Several of the industry specific firms are pretty new, actually. The main challenge is time, not opportunity. I'm at a top tier "unicorn" startup right now, a

Several of the industry specific firms are pretty new, actually. The main challenge is time, not opportunity. I'm at a top tier "unicorn" startup right now, and my next best alternative is founding another startup. I probably would walk for a partnership track position in a top firm, but that's it. (Or "fix all of apple's online services", build apple's enterprise business, "make android or chromeos secure and secure against third party doctrine", secure the usg, or spacex, but nothing else.) There are some great niches in tech investing outside of early stage startups (a PE focused on turnarounds of ducked companies like yahoo or twitter?), but in early stage, if you aren't getting the top deals (by being known as top tier generally or in your market), why bother?