The Vice President (VP) will be responsible for leading venture and growth capital investment activity for National Grid. The VP’s efforts link to activities associated with National Grid’s existing and emerging businesses in areas such as digitalization, distribution, and de-carbonization. The investment themes include: 1) Big data, analytics and artificial intelligence to take advantage of the massive digitization of consumer and enterprise data to improve company operations and enhance customer service, 2) blockchain technologies to deliver secure transaction ledgers for business operations and to enable integration with off grid producers, 3) industrial IoT for monitoring grid performance and enabling smart cities, 4) industrial wearables to improve productivity of field employees, 5) renewable technologies and energy distribution and storage solutions for enhancing core operational businesses, etc.
The VP will have access to a large sum of capital over the next 3 years to deploy for venture and growth equity investing. The VP will hire and employ an experienced team of professional investors to find, develop, define, and close equity investments that support strategic objectives of various new and existing businesses within National Grid and to produce strong financial returns, as measured by internal rate of return and cash on cash contributions from the investment porfolio.
The VP should help National Grid grow by gaining access to disruptive technologies and business models (lighthouse effect), gain visibility into disruptors that could challenge our business, build our network and gain access to new talent and business relationships, access expertise in emerging areas that can support our due diligence processes and de-risk innovation through equity enabled partnership structures. The VP should also increase our reputation and thought leadership around innovation and help build out our M&A and Business Development pipelines.
- Recruiting and managing an experienced team of professional investors with a minimum of 5 years investing experience in venture and growth capital with a proven investment track record as measured by net positive gains and a strong IRR and cash on cash contribution across relevant technology sectors
- Defining investment strategies for each strategic area and using those strategies to inform behaviors around sourcing, screening, and leading potential equity investments in global companies relevant to National Grid’s existing and future capabilities.
- Advising senior management and the board of directors about about the merits of potential deals and their relevance to National Grid in the near and long term. Obtaining internal agreement on negotiating positions and strategies and closing investments.
- Helping to define the investment process and then championing an appropriate number of deals through the process and assuring meaningful engagement where appropriate with the business units and with our business development team on activities such as annual summits, technology days, and portfolio days.
- Sourcing and leading category defining deals that have substantive impact for a business unit or that lead National Grid into new investment areas. Allocating investment capital to “path finding” and “eye and ears” categories to assure that National Grid stays ahead of the current market trends and has a eye on the long term future of the company.
- Providing strategic guidance, management insight, and funding round assistance to improve the likelihood of National Grid realizing the strategic and financial benefits from its equity investments.
- Acting as part of the external negotiating team responsible for deals from initiation through closing, and post-closing management. This position requires a high degree of interaction with organizations outside the company and at the executive level.
- Managing the Energy Impact Partners Limited Partner relationship and the direct investment in Enbala.
Knowledge & Experience Required:
- Undergraduate degree in Business, Science or Engineering preferred. Advanced degree / MBA required.
- A strong strategic thinker, with the ability to see the big picture, but also address shorter term more tactical issues. Strategic ability should be balanced by a strong understanding of the operational and commercial challenges faced by a business and the factors which can derail the successful implementation of a strategy. Entrepreneurial experience at a technology start-up is ideal.
- Experience in the energy sector and understanding of the regulatory / technology / business issues impacting the industry and future trends, including internal and external influences.
- Highly technology literate, with significant experience of understanding the business and strategic implications of technology change.
- Full understanding of the venture capital / private equity investment as it relates to emerging technologies and business models.
- Ability to identify diverse sources of information inside and outside National Grid and develop an understanding of the market from their composite pieces. Lead business/technical due diligence and business/technology evaluation of pipeline companies.
- Solid understanding of financial modeling and emerging technologies. Clear and concise communication with stakeholders. Understanding National Grid’s strategy and vision as it pertains to corporate venture capital’s impact on the businesses.
- Marketing and Business Development Skills – Identifying new, relevant companies that we can partner with by investing and helping them to scale their businesses and to achieve a profitable exit. Sourcing and closing equity deals, and completing due diligence, valuation assessment, deal negotiations, and recommendations for equity investments.
- Full understanding of the strategic partnering landscape and development of successful strategic partnerships.
- Comfortable working in a matrix organization with multiple stakeholders and in an environment where results need to be achieved through influence rather than line management authority.
- Ability to build strong relationships across all levels within an organization
- Demonstrate high level of (EQ), as well as technology (IQ), in order to effectively interface with all aspects of National Grid’s business.
- An ability to challenge entrenched thinking in a constructive manner; a willingness and openness to receiving similar challenge. Significant flexibility in personal style with the ability to comfortably act as a leader and a facilitator and the ability to effectively judge when each is required.
- Ability to build and motivate a high performing team, deliver excellent performance and manage a team to do the same with a strong focus on personal development and on the development of his/her team.
- Drive for results and take appropriate risks; drive a balanced performance which delivers today while creating the future.
- The role offers the opportunity for the right individual to move to other, non-venture capital roles within National Grid.
If interested, please apply here.