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Yet Another (ex-)VC Blog

Venture Capital Jobs

VC Internship @ Newchip in Austin, TX

Newchip is an investment aggregator and search engine for alternative investments such as Reg CF, Reg A+, and Reg D 506(c) that allows comparison of investments into startups across multiple industries. Think Kayak or Priceline for investments. We connect our users to investments based on their interest, preferences, and goals.

Our Mission:

Entrepreneurism is the #1 global factor for improving social mobility, creating jobs, improving access to education and healthcare. Our mission is to change the world by connecting entrepreneurs around the world with the capital they deserve to make their dreams come true and, most importantly, provide returns for their investors. 

Industry Background:

The Jumpstart Our Business Startups (JOBS) Act was passed on April 5th 2012, as bipartisan support of entrepreneurship and small business growth. It is designed to encourage small business and startup funding by easing federal regulations and allowing individuals of many different economic backgrounds, to become investors. As impact goes, it was one of the largest changes to the business financing environment in over 75 years.

Since the passing of the JOBS Act, new marketplaces have opened up that act as the Broker Dealer, or funding platform. These marketplaces are some of the most important online equity creators for startups and small business owners, as they act as the means by which accredited and non-accredited investors alike, invest in startups and small businesses that need capital to grow out their business, operations, or product.

Market Size:

According to Crowdnetic, a crowdfunding and marketplace lending researcher, more than 6,000 U.S. companies have raised a total of nearly $1.4 billion in investor capital using these mediums since 2013. These numbers do tell: the JOBS Act opened up dried up capital for American dreamers and is allowing the crowd to decide which ideas work and which don’t. 

We’re at the precipice of a major global change in how people invest, how they interact with financial institutions, and manage their money. The U.S. industry alone is projected to have a global market cap of one hundred billion dollars by 2025. Newchip is perfectly positioned to gain a large piece of the market and we’re building a team to go all the way with us to achieve it.

Newchip video introduction: https://www.youtube.com/watch?v=d9zMfS9jNDs.

JOBS Act SEC website: https://www.sec.gov/spotlight/jobs-act.shtml.

About you…

  • You have experience with startups and venture capital
  • You have a passion for startups, and technology
  • You are analytical and can do independent research on the internet
  • You have excellent written communication skills
  • You are outgoing and can talk to just about anyone

About Our Internships

Intern positions are available immediately and typically last 3 – 4 months. We are accepting interns who can devote at minimum 20 hours per week but prefer 40 hours. We are flexible with schedules but interns may not work remotely. Our primary goal for our interns is education and the potential for new hires. We accept internships in the Fall, Spring, and Summer, but reserve the right to forego classes due to structural priorities.

Our aim is to encourage entrepreneurship and buffer the ecosystem that supports it. We hope our interns gain practical skills and real-world knowledge they can apply in the industries they’re interested in.

Role Overview:

As a Venture / Financial Analyst Intern, you will be responsible for reviewing funding applications, nurturing companies through the selection process, and helping Newchip and it’s partners select companies for our portfolios. You will collaborate with our finance and biz-dev team to research and uncover investment opportunities to enhance your investing acumen. The ideal candidate will have meaningful exposure to private company investing and a passion for quantitatively and qualitatively evaluating investment opportunities in the venture capital landscape.You will be the one to ensure that our selection funnel is a well-oiled machine, moving the gears, and ultimately helping our companies be successful.

The area of responsibility for this role is very wide and thus requires thorough knowledge and most importantly a passion to learn and be involved in various company processes from both a strategic and execution standpoint. To be successful in this role, you should have extensive knowledge in the startup scene, finance, and CRM software. Ultimately, you will help ensure we only work with companies that fit within ours and our partners business objectives.

This internship will propel your career opportunities forward by giving you exposure and real responsibility to make an impact on a growing team. Prior interns have spent time supporting portfolio companies by assisting with financial models and pitch presentations while also researching new opportunities in FinTech.

You will help with…

    • Managing the Newchip application process
      • Send out interview invitations
      • Collect and prepare the presentation decks
      • Coordinate 1-on-1 interviews, both for selection and intreviews
      • Score and rank applications for selection
    • On-boarding all new Newchip companies
    • Keeping Portfolio Overview documents up to date (weekly)
    • Maintaining all social channels and contact lists
    • Assisting with Social Media
    • Coordinating On-boarding Events such as:
      • Company Orientations
      • Company Interviews

Responsibilities

    • Your primary focus will be around identifying, researching and communicating best practices for crowd-investment success for our portfolio of companies, and helping to nurture new companies through the selection process.
    • You will help our portfolio companies meet the challenges of scaling their businesses as well as their campaign success by building a relevant network of executives, service-providers, corporates and growth stage investors.
    • You will help organize meaningful events for our portfolio and bring leaders together to share what they know via our community and webinars.
    • You will always be learning. One of your biggest challenges will be how to operationalize our transfer of knowledge and facilitate knowledge-share to and from time-strapped founders.
    • You will help out on other related duties to meet the ongoing needs of Newchip, some of which we don’t know about yet, and some of which you will help to define.
    • You will have the opportunity to perform due diligence research on potential portfolio companies, design and execute marketing and biz-dev plans, attend business related events and conferences, and observe applicant company pitches.

 

Desired Skills and Experience:

  • A bachelor’s degree in finance, business administration, economics, accounting, and or MBA, (graduated or graduating in the next 12-24 months)
    • Ambitious and flexible, prepared to frequently step out of your comfort zone, work hard to deliver the team’s goals, and have a desire to create a positive, happy work environment.
    • A strong drive and the ability to self-direct, especially on multiple projects at any one time. Our work and time is open-ended by nature and you must be able to identify and execute on opportunities to contribute to the team with little, if any, management or direction
    • Personable, engaging and able to build relationships quickly and easily.
    • Able to research, assimilate and communicate complex ideas clearly and succinctly in writing and verbally. You will see the big picture, and you’ll sweat the tiniest details.
    • A leader, and are able to initiate change with an ability to listen, counsel and coach.
    • Have had exposure to the technology industry within a startup, leading technology company or consultancy.
    • Have an outstanding network in the US startup scene.
    • Graduated from a leading university with an excellent academic record.
    • Underwrite and evaluate investments based risk and return fundamentals
    • Assist with deal structuring and the evaluation of term sheets
    • Prepare discounted cash flow analyses, competitive market analyses and development model analyses for current and pipeline opportunities
    • Join meetings with current and pipeline company management teams and co-investors
    • Assist in the preparation of pitch decks for companies
    • Limitless curiosity about business models, competitive dynamics and innovation
    • An interest in diving deep in more than one investment category, gaining exposure to companies across the financial technology landscape including cryptocurrency, trading platforms, data businesses and technology companies.
    • Passion for high quality work and the ability to relentlessly pursue continuous improvement
    • Interest in pursuing personal and professional growth by learning new principles
    • Familiarity with Microsoft Office — specifically PowerPoint and Excel
    • Have been an assistant or played a support role at a previous organization
    • Passionate about working in the Austin startup scene and helping companies succeed.
    • Organized and plan ahead, but you don’t get stressed out when things change at the last minute. Because they will. You roll with it.
    • Write things down. You document your process and maintain records so that if you got hit by a bus we we’ll be very sad but still able to continue operating.
    • Are professional and presentable and greet everyone cheerfully.
    • Have a reliable laptop computer and smartphone.
    • Are security aware. You have a passcode on your computer and phone and use a password manager.
    • Comfortable with the Google Apps suite of products. You’re eager to learn about new tools and ways to be more productive.
    • Get to Inbox Zero every day.
    • Don’t gossip and have discretion.
    • Have a cover letter and resume that demonstrates strong attention to detail and appreciation for a polished product.

 

Benefits:

  • Starting pay of $15-$30 per hour up to 20 hours per week depending on level of experience (room for growth into a full time position that will help launch a new type of venture fund)
  • Competitive paid time off (vacation, sick days, and public holidays)
  • Potential for full time hire with industry competitive salary + equity stock options
  • Free weekly lunches, plus endless snacks and drink supply
  • Regularly planned team outings and company events
  • Stipend for training and career development
  • Opportunity to make a meaningful impact in a revolutionary space

 

If interested, please apply here.

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Written by sandeepashah

December 13, 2018 at 3:37 am