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Yet Another (ex-)VC Blog

Cloud computing, startups, and venture capital

VC Principal @ HSB Ventures in SAn Francisco, CA

Munich Re / HSB Ventures invests in and partners with innovative companies to develop growth opportunities for Munich Re, including its subsidiary Hartford Steam Boiler. Munich Re is the world’s largest reinsurance company, with a global platform spanning all aspects of primary insurance and reinsurance. Hartford Steam Boiler is a leader in equipment breakdown insurance and coverage for renewable energy and cyber security, as well as engineering-based risk management for businesses, homes and farms. 
Munich Re / HSB Ventures is responsible for corporate venturing activities that deliver both strategic and financial value through minority investments, business partnerships, and acquisitions. The focus is to grow our business by leveraging new technology-enabled products, services and data to serve our customers, as well as to identify emergent insurance gaps in the start-up ecosystem. Our current areas of focus include the Internet of Things, Cyber Security, Insurance Tech and Big Data/ Analytics and AI.

We are active investors who frequently lead rounds and our syndicate partners include top tier venture capital and corporate venture capital firms. Our portfolio includes relayr, Helium, Augury, Slice, Bought By Many, and other IoT and InsureTech companies. 
Internally, the team works hand-in-hand with leaders in the Businesses, Engineering, Product Development, Innovation & IT to craft the corporation’s growth and investment strategies. Externally, the team works with venture capital firms, incubators / accelerators, universities, entrepreneurs, and other corporations to develop technologies, companies and management teams that help us to strategically grow and transform our business. 

The Investment Principal will be a member of the investment team, with previous experience in corporate venture capital or venture capital, and will have responsibility for working in tandem with the Managing Director for end-to-end sourcing, negotiation and execution of deals, as well as post-close oversight of on-going relationships. In addition, as a member of the Ventures team, this role will help to develop key strategic themes with Munich Re and HSB businesses. The position is located in San Francisco, with frequent travel within the US and Europe. 

The Investment Principal will:

  • Partner internally with the Businesses & functional areas to understand and inform their strategy, evaluate specific opportunities, gain business sponsorship, and identify specific activities to deliver strategic value.
  • Develop strategic themes and actionable investment thesis in areas of strategic relevance to Munich Re and HSB, in collaboration with the Ventures team and businesses.
  • Network externally to generate deal flow and relationships for Munich Re and HSB.
  • Conduct due diligence on specific opportunities to assess attractiveness and structure relationship.
  • Lead negotiation, structuring, and execution of investments and partnerships, working with Managing Director and Business Sponsor.
  • Communicate investment / partnership goals for each opportunity to Managing Director & Investment Committee.
  • Assist in preparation of review materials and Investment Memos for Ventures’ governing bodies, including Investment Committee, Venture Advisory Board, and Functional Review Board.
  • Oversee on-going relationships with portfolio companies to enhance strategic and financial value for both Munich Re / HSB and the portfolio companies, including serving as a Board Observer.
  • Negotiate and communicate successfully with entrepreneurs, management teams, syndicate partners, and other stakeholders, including attorneys, advisors, consultants, and Board Members.
  • Represent Munich Re and HSB at various corporate venture capital, investment, and innovation conferences and topical industry events.
  • Lead internal Ventures’ events, i.e., Town Halls, portfolio reviews, and presentations to stakeholders across the company.
  • Develop key internal people to be effective partners for evaluation of opportunities, including sharing information on trends, conferences, and companies.

The successful candidate will be one part strategist, one part venture capitalist, and all parts master communicator and networker. 

  • Strategic Vision & Passion for Creating the Future: To be effective in this role requires gaining an understanding of Munich Re and HSB’s global insurance and reinsurance businesses, including business models, drivers of economic value, the insurance value chain, competition, risk transfer mechanisms and products, and regulatory environment. Individuals must be able to then build upon this knowledge to envision alternative futures and growth strategies for Munich Re and HSB and specific tactical paths to getting there, based on emerging trends, market dynamics, and evolving customer needs and partner opportunities.
  • Intellectual Curiosity: This role requires an innate and insatiable intellectual curiosity about business, technology, and business models. Active and constant monitoring and engagement with the innovation ecosystem is essential.
  • Experienced, Methodical Venture Capitalist & Business Developer: Candidates must have requisite financial and investment skills for the venture capital and business development processes, including due diligence, financial analysis, valuation, negotiation, contracts, term sheets LOIs, equity and debt mechanisms, standard terms and deal structures.
  • Superb Communicator & Relentless Networker: The position requires a high level of communication, influence and interpersonal skills in order to network, navigate, negotiate, influence, and execute internally with cross-functional teams and externally with multiple stakeholders and partners. The ability to develop and leverage internal and external global relationships and networks is essential.
  • Focused, Persuasive Decision Maker: Of paramount importance in this role is the ability to drive oneself and other parties towards decisions, including participating actively with appropriate courage and candor to accelerate decision making. Clarity and precision in communication is important, tempered by openness and adaptability. This includes maintaining a rational view of specific opportunities and advocating for the development of a broad portfolio.
  • Disciplined Adaptable Tactician: This role requires strong execution and follow-through in emergent and uncertain situations. The ability to be adaptable and problem solve in the face of evolving internal and external stakeholder agendas and changing priorities is critical.

Qualifications 

  • 5 + years of experience, including 3 years in corporate venture capital or venture capital, or working with emerging technologies or companies in corporate or business development
  • MBA preferred
  • Knowledge and fluency in emerging technology and business models in sectors relevant to Munich Re and HSB
  • Superior oral, written and visual communication skills
  • Superior proactive networking and relationship development skills
  • Proven teamwork skills both as a leader and cross-functional team member
  • Self motivated with high initiative
  • Willing to travel up to 50% of the time including internationally

If interested, please apply here.

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Written by sandeepashah

August 17, 2017 at 2:52 am

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