people are not at the top management level, but they are doing the majority of the work. They are the associates or principal level investors who are working diligently and putting in more effort to prove their mettle in the industry.
Mids have a pulse on what is going on in the market. Unlike senior partners and managing directors who often lack the interest to research or analyze the market deeply, the Mids are happy to jump on calls and be more engaged. They know all the companies within their area of expertise, industry, or geography. They have a better understanding of the market, the latest trends, and the deals that are in the pipeline.
Having access to the Mids in your roladex can prove to be transformational for your career in venture capital. They have a breadth of knowledge and expertise that can be helpful to you. They are usually more approachable, willing to mentor, and provide guidance. As a young investor, it is important to learn about the basics of the venture capital industry. The Mids can identify the common pitfalls new investors fall into and steer you away from making mistakes.
The Mids are often the ones executing deals at the firm. When you develop a good relationship with them, they can become your advocate during the deal process. They can work on your behalf to highlight your abilities, knowledge, and diligence in front of senior management. This can open up more opportunities for you to take on larger responsibilities and, eventually, climb up the management ladder.
There is no denying the importance of the Mids in the venture capital industry. They work harder, have more expertise and experience, and are willing to share their knowledge with young investors in the industry. By getting to know the Mids in your firm and building a relationship with them, you will gain access to a wealth of information that can assist you in your career growth. You will be better equipped to understand the market, navigate the deal process, and develop your skills, which will ultimately prove to be invaluable assets as you move forward in your venture capital career.
