Felicis

1. 1Application

   Resume, often a short written prompt (a company you would invest in, a market you are excited about). Many seats are filled through people the team already knows, so networking is most of the application.

2. 2First round

   An associate or principal. Why venture, a startup you like and why, how you would source deals, and questions about a sector you claim to know.

3. 3Partner rounds and case

   Meetings with partners, often a take home: write an investment memo on a startup or map a market and pick the company you would back. Expect pushback on market size and the team.

4. 4Offer

   Small classes and irregular timing. Some firms decide in days, others after weeks of informal coffees.

Felicis does not state its process on its own site, so these are the usual stages.