VC Associate @ The David and Lucile Packard Foundation in Los Altos, CA

The David and Lucile Packard Foundation


We work with people and communities to create enduring solutions for just societies and a healthy, resilient natural world. We have worked with thousands of organizations and leaders in the U.S. and worldwide to advance progress in the critical areas of science, ocean and land conservation, climate change, women’s reproductive health and rights, and the well-being of children, families, and communities.

At a time of multiple, intertwined crises globally and here in the U.S., the Packard Foundation began in 2021 a long-planned review of our grantmaking strategies. The first step of our process was to rearticulate our vision and mission, reexamine our organizational values, and create a strategic framework that builds on and honors the Packard Foundation’s past while advancing justice and equity in all that we do.


The Investments team is a 13-person team comprised of nine investment professionals and four operations and administrative professionals. We invest the Foundation’s $8 billion endowment portfolio across asset classes such as public and private equities, venture capital, real estate, hedge funds, and fixed income and across geographies such as the United States, China, India, Latin America, and Europe, creating a stream of payments to the Foundation’s charitable programs. Our goal is to generate excellent risk-adjusted returns that are sufficient to fund the Foundation’s grantmaking activities, while preserving the real value of the portfolio over the long term. We invest by finding the world’s best fund manager talent and building long-term relationships with these funds. We work closely and collaboratively, valuing intellectual curiosity, debate, and teamwork.


The Investment Associate role is a mid-level position typically spanning multiple asset classes, working closely with both senior team members and junior analysts on all aspects of the investment process. You will have the opportunity to interact with some of the most talented fund managers in the world, while supporting the senior team with relevant research into industry and asset-class trends. You will play an active role in the sourcing and diligence process for new managers and in recommending new investments to the Investment Committee.


Search out, meet with, evaluate, and monitor fund managers for the portfolio

Conduct analyses on existing and prospective fund managers to gain insights into historical performance and investment strategy

Build industry relationships with colleagues at peer institutions and fund managers

Prepare materials for discussion with the Investment Committee (e.g., investment memos, strategy roadmaps, asset allocation, etc.)

Present ideas and themes to the Investment Committee

Be in person in our Los Altos, CA headquarters three days per week



Bachelor’s degree

Chartered Financial Analyst (CFA) or Masters of Business Administration (MBA) earned


Three to four years of work experience at an Endowment or Foundation or other buy-side investment management role

Knowledge, Skills, and Abilities

Strong interest in Endowment and Foundation investing as a career

Strong and demonstrated quantitative and analytical skills

Strong orientation to detail and accuracy; excellent organizational skills

Excellent written and oral communication skills

High level of intellectual curiosity and ability to think critically

High degree of integrity and honesty

Demonstrated ability to be a self-starter, multi-task, and work well both independently and as a member of a team

Comfort with Microsoft Excel or similar tools to analyze large amounts of data

Familiarity with Microsoft Word, PowerPoint, and Outlook

Able to travel as needed (up to 25% of time)


The position is full-time. The starting base salary range for this position based in California is $136,000 USD to $208,000 USD annually, not including annual incentive award opportunity. This salary range is an estimate, and the actual salary may vary based on various factors, including without limitation individual education, experience, tenure, certification, skills, and abilities, as well as internal equity and alignment with market data, including potential adjustments for geographic location. Offers are based on the candidate’s years of experience and our practice of upholding salary equity within the foundation.

The David and Lucile Packard Foundation offers excellent benefits for eligible employees. Current benefits include medical (HMO and HDHPs), dental and vision coverage; 15% employer contribution to employee retirement plan; life insurance, disability insurance, vacation, and sick leave; an adoption benefit; fertility benefit; a financial wellness program; health advocacy services, paid time off to volunteer for nonprofit organizations; matching grants for employee contributions to tax exempt organizations; commute assistance; and tuition assistance.


The David and Lucile Packard Foundation requires that all staff be fully vaccinated against COVID-19, except as required by law. Any employment offer will be contingent upon satisfactory proof that you are fully vaccinated from COVID-19, subject to reasonable accommodations for medical or religious reasons, and/or as otherwise required by applicable law.


The Foundation is an equal employment opportunity employer, which means we recruit, hire, assign, train, promote, compensate, provide benefits, discipline, and discharge (and all the other terms and conditions of employment) based on merit, qualifications, job requirements, and other legitimate business factors.

We do not discriminate on the basis of actual or perceived race (including traits historically associated with race, including, but not limited to, hair texture and protective hairstyles), color, religion (including religious dress and grooming practices), creed, sex, gender (including pregnancy, child birth, breast feeding, and/or related medical conditions), marital or registered domestic partner status, age (over 40), national origin, ancestry, physical or mental disability, medical condition (as defined by California law), military or veteran status, sexual orientation, gender identity, gender expression, genetic information, taking or requesting statutorily protected leave, or on any other category protected by applicable law. We also do not discriminate based on whether a person is associated with someone else who is in any of the protected categories or is perceived to be in any of the protected categories.