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Investment Director / Global Opportunity Pennsylvania Fund II and Global Opportunity Philadelphia Fund I

Full Time

Deadline: Open until filled. Please submit a cover letter and resume.

 

Ben Franklin Technology Partners of Southeastern Pennsylvania (Ben Franklin) is a mission-driven nonprofit organization that combines the best practices of venture capital investing with a higher purpose – to lead the region’s technology community to new heights, creating jobs and transforming lives. 

Ben Franklin is one of the nation’s leading venture development organizations (VDOs). Nationally ranked among the most active seed and early-stage investors, Ben Franklin works to help high-growth innovative enterprises plant and nurture their roots, supporting more than 2,000 companies to create both immediate connections and growth opportunities, while delivering an economic impact of more than $5 billion and 32,000 jobs in the Philadelphia region. 

Ben Franklin’s second for profit fund, Global Opportunity Pennsylvania Fund II (“GO PA Fund” or the “Fund”), will make direct, growth-stage investments in Ben Franklin network portfolio companies across the Commonwealth of Pennsylvania that have a history of outperformance as a portfolio company, a follow-on round led by an institutional investment lead, and substantial upside potential. In 2019, Ben Franklin created GO PA Fund’s predecessor fund, Global Opportunity Philadelphia Fund I (“GO Philly Fund”) to make direct, growth-stage investments in Ben Franklin portfolio companies in the Greater Philadelphia region. 

 

Summary: 

The Investment Director is a senior manager of the Fund and is responsible for overseeing all aspects of the Fund’s day to day activities, including identifying potential investments; managing the technical and business due diligence process; and planning, coordination, management and execution of the Fund’s investment activities (including the sourcing, evaluation and management of investments across a diversified portfolio based on technologies such as AI, therapeutics, robotics, advanced manufacturing, agricultural technology, diagnostics and digital health). As part of such day-to-day activities, the Investment Director will negotiate financial and non-financial terms (both during and after the initial investment stage, in transactions such as conversions of debt to equity and mergers and acquisitions), finalize investment documentation, and deploy or direct provision of management support to the Fund’s portfolio companies. 

The Investment Director also will collaborate with the investment professionals at each regional Ben Franklin to identify growth stage investment opportunities, organize the due diligence materials, review and structure investment documentation, and provide ongoing support and reporting. The Investment Director will also coordinate and support the internal deal champions and target management teams through the review process. 

The Investment Director also will manage the fully invested GO Philly Fund. 

Fundraising is not required for this role but is preferred. 

 

Essential Duties and Responsibilities

 

Administrative & Management 

• Manage and supervise the investment activity for the GO PA Fund, including conducting regular meetings, approving special projects, regional site visits across the Commonwealth of Pennsylvania, and monitoring progress and results. 
• Manage and supervise the investment activity for the GO Philly Fund, including conducting regular meetings, approving special projects, regional site visits across the Greater Philadelphia region, and monitoring progress and results. 
• Manage external consultants (due diligence, portfolio management, others as appropriate), including execution of contractual agreements. 
• Work with senior management and investment professionals at each regional Ben Franklin to identify potential investment opportunities. 
• Work with Finance to ensure all appropriate reports are submitted and all appropriate requirements as requested by auditors. 
• Prepare and present reports as may be required for the organization’s stakeholders, such as the Board of Directors and its committees, the Commonwealth of Pennsylvania, and the limited partners of the funds. 
• Organize, manage and lead limited partner meetings. 

 

Investment Process Management 

• Identify potential investment opportunities in growth stage companies across the entire Ben Franklin network. 
• Creatively develop and execute outreach strategies to seek out appropriate investment prospects in the Ben Franklin network portfolio, and work with regional investment professionals to assess their viability for the Fund. 
• Review proposals, identify key business issues, and assign and supervise in-house due diligence reviewers. 
• Lead the internal investment review process and assist the GO PA Fund’s Investment Committee with their review and approval of investment opportunities, including preparation of memos for the GO PA Fund’s Investment Committee, participation in GO PA Fund Investment Committee meetings, and any other requests or requirements. 
• Lead the internal investment review process and assist the GO Philly Fund’s Investment Committee with their review and approval of investment opportunities, including preparation of memos for the GO Philly Fund’s Investment Committee, participation in GO Philly Fund Investment Committee meetings, and any other requests or requirements. 
• Supervise the negotiations and preparation of contracts and other documents required to initiate investments. 

 

Post-Investment Management 

• Monitor portfolio company compliance with terms and conditions of investments, including ensuring receipt of appropriate ongoing compliance documentation, such as final reports, commitment letters, and performance impact surveys. 
• Conduct portfolio company site visits, as needed. Manage portfolio management reports detailing business issues. 
• Represent both funds as an observer on portfolio companies’ boards of directors. 
• Manage relationships with limited partners, including quarterly meetings, reporting, capital calls, taxation materials, and distributions. 

 

Requirements: 

• Minimum of five years’ experience in venture capital, private equity, or venture banking. 
• Master’s degree or Doctorate degree is preferred. 
• Fund raising experience is preferred but not required. 
• Demonstrated proficiency handling multiple, complex projects, both collaboratively and independently; highly self-motivated. 
• Ability to work with multiple internal and external constituencies, with strong leadership abilities. 
• Willingness to learn and grow, including remaining up to date on venture capital and technology related developments. 
• Strong problem solving, analytical and troubleshooting abilities. 
• Travel up to 30% of the time is expected. 
• Strong proficiency in Microsoft Office applications (Word, Excel, Outlook, Office 365, SharePoint). 
• Excellent written and verbal communication skills. 
• Excellent time management and interpersonal communication skills. 
• Demonstrated ability to build and foster collaborative relationships; record of successful collaboration with others to achieve significant business objectives. 

Benefits of Working for Ben Franklin: 

Ben Franklin offers a competitive salary based on experience and skills and excellent benefits, including employer-paid health, disability, life insurance, retirement savings plan with employer match, flexible spending accounts, tuition reimbursement, and paid time off, including parental leave, professional development opportunities and much more! 

Additionally, the Investment Director may be eligible for carried interest subject to experience and expertise. 

 

Application deadline: Open until filled. Please submit a cover letter and resume. 

 

For more information, please contact Scott Nissenbaum, President and Chief Executive Officer – scott.nissenbaum@sep.benfranklin.org 

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Ben Franklin maintains an inclusive workforce, where employees are hired, retained, compensated, and promoted based on their contributions to our mission, free from discrimination, prejudice, and bias. We are committed to diversity, equity, and inclusion throughout our organization and our investment practices. Our collective strength is rooted in our values, where we support and honor our mission, appreciate and humbly serve our community and each other, demonstrate collaboration, and commit that “We Are the Change.” Candidates are considered for employment without regard to race, ethnicity, color, religion, gender identity or expression, sex, sexual orientation, national origin or ancestry, genetic information, age, disability, marital or familial status, veteran or military status, or any other status protected by applicable law.