Hugh Phelan, IESE Business School MBA Class of 2025
Hugh Phelan, IESE Business School MBA Class of 2025Age: 30
Hometown: Philadelphia, PA, United States of America
Undergraduate Institution and Major: University of Notre Dame, Political Science
Pre-MBA Work Experience (role, company, years): Senior Analyst, Osage Venture Partners, 2016-2020; This was an early-stage venture capital firm focused on business software. Product Lead, MarginEdge, 2020-2022; This was a Series A restaurant software startup that Osage Venture Partners invested in. I was recruited to design and implement the payments business. Independent consultant, various companies, 2022-2023; Philanthropi is a social giving platform. I helped them raise venture capital. 7shifts is a restaurant software startup. I helped them design their risk management and compliance program. Yield Capital Partners is a climate-focused VC firm. I helped them evaluate startups and market opportunities in the climate solutions space.
Why did you make the decision to attend business school? Why now?
I would really like to start and run a successful software company. My time in Venture Capital gave me a good sense of what great companies look like. My time as a startup operator taught me what it takes to actually build a great company (among other things, lots of work!). I decided to attend business school because it seems like a great way to fill the business knowledge/experience gaps I still have, and it provides an opportunity to join an amazing community of folks I can learn from and potentially start a company with!
Why did you choose IESE? What factors figured most prominently into your decision of where to attend?
I wanted it all – a top-ranked MBA program that would provide me with interesting, new experiences in an amazing location – all without drowning me in debt. IESE passed these criteria with flying colors.
Quality was simple to assess: the Financial Times ranked it as the 3rd best MBA globally, and the Economist ranked it #1. While impressive, it was the potential for new, interesting experiences that really made IESE stand out for me.
First, the class diversity is astounding: there are +60 countries represented. In my first few weeks, I have already learned so much from the different perspectives and experiences of my classmates, and I can’t imagine another situation in my life where this kind of diversity would be possible (maybe the UN?).
Second, while the program is in English, the country is in Spanish. I have never lived outside the US before, and my Spanish language skills are poor-bordering-on-non-existent. IESE represented an opportunity to go way outside of my comfort zone – to embed myself in an unfamiliar culture and pick up a new language on the way.
Lastly, the location. Barcelona just can’t be beat. Not only does the city have beautiful weather, delicious food, rich culture, etc. – but it’s significantly cheaper to live in than most cities with top-ranked MBAs (especially ones in the US). If I had chosen to attend an MBA in Northern California, I would be living in a shoebox and eating instant ramen for two years, and I would still come out poorer than if I’d gone to IESE in Barcelona.
Taken together, IESE has the full package.
What do you think is your most valuable or differentiating contribution to the IESE Business School Class of 2025?
I think having experience as both a venture capital investor and as an operator at a successful startup is a rare combination for an MBA applicant, and could yield some different, hopefully valuable perspectives. I’m also pretty dangerous on the piano, although I have yet to figure out how that will be relevant…
Tell us a fun fact about yourself that didn’t get included on your application:
I built a brick pizza oven during the pandemic. It still stands.
Post-MBA career interests:
I would like to either start or join a software startup on the ground floor, or join an early-stage VC firm in Europe, where I think there’s a ton of unrealized opportunity given the high level of talent and relatively low level of capital (at least when compared to Silicon Valley).
Advice for Current Prospective Applicants:
–What is one thing you would absolutely do again as part of your application process?
If possible, visit IESE in person. The Admitted Students Weekend was an amazing opportunity to experience the vibrancy of Barcelona and gain a concrete appreciation for the caliber of IESE’s student body. Additionally, you’re meeting future classmates, which makes finding roommates much easier.
–What is one thing you would change or do differently?
Nothing – I got in
What is your initial impression of the IESE students/culture/community?
Since coming to IESE, I have been blown away by how many students are sincerely committed to having a positive impact on society with their careers.
What is one thing you have learned about IESE that has surprised you?
I have met a bunch of people in my class who have already run companies – whether family businesses or companies they started themselves. I didn’t expect this level of experience for people our age and it has been really interesting to hear their experiences.
What is one thing you are most anxious about in your first year?
While I am confident in my ability to start a software or VC company, the short-term steps to make that a reality are not yet clear, and that can be a source of anxiety. IESE has an oft-repeated mantra for first-year students career discernment and figuring out next steps: “trust the process.” So that’s what I’m going to do!
What is one thing you are most excited about in your first year?
I’m most excited about getting to know and learn from the folks around me – so many talented classmates with a wide range of personal and professional backgrounds. It’s really special to have that kind of community.
