A good cover letter is another opportunity to differentiate yourself from the hundreds of other people chasing the same positions as you. This holds true even in this age of electronic communications, and in the venture capital industry.
A cover letter (whether it’s attached or sent as your covering e-mail with your resume) gives you a chance to highlight 1-2 unique skills or achievements front and center. It also demonstrates your professionalism, maturity, ability to communicate (a key venture capital skill) and attention to detail. But you must follow a few simple rules.
As with private equity cover letters (see previous blog post), your cover letter must be brief (one page), concise (3-4 paragraphs at most, with no paragraph more than 4 sentences), and structured properly.
The first paragraph is simply an introduction, why you are writing, and why you are interested in a particular position.
The second paragraph is the crucial one. This is where you match your particular skills and experience with the organization’s needs, and make the case for why they should hire you. You must highlight your 2-3 most relevant qualifications or achievements and link them with what the firm is looking for. In venture capital, this should include your experience with start-ups, businesses you’ve started, your passion for a particular industry or the entrepreneurial culture and spirit (with proof points).
Your final paragraph mentions that you’ve enclosed your resume, and asks for an interview. This is also where you inject some additional enthusiasm for the opportunity. You might even mention that you will follow up in a few days, and thank them for reviewing your resume.
What makes a venture capital job cover letter effective? In a word, relevance. Here’s how one candidate led off the key second paragraph of his letter:
“I believe my unique combination of professional experiences, including founding my own company, conducting merger and acquisition consulting, and rolling up my sleeves in early stage venture capital investing, prepare me to excel as an Associate at ABC Ventures.”
You should aim for “fact density.” In other words, packing 2-3 highly relevant resume points into one action-packed sentence. You can see how this applicant used active verbs and three very relevant examples.
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