Search residency

Definition

A firm-backed seat to find and run one business, often without a salary.

Why It Matters

It sits between the two named paths and gets described as neither. The firm supplies the platform, the introductions and usually the acquisition equity; you supply the search itself, so the arrangement costs you time and cash instead of ownership. What decides whether one is worth taking is on the program's own page. How much equity vests when a deal closes, whether the firm has closed one with a resident before, and who owns the thesis when the two of you disagree about a target.

In numbers: A residency might pay nothing for a twelve-month hunt and vest up to 25% of the equity on close, the ceiling residencies on the Job Board publish, so the hunt costs a year of income and not the stake.