Innovation Works’ mission is to increase the success rate of the region’s technology companies and technology-adopting manufacturers by providing business expertise, direct investment, and hands-on support.
Job Summary
The Investment Manager will report directly to the Chief Investment Officer (CIO). The Investment Manager’s primary role will be to assist the CIO in managing the many transactions that occur within Innovation Works’ portfolio of companies on a day-to-day basis. This individual will be responsible for helping to maintain the various investment and portfolio related databases and sources that IW builds and employs, assist in maintaining follow-on investor relationships, and take on additional projects as required.
The Investment Manager will also support the Managing Directors in managing IW’s for-profit venture capital fund, Riverfront Ventures, LLC which shall include assisting in the performance of due diligence on prospective investment opportunities, drafting investment memorandum, assisting in managing the fund’s operations, including monitoring portfolio company performance and reporting to fund investors.
The Investment Manager will also assist IW’s in-house Legal Counsel with various legal tasks related to portfolio companies. The Managing Director is a key employee within Innovation Works and the position requires the highest level of integrity, responsibility, and organizational skills. The Investment Manager will receive broad experience in managing venture capital transactions, due diligence and legal aspects of private equity investments.
Primary Responsibilities And Duties
- Maintain IW’s portfolio company database of securities including debt, equity, warrants and other
- Keep up to date the IW master portfolio spreadsheet of external follow-on investments
- Assist Legal Counsel as needed
- Prepare documents for, attend and record and disseminate accurate minutes for all Investment Committee meetings
- Input quarterly investment data into data reporting services including Moneytree and Dow Jones, Pitchbook, CB Insights, Preqin, Mattermark, and Crunchbase.
- Manage updates and track IW investment and portfolio company financing activity in SalesForce
- Assist CIO in maintaining regular contact with potential follow-on investors
- Revamp and/or create high-level VC “pitch book” similar to investment banker style deal books
- Create and maintain a database of terms sheets
- Create and disseminate annual reports on financing trends
- Assist in managing issues around portfolio company collections and final reports
- Attend various venture/angel fairs and other events
- Support CIO in managing the investment funnel, prepping board materials, due diligence, etc.
- Update and maintain a database of investor contacts used for investor outreach efforts.
- Model all portfolio company transactions including note conversions, equity raises, note repayment plans, and acquisitions.
- Manage due diligence for Riverfront Ventures investments, create investment memos, and present to RFV Investment Committee.
- Manage Riverfront Ventures quarterly reporting process.
- Conduct valuations of all Riverfront Ventures portfolio companies as part of annual audit process.
- Lead efforts to connect IW portfolio companies with follow-on investors. Includes making connections to build IW’s network of investors; driving investor attendance to Demo Day, coordinating events to facilitate 1-on-1 meetings between portfolio companies and investors; and conducting “roadshows” to meet with investors in other cities around the Midwest and East Coast.
- Support the National Hardware Cup team in securing investor judges for regional competitions.
- Provide support to portfolio companies on financial topics including financial projections, fundraising strategies, term sheets, and connecting with investors.
- Hold regular office hours at AlphaLab and AlphaLab Gear to support companies on financial topics.
- Support the business development and marketing teams with data analysis to provide statistics and figures for grant proposals, website updates, press releases, annual reports, etc.
- Collaborate with EY to produce a comprehensive annual report on investment and exit activity in the Pittsburgh region.
- Attend “Meet & Greet” and “Lunch & Learn” meetings with investment candidates to support the deal screening and investment decision process
- Maintain a list of portfolio company revenues.
- Maintain a list of cash investments and a number of deals by the program, Fiscal Year, and Calendar Year, updated twice annually.
Qualifications And Requirements
- Minimum BS/BA, finance or scientific/technical degree preferred; MBA a plus.
- Preference for an individual with work experience and/or familiarity in the venture capital and/or entrepreneurial areas
Attributes
- Excellent written and verbal communication skills
- Ability to work with complex spreadsheets, databases, etc.
- Prior experience with Salesforce and/or similar CRM systems
- Strong analytical skills.
- Self-starter willing to take initiatives
- Strong sense of accountability and attention to detail
- Ability to juggle many competing priorities/deadlines
- Highest personal integrity and team-orientation
Complete Other Duties And Projects As Assigned.
Please submit qualified resumes to Kelley Benson, HR & Inclusion: kbenson@innovationworks.org.
