It is an exciting time to join ABB Power Grids. ABB and Hitachi have signed an agreement to create a joint venture (JV). By combining ABB Power Grids’ with Hitachi’s complementary strengths, we plan to form a new and stronger global leader in the power sector. ABB Power Grids and Hitachi will have more than 230 years of combined heritage and experience. Together, we will be well-positioned to shape the future of energy, with pioneering technologies, as the partner of choice for enabling a stronger, smarter and greener grid. The transaction is expected to be completed by the first half of 2020, subject to regulatory approvals. Join us on this exciting journey.
ABB Power Grids is currently seeking a Venturing Lead for its San Jose, California location. This position will ensure that Power Grids is an active and respected player in the electricity related start-up eco-system. The individual will facilitate the delivery of value from the start-up and venture capital fund investments into the Business Lines and vice versa by driving collaboration.
- Pro-actively build & maintain a network of external contacts in the electricity start-up eco-system
- Work with the Business Lines to identify a prioritized short-list of areas where start-up investments would bring strategic value
- Continually maintain a ranked list of attractive start-ups in each of the prioritized areas
- Close direct investments in a small number of start-ups annually. Ensure that there is a robust collaboration plan agreed in parallel with the investment (between the start-up and the Business Line)
- Actively manage the direct investments in the portfolio, ensure that the Business Lines are actively collaborating with the start-up in line with the agreed collaboration plan
- Seek to resolve issue with the start-up and / or the collaboration plan as they arise
- Identify & document market, competition and business models learnings and share with the wider Power Grids
- In addition to direct investment Power Grids should also make investments in clean tech / electricity industry focused funds, candidate funds should be identified and Due Diligence should be performed.
- Actively manage the portfolio of VC fund investments, seek to develop strategic collaboration between the other strategic LPs, the start-ups in the fund’s portfolio and the Power Grids Business Lines
- Actively seek & share strategic learning from the other strategic LPs
- Ensure that the portfolio delivers a positive financial return (greater than Power Grids cost of Capita) , whilst maximizing the strategic benefit
- Bachelors Degree in Business, Finance, Engineering, or technology related degree, with an MBA or Masters in business/finance preferred
- A minimum of 3 years’ experience of VC investing in B2B start-ups
- Venture Capital investing experience directly and via VC funds
- Experience leading and performing technical and financial Due Diligence of start-ups and VC funds
- Ability to network effectively inside and outside of ABB
- Strong written and oral communication
- Ability to understand & work with VC Term Sheets and legal documents
- Ability to develop business forecasts and valuation models In Excel
- Candidate must already have a work authorization that would permit them to work for ABB in the United States
More about us
Bring your very own sense of pride and purpose as you help us drive forward the Fourth Industrial Revolution – creating a sustainable future for our planet, and your career. Join ABB and harness the power of our diverse global network, as you collaborate with and learn from our world-class teams. Above all, challenge yourself every day. Let’s write the future, together.
Equal Employment Opportunity and Affirmative Action at ABB
ABB is an Equal Employment Opportunity (EEO) and Affirmative Action Employer encouraging diversity in the workplace.
If interested, please apply here.