Managing Partner of Chestnut Street Ventures, a Venture Fund for UPenn Alumni
We are seeking a new Managing Partner for our UPenn alumni-based venture capital fund, Chestnut Street Ventures. Using our unique venture model, the Chestnut Street Ventures MP is responsible for both raising and investing capital within the UPenn alumni eco-system. Chestnut Street Ventures, like its sister funds, aims to provide alums access to a diversified venture portfolio of high-potential companies while connecting fellow alums around a common interest.
This is a full-time position located in our New York City Flatiron based office. In addition to the strong support you receive from the Alumni Ventures corporate team, you will be backed by a salaried number two focused on deal sourcing and due diligence, as well as an external Investment Committee, and a series of Fellows who will help you grow Chestnut Street's success.
Chestnut Street Ventures is a 1.5 year-old venture fund that has already raised and fully deployed its first fund. You will join the current Founding Managing Partner, to help her in her continued efforts to raise and invest Chestnut Venture 2. Upon the completion of CSV 2, you will take over the responsibilities as MP of Chestnut Street Ventures.
If you are an entrepreneurial alum, with venture investing experience and are intrigued by this opportunity, we'd like to talk with you.
Our ideal candidate will have many of these traits and be able to recruit strong supporters in areas where he/she might need support.
- Must be a UPenn Alum (undergrad connection preferred)
- Venture investing experience
- Committed to operating this as a full-time venture
- Located near, or willing to relocate near, our regional office in New York City
- Entrepreneurial DNA
Requirements for an ideal candidate
- Top-tier MBA
- Strong influence and connections within the UPenn alumni community
- Good VC network to foster deal flow
- Experience in a start-up environment
- High-energy, engaging personality with a passion for growing and maintaining relationships
- Data-driven professional with interest in analyzing beyond the surface of the information
- Excellent communicator in person, on the phone, and in writing
- Passionate about innovation and entrepreneurship
- Interest in helping grow Alumni Ventures Group
- Outstanding analytical skills, detail oriented, proactive, and self-motivated
- Natural networker who is both engaging and confident
- Strong financial acumen
- Credible, trustworthy, with a high-level of gravitas
- Organized, with a natural desire to analyze complex opportunities, prioritize, and deliver results
- Report directly to AVG's New York City Executive Partner
- Own CSV's portfolio creation, sourcing of investment opportunities, overseeing due diligence, and executing deals
- Initiate and build long-term relationships with lead investors (VC and PE groups) that span stage, geography, and industry focus
- Hire (with HR's lead), train, manage, and develop your team
- Work closely with the Alumni Ventures team to leverage our knowledge, systems, processes, and staff
- Assist Alumni Ventures with investor outreach and marketing initiatives to your community
- Recruit and vet a core nucleus of ambassadors and other stakeholders, complementing your own skill set and experiences with those of others
- Interact with school and business departments/incubators in particular to build cordial relationships
- Represent the fund to strategic partners, press, entrepreneurs, and the general public
- Help define and lay the groundwork for each subsequent annual fund
- Base Salary
- Competitive Benefits
- Equity in AVG
- Carried Interest