The Investor with Joel Palathinkal

Episode: Steven Melia (OpenView Ventures)

Release Date: August 21, 2025

Episode Overview

In this episode of The Investor, host Dr. Joel Palathinkal is joined by Steven Melia, Talent Partner at OpenView Ventures. The discussion centers around the evolving landscape of venture capital (VC) recruiting, the increased importance of operator backgrounds, product-led growth (PLG) investment strategies, and actionable advice for those seeking to break into VC roles. With a conversational, hands-on approach, Melia provides a behind-the-scenes look at how OpenView and peer funds evaluate talent and deals—emphasizing skills, mindset, and authentic passion.

Key Discussion Points & Insights

Steven Melia's Career Journey and Breaking into VC

• Transition from Executive Recruiting to VC:
  • Melia started in executive recruiting at Korn Ferry, became interested in private equity/venture-backed companies, and moved to True Search (then a boutique firm) to focus exclusively on venture/private equity businesses ([02:10]).
  • His work at True Search included recruiting for top funds (e.g., Accel, Sequoia) and operating roles at high-growth companies (e.g., UiPath, 1Password).
  • Joined OpenView as Talent Partner in July 2020 after a brief pause due to COVID-19 ([02:10–06:29]).

“Korn Ferry is the largest executive recruiting platform in the world... Over time I got more and more exposed to the private equity practice… Very different than the Fortune 100 clients. A little bit more like the Wild West.”
— Steve Melia ([02:10])

VC Interview Processes: What Top Funds Look For

• Variation by Fund & Role:
  • OpenView specializes in B2B, expansion-stage software (Series A–B, $10–30M checks), emphasizing both analytical/diligence skills and sourcing/founder relationship acumen ([07:43]).
  • Funds like Accel and Sequoia have multi-fund strategies, pushing candidates into specialized lanes (consumer/B2B, early/growth), requiring tailored backgrounds ([07:43–09:50]).
• Assessment Tactics:
  • Diligence/case study exercises using live data from portfolio companies—candidates decide, “Would you make this investment?” ([10:00])
  • Sourcing candidates might be asked to identify new companies in target sectors and explain their rationale.
  • For more senior hires (VP/Partner), demand for both deeper expertise and leadership capabilities.

“We want them to come back and say, ‘Hey, I really like this space. Here’s why. Here’s a company I think is trending in the right direction...’ It’s really meant to get them talking, right?”
— Steve Melia ([10:35])

Expanding the Talent Pool: Operator, Consulting, and Diverse Backgrounds

• Beyond ‘Classic’ Finance:
  • Increasing openness to candidates from product management, consulting (e.g., McKinsey), BD, sales, and corporate development ([12:48]).
  • Specific OpenView partners/VPs cited as examples (Tom Hollahan: BD at Datadog; Caitlin Henry: Amazon product teams).
• Value of Operator Experiences:
  • Funds now appreciate hands-on operating skill sets that complement traditional finance, enabling better founder empathy and startup assessment ([12:48–16:26]).

“You want the profiles you flagged… just her ability to connect with entrepreneurs is different, you know, than some people who come from strictly finance and look at the numbers.”
— Steve Melia, on VP Caitlin Henry ([13:30])

Sales, Relationship-Building, and Emotional Intelligence

• Sales as a Superpower in VC:
  • Building founder trust and peer (other VC) networks is as crucial as analytical rigor.
  • Relationship skills are essential both for sourcing and “getting into” competitive, oversubscribed deals ([16:26–18:39]).

“Some of the best deals that I got into is just because another VC told me about it as a friend… if you can’t even get into the deal and the people don’t like you, then you’re kind of handcuffed.”
— Joel Palathinkal ([16:26])

• Showcase Passion and Differentiation:
  • Candidates stand out by publishing insightful blog posts, build dashboards, or have public deal theses, especially about areas core to the fund (e.g., writing intelligently on product-led growth for OpenView) ([18:39–22:09]).

“We had a candidate that got on our radar through a blog post… That was flagged by one of our partners.”
— Steve Melia ([20:30])

Artifacts, Storytelling, and Interview Best-Practices

• Telling Your Story:
  • Resumes, LinkedIn, and the ability to narrate a career path—complete with failures and learnings—matter, but deeper preparation for “live deal” discussions is key ([26:04–29:23]).
• Emphasize Relevance:
  • Candidates should reference live deals or sectors that reflect the fund’s actual focus (e.g., not suggesting a life sciences deal for a B2B software fund) and demonstrate business development or sales intelligence ([29:23–31:17]).

“When they’re saying, like, ‘Hey, tell me about yourself’, they get through it in like 45 seconds. Sometimes that’s a red flag.”
— Steve Melia ([26:42])

Job Switching: Operator-to-VC Resume Strategy

• Highlight Operating Impact, Don’t Force Fit:
  • Operators should emphasize leadership exposure, cross-functional collaboration, and domain expertise—these are often missing in traditional investor resumes ([32:15–33:29]).

“I would beef it out even more on the operating side… Being an expert in a function or getting that experience and then really positioning yourself as someone who understands how to work in a company.”
— Steve Melia ([32:15])

Early vs. Growth Stage VC Recruiting

• Finance Backgrounds More Common Later:
  • Growth and private equity investing puts more weight on financial modeling and quantitative rigor; early/expansion stage places a premium on passion, sector interest, and founder engagement ([34:02–35:53]).
  • Regardless of stage, preparation means knowing what skills or mindsets the fund values.

Modeling and Diligence Skills: Depth vs. Practicality

• Essential Models:
  • Revenue and churn models, cohort analyses, basic three-statement financials are standard ([35:53]).
  • VC modeling less complex than banking; focus is on using available data to build plausible growth/valuation scenarios ([36:39–39:30]).

“The modeling you can do in venture isn’t really as… complicated as you would think.”
— Steve Melia ([36:39])

Product-Led Growth (PLG): Investment Strategy & Challenges

What is PLG? Why is it Powerful?

• PLG Overview:
  • Product’s value is demonstrated directly to end-users, driving viral, bottom-up adoption (e.g., Slack, Calendly).
    • “I send you my Calendly link... now you’re using it, and then you’re going to be using it across multiple invitations, groups of friends, teams, companies, firms.”
      — Steve Melia ([42:15])
• Benefits:
  • Capital efficient—less reliance on large sales teams.
  • High virality, strong user engagement, better unit economics ([43:54]).

Limits of PLG and Common Pitfalls

• Not Universally Applicable:
  • Adoption can be hard in sectors where enterprise sales are the norm (government, industrials), or high-touch engagement is required ([46:01]).
  • Late-stage attempts at PLG, if not integrated early, can be less effective.

“PLG is not easy… some industries there needs to be some component of sales.”
— Steve Melia ([46:28])

• Potential for “False Positives”:
  • High top-of-funnel user growth can mask high churn; sustainability is a concern ([55:25–57:32]).

“You can get so many customers or start to drive some real growth because of the virality in the product. But is that sustainable? Are you actually sustaining that growth with both existing customers and net new customers?”
— Steve Melia ([57:32])

Evaluating Good vs. Bad PLG Companies

• Criteria Used by OpenView:
  • Founder’s story, vision, ability to attract good people.
  • Momentum, market research, and clear go-to-market strategy.
  • Sustainable user and revenue growth (cohort retention analysis), not just signups ([55:25–58:08]).

Blogging, Thought Leadership, and Networking

Should Candidates Write Blogs?

• Differentiation is About Depth and Specificity:
  • Focus on unique, specific arguments (S-1 teardowns, company-level PLG analysis) versus general “state-of-sector” content.
  • Don’t be afraid to take a stance—even if some partners disagree ([52:36]).

“There’s a lot of people blogging about high level things… I would try and get as down in the weeds as you can and make a position—that’s what’s going to get a response.”
— Steve Melia ([52:36])

Cold Outreach & Networking

• Effective, Especially for Operator/Nontraditional Backgrounds:
  • Cold emailing associates, VPs, and partners can open doors; personalize the pitch and provide artifacts (models, blog posts, sector thesis) ([49:07–51:10]).
  • Do not limit yourself to headhunters or formal job slots—VC teams respond to authentic, focused engagement.

Notable Quotes & Memorable Moments

• “Sales is the most important skill in life… if you can’t even get into the deal and the people don’t like you, then you’re kind of handcuffed.”
  — Joel Palathinkal ([16:26])

• “Being able to speak to what gets you excited about a company doing that $1–5 million push and some of the things they’re going through… that goes really deep with a hiring manager.”
  — Steve Melia ([18:44])

• “PLG is really more specific to the go-to-market playbook and approach with your product versus others… You’ll see successful PLG companies cross verticals.”
  — Steve Melia ([40:53])

• “Don’t be afraid to have an opinion and go with it. It doesn’t even have to completely align with an investment thesis or the partner you’re talking to.”
  — Steve Melia ([22:47])

Timestamps for Important Segments

| Timestamp | Topic | |--------------|--------------------------------------------------------------------------------| | 02:10–06:29 | Steven Melia’s career journey into VC and recruiting | | 07:43–11:55 | How top-tier VC interview processes have evolved | | 12:48–16:26 | OpenView’s approach to hiring and the rising value of diverse backgrounds | | 16:26–18:39 | The importance of sales, relationship-building, and personal branding in VC | | 18:39–22:09 | Standing out in VC recruiting: blogs, dashboards, and public deal theses | | 26:04–29:23 | Resume tips: telling your story and prepping for relevant live deal discussions| | 32:15–33:29 | Adapting operator experience for VC career switches | | 34:02–35:53 | Early vs. growth stage skill sets | | 36:39–39:30 | What modeling skills to expect and practice | | 40:26–43:38 | Product-led growth: adoption, limits, and investment perspective | | 46:01–47:10 | Where PLG doesn’t work and case examples | | 49:07–51:10 | Cold outreach and navigating the recruiting landscape | | 52:36–54:52 | How to write differentiated, effective VC blogs | | 55:25–57:32 | Evaluating good vs. bad PLG companies |

Conclusion

Steven Melia’s insights are a must-listen for aspiring VC professionals. The keys to breaking in—whether from an analytical, operating, or hybrid background—are authentic passion, concrete sector engagement, storytelling, and sales skills. For candidates considering product-led growth or similar segments, depth of domain perspective and the ability to articulate differentiated, data-backed opinions are critical. OpenView and peer funds are becoming more open-minded, rewarding those who combine business acumen with hustle and conviction.

Recommended Action:

• Follow OpenView’s content (including their Product-Led Growth landscape), listen to their podcast for additional sector insights, and consider publishing specific, unique takes on areas you’re truly passionate about to stand out in the competitive VC job market.