Key lessons from our recent PER Career Accelerator event: What does Partner mean?
We hosted a fantastic panel in London this morning, bringing together women in Life Sciences and Healthcare investment roles to explore the path to partnership.
The discussion covered key topics, including the timing of career conversations, the calculations behind taking risks and the importance of recognising your own value and building your brand.
The discussion covered key topics, including the timing of career conversations, the calculations behind taking risks and the importance of recognising your own value and building your brand.
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No two routes to partnership are the same
The panellists emphasised that there is no singular path to partnership; it can stem from various experiences in science, finance, or industry. From building networks and taking career risks to leveraging transferable skills, their stories highlighted the importance of curiosity, resilience, and adaptability.
What does partner mean?
Being a partner extends far beyond executing individual deals, even highly successful ones. It involves demonstrating the ability to manage or co-manage an entire fund, including driving strategy, building capital, planning for succession, and guiding investments to successful exits.
A crucial part of proving your readiness for partnership is showing that you can contribute to the broader success of the firm. This includes participating in fundraising meetings and establishing yourself as an essential team member to LPs, showcasing your value in shaping and sustaining the firm’s long-term vision and operations.
For many, the transition from principal to partner isn’t about a change in the nature of the work but rather in the perception of their role and its impact. While principals often perform similar tasks to partners, becoming a partner involves a deeper sense of responsibility and influence over the fund’s direction. Some thrive on this broader impact, while others prefer to focus exclusively on investment activities.
Making the most of sponsors and networks
The panellists stressed the value of mentors and sponsors in navigating the path to partnership. Sponsors, in particular, are critical as they advocate for you within the firm. Identifying people you trust, including peers, is essential for receiving honest feedback and guidance.
Networking also emerged as a key component of career progression, providing access to opportunities, insights, and support. Building meaningful connections can open doors and create a platform for sharing knowledge and experiences. Recognising that partnerships differ across firms is crucial, so it’s important to understand what the role entails and whether it aligns with your goals.
Top tips for aspiring partners
- Christina: Be open in conversations with peers - sharing information often results in valuable insights
- Diana: Leverage the power of community; a strong network can provide support and open doors
- Ena: Maintain relationships, even after tough deals. Rebuilding trust is essential as you’re likely to work with the same people again
- Heather: Never stop networking - opportunities often come from the relationships you build over time
- Marianne: Build relationships proactively, even without an immediate purpose. Don’t hesitate to invite someone for coffee to foster connections or ask challenging questions - every interaction enriches your understanding and opens doors
- Gail: Treat your career decisions with the same diligence as investment choices. You only get one chance to "invest" in yourself, so assess risks wisely and align your efforts with long-term goals
The journey to partnership
This discussion underscored that the journey to partnership is as much about relationships and strategy as it is about professional achievements. By sharing their stories, our panellists offered invaluable guidance for anyone seeking to navigate the complexities of venture capital and achieve their career aspirations.
This event was put together by our Life Sciences & Healthcare Consultant, Annelie Murray.
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