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Venture Capital Jobs Blog

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VC Fellowship @ Newchip in Austin, TX

Our Venture Partner Fellowship is a part-time general partner in training role that will empower and equip you to contribute to the fund in a significant way remotely and while working full-time elsewhere or attending a masters or PhD/MD degree program. As a Venture Partner, you will be responsible for assisting in the following activities: Fundraising (Portfolio and Fund), Partner and Co-Investor Development, Startup Coaching & Mentoring (Accelerator), and Deal-Flow Sourcing.

You role long-term will be focused on recruiting companies into the accelerator and fund, startup founder development and coaching, leading and managing investments, and establishing a strong culture and vision for our portfolio companies. The area of responsibility for this role is wide and requires thorough knowledge of various startup processes, industries, markets, fields, and skill-sets from both a strategic and execution standpoint- the ideal candidate is a previous Founder/CEO.

You must at a core be an excellent leader who can recruit, coach, and build other leaders. You will work with founders and their teams to develop processes, and externally with investment partners to help founders grow and close their rounds. To be successful in this role, you should have extensive experience in senior leadership roles and/or as a founder yourself, because ultimately, you will find and “build” great startups, invest in them, and help lead them to acquisition post-investment.

Over time, your success will be measured by 4 key metrics in this order:

1. Your ability to assist in fundraising capital to deploy in the fund.
2. Your ability to bring on additional partners and co-investors.
3. Your ability to coach, train, and mentor startups to success.
4. Your ability to recruit and source deal-flow from your network.

You will be required to be an excellent manager, team builder, teacher, recruiter, communicator, fire-fighter, and issue resolver as your work will contribute to building a foundation for startup success in our portfolio for years to come. This Fellowship is a 1-2 year fellowship program with the goal of full-time hire at our fund or another fund after completion.

Accelerator Compensation:

Cohorts launch every month with up to 25 companies per cohort and they last between 3 to 6 months.

The program is largely module and assignment based with biweekly meetings (2x per month):
-1 hour masterminds (group coaching session for up to 8~ companies); and,
-1 mentor session (30 minute 1-1 coaching sessions).

This equates to a part-time role of 10 hours per week (40~ hour total per month) average in expectations for coaching and mentoring.

1. For this work, Newchip will initially pay you a stipend of $2,000 per month that you are actively managing a cohort part-time.

2. You will receive a 5% referral fee for any companies you bring into the accelerator that utilize our tuition model – payable 30 days after they have start their cohort.

Fund Compensation.

1. You will be eligible for carry in the fund for every $1M you raise in funding commitments for the fund from LP’s (high net-worth individuals, family offices, venture funds, etc); and you will receive 0.5% of the carry (2.5% of total) for the life of Journey I $20M Fund – this is a goal based metric, and separate from coaching and mentoring in the accelerator.

2. You will be eligible to receive a bonus of 5% of the sponsorship fee for every company, that you independently source yourself, that the fund then sponsors into the accelerator and $5k for every company that the fund invest in – payable 30 days after the close of the investment.

3. Depending on your results from year one, you may be eligible for additional carry and compensation as well as potential for a full-time role longterm for the life of the fund for 7-10 years.

Culture Fit Requirements:

1. A compelling hunger and passion to achieve something great in life and change the world – remember that experience can be gained over time but your passion and drive are what will lead to success via sheer mental fortitude.

2. Willing to do whatever it takes to get the job done, are humble and have a trainable mentality, and able to learn on the job – we’re looking for partners that can not only operate in the chaos of a startup, but thrive in it and earn a place on our team.

3. Hyper-organized, resourceful, and truly enjoys working in a team to achieve the vision- able to proactively reach out for guidance, offer and receive guidance from your fellow team members, and solve roadblocks on your own.

Part-Time & Remote Work:

You may work out of our offices in Austin, TX, however we’re preferentially looking for remote partners to access additional markets in the Mid-West, West Coast, and East Coast. Your initial title will be Venture Partner at both the fund and accelerator. As a contractor of the companies, you will be responsible for your own medical benefits, taxes, office, and other expenses, unless deemed expense-able otherwise or approved for full-time. There is the opportunity for a full time role for top performers after 12 months.

Limited Partner Requirements:

This role requires a minimum investment stake in the fund, with a minimum investment up front, and the remaining as part of a capital call structure as delineated in the PPM and LP agreement over 3 years. Note that this LP investment is separate from any role or responsibility and is simply skin in the game alongside our full-time General Partners and part-time Venture Partners that have all invested in the partnership.

Responsibilities:

  • Achieve agreed upon personal and fund targets, quotas, and outcomes within schedule
  • Reach out to prospect investment leads through email, LinkedIn, events, conferences, and calls
  • Qualify leads, research accounts, and generate, or follow through fund investment leads
  • Establish, develop and maintain positive business, partner, and portfolio relationships
  • Analyze startup market potential, track portfolio growth, and cohort status reports
  • Keep abreast of best practices and promotional trends in the market for startups and venture
  • Continuously improve through feedback and coaching with management and team to grow
  • Build reports on portfolio needs, problems, interests, competitive activities, and investment potential

Requirements

  • 5+ years of direct entrepreneur and startup experience; or 5+ years of experience from investment banking, private equity, or venture capital.
  • Ability to develop relationships and make connections with anyone, anywhere
  • Ability to google, learn independently, and solve roadblocks without handholding
  • Personality type that talks to people on elevators and “owns” networking events
  • Deep understanding of the startup processes, businesses, and their dynamics
  • Proven track record in selling, communication, and expert negotiation skills
  • A commitment to excellent “service” to deliver quality mentorship and coaching
  • Highly motivated and target driven with a proven track record in closing deals
  • Excellent time management and organizational skills- not just personally but as a leader
  • Ability to create and deliver presentations tailored to the audience needs
  • Relationship management skills, openness to feedback, and ability to grow
  • Familiarity with CRM practices along with ability to build productive business professional relationships
  • Able to work comfortably in a fast-paced environment whether in-house or remote
  • Excellent knowledge of MS Office, Linkedin Navigator, CRM Tools, GDrive
  • Preferred experience in basic automation and CRM’s like Close.io, Pipedrive, Salesforce, etc
  • Part-Time Role. As a contractor of the company, you will be responsible for your own medical benefits, taxes, office, and other expenses, unless deemed expense-able otherwise.

Benefits

  • Conference and travel expense reimbursements (subject to prior approval)

If interested, please apply here.

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Written by sandeepashah

November 8, 2019 at 5:52 pm

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