TEDCO is an independent entity, established by the Maryland General Assembly in 1998, to facilitate the creation of businesses and support their growth in all regions of the State. TEDCO’s role is to be Maryland’s leading source of funding for early-stage, technology-based business; to provide other business assistance to entrepreneurs throughout the State; and to foster technology transfer and commercialization from the State’s universities and Federal labs. TEDCO is leading innovation to market in Maryland and contributing to a robust entrepreneurial ecosystem in the State through its various programs and funds.
The Maryland Venture Fund (“MVF” or the “Fund”) is an evergreen venture capital fund dedicated to investing in and growing the next generation of outstanding, technology-based businesses in Maryland. MVF partners with exceptional entrepreneurs and top-tier investment partners to help build sustainable, high-growth companies in Maryland. Assets under management total more than $100 million including direct investments and a Fund of Funds portfolio. The objective of the Fund is twofold: (i) to provide financial returns on its investments, and (ii) to generate an economic return to the State in the form of job creation, capital investment, attraction of additional capital to the State, and other contributions to the State’s technology ecosystem.
The Managing Director, Maryland Venture Fund, is responsible for defining an investment strategy and managing a diverse, inclusive investment team. This individual will provide thought leadership, the development of investment themes, structuring and execution of investments, and proactive management of portfolio companies. This position reports to the Executive Vice President of TEDCO.
Duties And Responsibilities Will Include
- Lead an investment team and develop an investment strategy that results in a diversified portfolio of high growth technology companies;
- Ensure the MVF portfolio meets the dual goals of financial return and economic impact;
- Build a venture network and maintain ongoing communication with key stakeholders;
- Ensure the MVF’s investments will catalyze strong syndicates among its venture network and attract additional investment capital into the State;
- Serve as a board observer for selected portfolio companies;
- Proactively find new prospective deals by building relationships with entrepreneurs, incubators, and other stakeholders of the Maryland innovation economy;
- Develop a strategy and action plan to be inclusive of entrepreneurs who are generally underrepresented in venture investments when sourcing deal flow;
- Perform due diligence such as customer and management references, market sizing and mapping, industry research, and competitive analysis;
- Craft investment memoranda and presentation materials;
- Manage the MVF program consistent with the intent of the Maryland General Assembly and ensure that MVF operates in compliance with Maryland statutes, and any applicable State and Federal regulations;
- Work with portfolio companies as required to enhance operations and performance, and support them on ad hoc projects;
- Support TEDCO’s other early-stage investment and non-investment programs to help foster deal flow for the Fund and a continuum of funding and support from pre-seed to Series A investments;
- Report quarterly on the performance of the MVF funds and the MVF portfolio as required by TEDCO’s Board, the MVF Authority, and any applicable statute or regulation; and
- Complete other duties as assigned.
- Bachelor’s Degree in STEM (science, technology, engineering and math), advanced degree in STEM, business, or law a plus;
- 8+ years leading and managing venture investments including building and managing an investment team;
- Excellent verbal, written, and interpersonal communication skills;
- Ability to make regular presentations to the management team, committees (including the MVF Authority), and the TEDCO Board;
- Unquestionable integrity and a high level of professionalism with all levels of team members, management, and portfolio company executives;
- Skill to lead an investment team with integrity and create an environment where your team feels included, valued, and supported to do work that energizes them;
- Accomplish management responsibilities which include sourcing and hiring talented team, providing ongoing coaching and feedback, recognizing and developing team, identifying and managing risks, and completing daily management tasks;
- Strong self-motivation as evidenced by past business goal achievement;
- Well-organized with strong time-management skills providing the ability to manage multiple projects concurrently; and
- Past experience in venture-backed startup, corporate finance, and/or strategy consulting a plus.
Please send cover letter and resume to RSVP@TEDCO.MD. Applications will be considered as they are received.