Managing Director – Bioscience Venture Capital Investments
Are you passionately engaged at the intersection between life sciences and early stage business? Cheered every time you help a remarkable new technology improve human health? Now’s your chance to have impact working with some of the most promising young bioscience companies at one of the most active early-stage strategic venture capital investors in the country. The Onstott Group is recruiting a proven and experienced Managing Director, Bioscience Venture Capital Investments, for Connecticut Innovations (“CI”). CI serves as Connecticut’s strategic venture fund, providing capital, introductions to corporate partners, and talent to some of the world’s most innovative startups. CI has $300M in assets under management and a portfolio of 200 companies. Notable exits in the last two years include BioHaven (BHVN) and Arvinas (ARVN). CI is seeking a high-caliber professional to help expand its portfolio and manage its existing companies from bench to exit.
This position is responsible for performing a variety of tasks related to bioscience initiatives, and must be a consummate team player. Activities may include, but are not restricted to:
– Sourcing prospects and educating entrepreneurs about CI;
– Working closely with academic spinouts from Yale, UConn, and other area universities that are producing unique, disruptive bioscience companies
– Evaluating and analyzing investment opportunities;
– Conducting due diligence relative to the prospect’s management, market, technology, products, competitive landscape, financial history and projections, fundraising, business strategy, and plan;
– Making recommendations about the company’s technology or commercialization potential;
– Analyzing company business plans and strategies, including recommended financial terms and structure;
– Structuring and negotiating financing terms of CI debt, equity, and equity-like financing in approved investment opportunities;
– Syndicating with other angel and venture investors;
– Preparing funding recommendations to the Connecticut Biosciences Investment Fund committees and closing on approved investments accordingly;
– Participating as a board director or board observer at portfolio company board meetings; making introductions to key partners, customers, CROs and investors;
– Managing a portfolio of investments and tracking/reporting metrics and milestones;
– Raising the profile of CI by disseminating relevant information internally and externally (e.g., by participating in external seminars, meetings and other opportunities involving public speaking); and
– Analyzing key data, including metrics, for CI and helping to develop methodologies to evaluate performance.
Qualified candidates must have, at a minimum, a master’s degree and seven years of experience in life sciences venture capital, or business development/commercialization experience in a high-growth, entrepreneurial biotechnology, diagnostics/precision medicine, medical devices, or pharmaceutical company, preferably venture-backed. An MBA may be substituted for one (1) additional year of the general experience. A doctorate in life sciences, biosciences, or a closely-related field may be substituted for one (1) additional year of the general experience. The ideal candidate will possess considerable knowledge of, and experience in:
– Venture-backed company formation, operations, and exits;
– Bioscience concepts and research; an understanding of various scientific and technological principles and applications;
– New enterprise formation and investment, with particular emphasis on the emerging bioscience
sector (i.e., pharmaceuticals, biotechnology, medical device, diagnostics, health IT);
– Venture capital investing;
– Commercialization of new technologies, business operations, and management oversight;
– Interpreting financial statements, institutional management reports, and other financial and legal documents; and
– Conducting market diligence; organizing and analyzing information obtained from the diligence
process; and negotiating, closing, and managing deals under a number of different instruments (e.g. grants, convertible debt, and equity).
Skills particularly relevant to one’s success on the team include:
– Excellent interpersonal skills and the ability to work with management and others, at all levels, internally and externally, high EQ is essential;
– Strong verbal and written communication skills;
– Considerable ability to exercise judgment and critical thinking;
– Considerable ability and willingness to function constructively as a participant on an investment team of peers and associates within a small organization, and also the ability to act on own initiative as appropriate;
– Considerable ability to work directly with the senior executives of portfolio companies;
– Considerable ability to respond flexibly and adapt to changing circumstances;
– Ability to multi-task and manage multiple concurrent tasks or projects; and
– Ability to recruit outside investors to co-invest in CI companies.
For further information, please contact:
Brian T. Kelley, Jr.
The Onstott Group
32 Field Point Rd
Greenwich, CT 06830