TEDCO is an independent entity, established by the Maryland General Assembly in 1998, to facilitate the creation of businesses and support their growth in all regions of the State. TEDCO’s role is to be Maryland’s leading source of funding for early-stage, technology-based business; to provide other business assistance to entrepreneurs throughout the State; and to foster technology transfer and commercialization from the State’s universities and Federal labs. TEDCO is leading innovation to market in Maryland and contributing to a robust entrepreneurial ecosystem in the State through its various programs and funds.
The Maryland Venture Fund (“MVF” or the “Fund”) is an evergreen venture capital fund dedicated to investing in and growing the next generation of outstanding, technology-based businesses in Maryland. MVF partners with exceptional entrepreneurs and top-tier investment partners to help build sustainable, high-growth companies in Maryland. Assets under management total more than $100 million including direct investments and a Fund of Funds portfolio. The objective of the Fund is twofold: (i) to provide financial returns on its investments, and (ii) to generate an economic return to the State in the form of job creation, capital investment, attraction of additional capital to the State, and other contributions to the State’s technology ecosystem.
The Managing Director, Investments is responsible for defining strategy and leading team members with the dual objectives of investor returns and economic development for the state of Maryland. This individual will provide thought leadership, the development of investment themes, structuring and execution of investments, and proactive management of portfolio companies. Additionally, this individual will be charged with the operational and financial management of all the investment programs within TEDCO. This position reports to the Executive Director of TEDCO.
Duties and responsibilities will include:
- Lead the Maryland Venture Fund (MVF), Builder Fund and Seed Fund teams and direct the investment strategy, creating a diversified portfolio of companies in Maryland – “Qualified Businesses” as defined in the TEDCO statute;
- Ensure the MVF portfolio meets the dual objectives of financial return and economic impact;
- Ensure the Seed Fund and Builder Funds portfolio companies meet the objectives set forth in the TEDCO regulations and statute;
- Manage TEDCO’s relationship with the Maryland State Retirement and Pension System and lead TEDCO’s management of the Maryland Innovation Opportunity Fund I, LLC (MIOF);
- Ensure compliance with Maryland Statue, applicable regulations, and other applicable laws and regulations at the state and federal level;
- Produce statutorily mandated and ad hoc reports associated with the respective Funds;
- Oversee the development of investment memoranda and presentation materials;
- Working with the Maryland Office of the Attorney General, ensure compliance with state and federal laws and regulations governing: (1) TEDCO and its investing entities, (2) the investments made by TEDCO and its affiliated investing entities, (3) TEDCO’s activities in connection with securities transactions, and (4) the management of MIOF and MIOF’s investments;
- Build a venture network and maintain ongoing communication with investors and relevant service providers;
- Ensure the MVF can lead investments that will catalyze syndicates among its venture network;
- Serve as a board observer for selected portfolio companies;
- Proactively find new prospective deals by building relationships with entrepreneurs, incubators, and other stakeholders of the Maryland innovation economy;
- Perform due diligence such as customer and management references, market sizing and mapping, industry research, and competitive analysis;
- Work with portfolio companies as required to enhance operations and performance, report on portfolio companies’ performance and support them on ad hoc projects;
- Represent TEDCO Investment Funds in interactions with legislators and testify at legislative hearings on matters related to the Funds, as required;
- Lead, mentor and develop employees assigned to the TEDCO Investment Funds;
- Must be able to effectively work in a fast paced environment with frequently changing priorities, deadlines, and workloads that can be variable for long periods of time. Must be able to meet established deadlines and handle multiple customer service demands from internal and external customers, within set expectations for service excellence. Must be able to effectively communicate and provide positive customer service to every internal and external customer, including customers who may be demanding or otherwise challenging; and
- Other duties as assigned.
Qualifications necessary to perform the above duties include:
- Bachelor’s Degree in STEM (science, technology, engineering and math) or quantitative field (e.g., Finance, Economics, Business, or Accounting); advanced degree in STEM, business or law preferred;
- 5+ years leading and managing venture investments or leading operations for a venture capital fund;
- Excellent interpersonal skills and ability to drive projects cross-functionally;
- Ability to effectively interact in an matrix environment;
- Strong financial, quantitative and analytical skills;
- Experience reviewing and drafting legal documentation;
- Experience managing multiple stakeholders;
- Combination of private and public sector experience preferred;
- Excellent communication skills, both written and verbal, especially in presentation to committees;
- Strong self-motivation as evidenced by past business goal achievement;
- Well-organized with strong time-management skills providing the ability to manage multiple projects concurrently;
- Experience in venture-backed startup, corporate finance, and/or strategy consulting a plus.
- Strong PC skills, Microsoft Word, Microsoft Outlook, Excel, database applications
If interested, please apply here.
