Varun Kapadia | Spark Capital

Introduction

Varun currently works at Spark Capital since 2020. Prior to joining Spark, Varun was at FirstRand from Jul-Dec 2019, and previously was with Tata Power & Deloitte, based in Mumbai. Varun is a CA and CFA from and holds a B Com from Mumbai University. Varun will be sharing his experience from his stint at Spark Capital focusing on sharing insights about the Investment Banking industry in India

Interview

How did you recruit for this role? What would your advice be for potential candidates aspiring to get here? (recruiting strategy, cycle, process etc.)

I recruited for the role via a post on a job portal. The interview process for analysts involves 3-4 rounds, focussing on technical knowledge and prior experience.

Advice:

Focussing on technical knowledge is key. In cases where one has prior IB experience, be knowledgeable about your past deals/ pitches. Know the numbers, how they flow in a financial model and the investment thesis and industry insights

What is the typical feeder profile (typical previous work experience) for this industry in general and for your firm in particular?

Typically a fresher can land a role in a backend IB shop (tresvista, backoffice at a BB, etc) and then move to a Front end role within 6-12 months. Spark Capital hires freshers occasionally out of some colleges or from other IBs, Big 4s, etc

Is there an education path that is preferred for getting a role in this industry?

Engineer (IITs, BITS) / CA or reputed colleges (SRCC, St Stephens, etc)

What is your total team size and what is the typical team staffing on a case/deal?

30-member team IB team

What are your key responsibilities and deliverable on a case/deal?

Researching, consolidating and understanding the industry and company details. Preparing initial versions of the pitch material

What are your typical work hours in a week (including weekends)?

10-14 hour week days. Weekends are usually off unless there is a client meeting or urgent deliverable for the upcoming week

How do the responsibilities evolve as one grows in this industry into senior roles?

Initially move to a more deal focused role – More financial modelling and making of deal collaterals. Later moving to an ideation role, where one focuses on reaching out and establishing connections and understanding potential for deals

What would be your advice for people aspiring for a similar role?

• Reach out and network well with other folks who have recently joined the banks you have in mind to understand their interview process
• Get your technicals in place; read guide books if necessary by The Vault, BIWS, etc
• Try to get your hands on any deal material from seniors and understand different metrics used in various industries
• Try to understand 1-2 industries by identifying and researching 1 or more companies in each. Go through research reports.
• Practice modelling (understand how a 3 statement model works end-to-end)