Working in CHINA
Hi guys.
Right now I've got a few internship offers for this summer. Could you help me choose which one should I take so that I have a better chance securing a FT position at BB IBD when applying this Autumn.
The positions are all in China (I from China too). One is IBD from a state-owned security firm (CITIC, or BOC International)
One is a small new VC firm but the founder is the former boss of a top state-owned VC in China.
And another is a PE firm and according to some magazine it ranks top 50 among all Chinese PE.
So, does anyone know about Chinese market and offer me some advice? Thanks guys.
I'd take PE internship over IBD internship in China. IBD internship in China = pitch books, pitch books, pitch books.
Thanks! I see. But even in HK office there is still little modelling? And why PE? How about the small VC fund, the team has just around 20 people so I assume the deal exposure would be good. What do you think?
Small VC fund - unless the partners are very well connected in the sectors targeted by the VC fund, you may be spending a lot of time looking for leads, occasionally finding one and chasing it, never seeing a deal done.
It's like IB pitching when you're at a no name IB. You never even get an invite to the beauty parade.
Check how many deals the VC fund has done, how much $ invested. If that compares well to how long they've been looking for deals, that's a good sign.
Top 50 PE firm - I've seen hundreds of "top XX" lists for Chinese companies that are completely fictional, but hopefully the PE firm you're looking at has some credibility. If it's got some assets already on its balance sheet, that's a positive sign that you may be doing some meaningful work.
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