Why EnCap Investments: Interviews, Careers, & Portfolio

EnCap Investments Overview

Since 1988, EnCap Investments has been a top provider of venture capital to the independent sector of the U.S. oil and gas industry.

Their investment approach for midstead, upstream, and energy transition platforms is to look for the best management team with structured business plans and provide strategic and growth capital support.

As a result, they have generated the following figures:

– 24 funds raised

– $40 billion LP capital commitments

– 350+ active investors

– 275+ teams backed

EnCap Investments started when the firm was founded by Robert L. Zorich, D. Martin Phillips, Gary R. Petersen, and David B. Miller. Their headquarters is based in Houston, Texas.

EnCap Investments AUM

According to EnCap’s public record, the firm has raised 24 institutional funds (totaling to over $40 billion) and currently manages capital on behalf of 350+ investors.

EnCap Investments Interview Process & Questions

The interview process may change with each candidate, but if you interview at EnCap Investments (or a firm like it), you can expect the following:

• 4-6 rounds of interviews
• The HR team or junior investment professionals will conduct the first rounds while the seniors take care of the later rounds
• The entire interview process typically conclude after multiple weeks – unless it’s “on-cycle” or “on-campus” recruiting

Interviews at EnCap Investments will require you to deal with a mixture of fit, behavioral, and technical / investing questions.

Need help preparing for interviews? Take a moment to check out my Growth Equity Interview Guide.

Why EnCap Investments

“Why this firm” is one of the questions interviewers always like to ask to see whether candidates have a specific reason for choosing their firm, and not simply applying to any firm with open positions.

If you’ve met any former or current employees from the firm, this is your chance to mention whoever you’ve connected with and how they’ve made a positive influence on you.

Also, listen to interviews with the firm’s executives, founders, and investors so you can know more about them and come up with an answer to “why this firm” question that’s relevant and impressive.

Check out this interview with Jim Hughes, Managing Partner at EnCap Investments:

More interview

• Interview with Kellie Metcalf, Managing Partner, EnCap Energy Transition

EnCap Investments Case Study

Firms like EnCap Investments are looking for people with technical knowledge and excellent communication skills. They utilize case studies to assess these two crucial attributes. That’s why it’s advisable to prepare for case studies as they almost always show up on interviews.

Case studies at firms like EnCap Investments typically consist of financial modeling with investment recommendations. However, cold calling case study may also be needed for junior roles.

If you want to prepare for case studies, my Growth Equity Interview Guide can help.

EnCap Investments Salary & Compensation

At EnCap Investments, Summer Analysts make around $102,570 per year, while no recent data is available for Associates. This figure may vary depending on the candidate’s qualifications and experience.

Summer Analyst

EnCap Investments Careers, Jobs, & Internships

If you want to see open positions at EnCap Investments, go to our job board where we also feature opportunities for other similar firms.

EnCap Investments Portfolio & Investments

EnCap Investments has an impressive portfolio, with 39 investments across five funds. Some of the businesses they’ve had notable deals with include Piedra Resources, US Grid Company, and Grenadier Energy Partners.

Notable Transaction: Pegasus Resources

Pegasus Resources is a royalty and mineral company based in Fort Worth, Texas.

Their focus is acquiring and managing mineral and royalty properties in Midland Basins and Delaware.

In February 2019, Pegasus Resources secured an additional $300 million equity from EnCap Investments. They already received an initial funding of $300 million from Encap in November 2017.

David Muller, EnCap’s Co-Founder and Managing Partner, said that the second capital infusion is a proof of the firm’s confidence in the Pegasus team and their overall strategy.

Next Steps

Landing a role at firms like EnCap Investments will require you to excel during interviews. I structured the Growth Equity Interview Guide for this purpose.

It’s an online course which helps professionals gain mastery over the important topics that typically come up during interviews — case studies, valuation, financial modeling, and many more.

If you want to have a competitive edge and confidence during your interviews, go ahead and check out the course.