Pros
Many of the Fund's investments are doing extremely well. Given that VCs typically expect ~10% of investments to do well, clearly, Mighty Capital's senior Partners are making better investment decisions than many other VCs. The Company has strict standard operating procedures (SOPs) in place for all company operations. The SOPs the senior partners follow to validate investment decisions clearly force the Company to make great investment decisions given the portfolio's performance. The Company also has a strong and proprietary value proposition to investment targets. The Products That Count platform provides access to amazing resources and top-quality talent for portfolio companies. It also allows Mighty Capital to win allocations with startups that other similar-size, less-known VCs would not get access to. The Company offers great upward mobility. One can potentially be promoted title-wise after 12 months. However, your responsibilities stay largely unchanged and you still will not engage in actual "investing" activities. Given AUM, compensation is decent. However, relative to SF wages in every industry, compensation is low. Given the office location, commuting is also relatively expensive. Additionally, if compensation for juniors does not change after Fund III is raised in 2022, then comp levels will be severely below market both for Senior Associates and Principals. Work-life balance is pretty good. Hours are 8am-5pm and you aren't required to work on the weekend if you're decently quick at sorting emails in gmail and conducting minimal market research. The company puts together incredibly light investment theses, so you won't be spending a ton of time writing or researching. The company gifts employees with great headphones. Immediately after joining, you are welcomed with Airpods Pros.
Cons
Where to start. 1. Junior Responsibilities: Mighty Capital treats junior investment team members as executive assistants/secretaries. During the hiring process, the Company is very clear that the first 9-12 months will be spent sourcing deals. While 100% sourcing as a junior VC is normal, Mighty Capital fails to mention to candidates that "sourcing" at Mighty Capital is not actual sourcing. Senior Associates are collectively in charge of managing a single gmail account. Junior team members have to file emails into folders and respond with pre-written templatized emails. For 90% of email responses, you are required to use a template, even if the template response doesn't make sense. The other main junior responsibility is managing a calendar for venture partners. Juniors do not screen investment targets, speak with founders, expand their networks, learn to conduct pre-diligence on companies, etc. Lastly, juniors manage the Company's CRM, which is very unorganized. 2. Rigid Rules. Similar to the SOPs that are written to validate investment decisions, there are SOPs for the tasks junior employees are responsible for. However, the SOPs the junior employees have to follow are inefficient and restrict the success of junior employees. The SOPs are exceptionally rigid and you will be told to not "rock the boat" if you suggest that there is a better way of doing something. This is ironic because Mighty Capital invests in "disruptive" startups that are trying to improve legacy operations. However, Mighty Capital is against any sort of improvement to its own bizarre operating procedures. 3. Upward Mobility. Even the Principals at the firm do not handle due diligence or make investment decisions. After doing some digging, I noticed that no former junior team member had stayed at Mighty Capital for longer than one year. Many Senior Associates leave within 6 months of joining. 4. Office. The "office" is a studio apartment in SOMA converted into an "office." Employees are required to work from the "office" 4 days a week and COVID tests are not provided (you also have to wear a mask all day, even on calls). The Founder is extremely rigid on not working from home except on Thursdays when all employees WFH. Further, the office bathroom is not private. The bathroom sits between the two "office" rooms and the doors open to both rooms. The Company's Founder requires employees to open both bathroom doors directly after using the toilet. The doors are also not soundproof. As you can imagine, this makes employees uncomfortable and is not hygenic. Further, desks are located very close to the bathroom doors. 5. Culture. There is none. I expect the company to continue to thrive investment-wise, but also continue to struggle to retain junior talent. Takeaway: If you want to work at a place where you don't have to do much and you get to say you work at a VC fund, this is the place.