Venture Capital Managing Director/Director

1 month ago

New Haven, United States Connecticut Innovations Full time

Come join Connecticut Innovations - Venture Capital for Biotech, IT, and More Connecticut Innovations (ctinnovations.com) as a Venture Capital Managing Director/Director supporting our Biosciences Fund


Connecticut Innovations (CI)


As Connecticut's strategic venture capital arm and one of the most active investors on the eastern seaboard, CI has a portfolio of 220+ companies across various industries, with strengths in life sciences, technology and climate tech. CI meets with hundreds of companies every year, identifying the most promising early-stage companies looking to grow in the state. Every year, CI invests in 20+ new companies, in addition to providing follow-on capital to existing portfolio companies. CI also invests as a Limited Partner in outside venture funds based in CT (17 in the past 6 years).


  • CI has invested $675+ million in innovative startups since 1995
  • CI’s leveraging power is 10X, or $6.7 billion


CI invested $48.7 million in 81 companies and venture funds in the fiscal year ending June 30, 2024. CI’s investments also attracted an additional $1.1 billion in outside capital into its portfolio companies. This fiscal year generated $35 million in cash proceeds through company exits, which includes acquisitions and IPOs, which will allow CI to invest in more early-stage companies in the future.


Our culture is vibrant, diverse, collaborative, and inclusive. We embrace perspective and have mission alignment on our impact to Connecticut’s innovation ecosystem. We host or participate in over 20 ecosystem events per year, and our headquarters at The District in New Haven is a catalyst for partnership and an innovation ecosystem community hub.


CI Bioscience Innovation Fund (CBIF)


CI makes investments from the $200 million CBIF in the form of equity investments and loans to speed bioscience breakthroughs to market. The portfolio consists of over 100 companies covering verticals including digital health, pharmaceuticals, biotech, life sciences tools, diagnostics, medical devices, and more.


  • Since 2013, CI’s Bioscience investment activity has more than doubled, and we have seen $3.5+ billion in outside capital leveraged within this portfolio
  • Recent CI Bioscience portfolio IPOs include Arvinas, Biohaven Pharmaceuticals, RallyBio, Sema4
  • Recent CI Bioscience portfolio acquisitions include Avitus, Biorez, Dia Imaging Analysis, Diameter Health, Medically Home, Populi


CBIF Venture Team & Venture Capital Managing Director/Director


The CBIF Venture Team consists of 5 team members. Each team member plays a pivotal role as part of the investment due diligence process and post-investment, as part of scaling the portfolio company. It is a team that embraces diversity of thought, listens with an open mind, thinks big and concretely, and invests with the mission in mind.


We are hiring a CBIF Venture Team member (Venture Capital Managing Director/Director – Healthcare/Biosciences) to support our active, high-tech bioscience portfolio. This is a unique hands-on venture capital experience in an innovative, and collaborative work environment that values diversity, equity, and inclusion. This opportunity to contribute, add value, and make an economic impact in the State of Connecticut is extraordinary. We seek an absolutely elite team member to hit the ground sprinting.


Team members play a key role in executing our investment strategy by researching and cultivating promising investment opportunities and participating in all phases of the investment process including sourcing, due diligence, meetings with management, focused company and industry research, financial modeling, writing investment recommendations. Post-investment, team members monitor the portfolio company and support the business on strategic growth initiatives and potentially serve as a board member or observer.


Responsibilities


  • Role is a combination of investment origination, deal execution, and portfolio company management
  • Prospecting for new investment opportunities
  • Conducting market, product and competitive analysis on each potential investment
  • Financial modeling and valuation analysis, collaborating with and supporting other members of the CBIF team, setting and negotiating deal terms
  • Preparing reports and proposals regarding potential investments and portfolio companies
  • Presenting investments for approval to CI advisory committees and committees of the CI Board of Directors
  • Assisting in identifying strategic, marketing and partnering opportunities for portfolio companies


Personal Characteristics


  • Entrepreneurial mindset, ambitious self-starter with proven ability to work in a collaborative and diverse environment. High energy, effort, fun and positive mental attitude are all must-haves.
  • Problem-solving skills and ability to work well with autonomy and ambiguity
  • Motivated to succeed in a fast-paced environment
  • Willingness and ability to move between relatively routine and detail-oriented work, to a higher degree of critical thinking and judgment
  • Appropriate combination of self-confidence and humility, a consummate team-player with a history of making teams perform at a higher level
  • Motivation, commitment, and dedication to excellence must be exemplified in all prior work and academic history.


Role Requirements


  • Master's and/or higher degree in business or science. Minimum undergraduate degree in biosciences strongly preferred.
  • 10+ years of experience in venture capital, private-equity, and/or a corporate development (or equivalent role) within a pharmaceutical, biosciences/life sciences, or healthcare company
  • Experience in investment origination, due diligence, deal execution, and portfolio company management
  • Experience in conducting market, product, competitive and valuation analysis in the biosciences/life sciences/healthcare industries
  • Startup/growth experience in a venture backed company is highly valued, especially serving as a founder
  • Knowledge of financial statements
  • Knowledge of business plans, financial and legal documents
  • Strong oral and written communication skills


This role will be based out of Connecticut Innovations’ headquarters in New Haven, CT, and our team is in the office most days unless visiting companies. Having a Connecticut residency is required for this role. Out of state candidates are welcome to apply only if the candidate (and family) moves to Connecticut prior to the start date.


Connecticut Innovations offers a competitive starting salary, with additional bonus opportunities based on team and individual investment performance, excellent benefits including health/dental insurance, generous paid time off, retirement plan options, flexible work schedules, and a culture that encourages work-life balance.


Connecticut Innovations is an equal opportunity/affirmative action employer and strongly encourages the applications of women, minorities, and persons with disabilities.

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