Director, NYS Innovation Venture Capital Fund (Biosciences) – Empire State Development
NYS Innovation Venture Capital Fund (aka New York Ventures) is a public sector venture capital fund housed within the Economic Development Agency of NYS. The mission of NY Ventures is to increase access to diverse founders, across the state of New York in areas of strategic importance to the state including clean energy/climate, advanced manufacturing, healthcare/life sciences, agricultural technologies, and IT/SaaS companies that have a public sector impact/fit. We co-invest with leading seed and Series A investors in high growth innovation startups.
BASIC FUNCTION
The Director will be integrally involved in all aspects of life sciences and other healthcare
investments and portfolio management activities for the NYSIVC Fund, including the identification of potential investment opportunities, due diligence, and post-investment monitoring activities.
WORK PERFORMED
The Director will be responsible for providing support to the NYSIVC Fund’s Managing Director and senior staff in all aspects of executing the fund’s investment strategy in the life sciences and healthcare sectors. NYSIVC invests in start-up companies across NYS. Our focus is to foster a start-up ecosystem that creates new opportunities for diverse entrepreneurs to build and scale meaningful businesses in the state.
Job responsibilities may include, but are not limited to:
- Participating in all aspects of the investment due diligence process for fund investments in the life sciences and healthcare industries including technical due diligence, market sizing and mapping, competitive market identification, financials review and industry research
- Developing and maintaining financial models related to VC financings, investment deal and company restructurings, valuation analyses, and liquidity events
- Preparing new investment deal review and presentation materials for the NYSIVC Fund Investment Advisory Committee and the ESD Board of Directors.
- Supporting and initiating active deal flow sourcing of new investments including participating in meetings with founders and entrepreneurs, attending relevant conferences and networking events, and maintaining deal pipeline records
- Represent ESD and/or NY Ventures at conferences and meetings, make presentations and participate in panel discussions regarding building and scaling startup companies
- Cultivate relationships with other investors (angel, institutional and/or strategic), and with other ESD and NYS employees involved in supporting start-up and growth companies.
- Oversight of investments in life sciences, healthcare and other companies as may be assigned including serving as board observer when appropriate, maintaining a strong relationship with CEO and/or other executive management members, tracking progress of the company and supporting the company in its growth, development and financing strategies.
- Maintaining the NYSIVC company portfolio – This includes collecting and reviewing quarterly financial information, maintaining investment data, preparing company updates, and constructing professional presentation materials.
- Assist in the analysis of the Innovate Fund-of-Fund’s portfolio (as needed)
- Outreach to NYS incubators, universities and other assets for deal sourcing and partnering.
- Working effectively with other colleagues within ESD and NYS to further the development of the work of NYSIVC and the Small Business and Technology Division including developing new programs that support startup companies.
- Others special projects as assigned.
Position expected to work onsite and/or remote consistent with NYS and ESD guidelines and needs.
EDUCATION & REQUIREMENTS
- Education level required: Minimum of a Bachelor’s Degree in life sciences, biological sciences or related field (or equivalent work experience in one or more of these sectors) required. Advanced Degree in Business, Law, Economics, Life Sciences or Public Policy preferred
- Equivalent Experience Knowledge Required: 3+ years of investment related experience at a PE/VC firm, or in the alternative two or more years of investment banking, legal or strategy consulting experience in life sciences or health care sectors.
- Strong knowledge and passion for life sciences technology and entrepreneurship. Solid writing and financial analysis background.
- Excellent interpersonal and networking skills with proven ability to develop and maintain effective business relationships.
- Analytical skill and ability to interpret data and provide relevant conclusions/recommendations.
- Excellent computer and organizational skills, ability to work with limited supervision and able to articulate ideas in a group setting
APPROXIMATE HIRING SALARY: $80,000 – $90,000 (w/ comprehensive benefits package) INQUIRE
Maria Gately – Sr. HR Manager – Human Resources Dept.
External Candidates: Send resume to resumes@esd.ny.gov, indicating job title in subject line and salary requirement in email body
Internal Candidates: Complete Posting Application and attach a copy of resume
WE ARE AN EQUAL OPPORTUNITY EMPLOYER COMMITTED TO DIVERSITY
Jenny Zemel serves as Manager, Special Projects where she provides interdepartmental support on a variety of projects for both the NVCA team and Venture Forward team. She also helps support the administrative needs of NVCA’s President and CEO Bobby Franklin.
