Principal for Alumni Ventures Group: Chestnut Street Ventures
Chestnut Street Ventures (CSV) is a part of Alumni Ventures Group, a fast-growing, 80-person organization that builds and manages alumni and focused venture capital funds. Our corporate headquarters, located in Manchester, NH, provides back-office support and other resources to our funds across the country. On an annual basis, these funds raise money from sophisticated investors to invest in venture and other alternative assets. AVG has successfully launched 20+ venture funds over the past four years and is looking to launch another dozen or so funds over the next few years. We are private, for profit, and not part of any school.
As Chestnut Street Ventures continues to grow, we want to continue to expand our investing capacity. To that end, we're seeking an experienced, full-time Principal who can initiate, develop and grow relationships with entrepreneurs at premier private companies. This will lead to the opportunity to source, evaluate, conduct due diligence and ultimately execute venture investments for Chestnut Street Ventures & AVG.
You'll be joining a fast-paced, professional, and entrepreneurial environment where you'll have significant input into the creation of a unique, diversified, fast-growing portfolio. You will be leveraging a well vetted playbook, back office support, and processes created by the parent company Alumni Ventures Group to help in executing your role. You will report to the CSV Managing Partner.
This is a full-time position based in our New York City (Flatiron) office. You will be a salaried employee of AVG, with a comprehensive and competitive benefits package.
- Must be a Penn graduate
- Venture Capital or direct investing experience is a plus
- 4-8 years of experience in venture capital, private equity, finance, or a leadership / business development role in an entrepreneurial organization.
- Experience working simultaneously on multiple projects and managing a high-volume of investment opportunities and entrepreneur relationships
Requirements for an ideal candidate
- Desire to build a career in venture investing
- Has been part of a successful small team or start-up organization and/or has led new projects or built initiatives from the ground up
- Communication skills:
- leverages a direct communication style to raise questions and name concerns early
- professional in written and verbal communication
- is able to engage a mature business audience
- Ability to quickly comprehend, evaluate and critique a venture’s business model, market opportunity and team
- Awareness of the venture capital community including leading investment funds and partners, historical successes and failures
- Strong analytical and financial analysis skills
- Demonstrated interest and experience in emerging companies, and experience in company research and due diligence preparation
- Curious and eager to learn, willing to take on new responsibilities at all levels with enthusiasm
- Experience successfully managing multiple, complex projects at the same time
- Good networker, with an ability to help grow our system and process for identifying investment opportunities
- Highly organized and detail-oriented, balanced by ability to get and communicate big picture
- Self-starter and independent manager, but great team player, preferably with personnel management experience
- Smart, creative thinker and problem-solver, fast learner, with demonstrated initiative
- Database management and strong technical and social media experience a big plus
- Network with Penn alums in the venture community
- Participate in the identification of deal sourcing targets (typically Series A, B or C stage)
- Support construction and evaluation of fund portfolio:
- Conduct outreach to VCs, entrepreneurs, incubators, and more to help fill our deal pipeline with prospects:
- Educate deal sources and companies/entrepreneurs about our process and effectively manage relationships in a professional, courteous manner
- Evaluate ~25 companies per week resulting in deep-dives on 3-5 per month and investment into ~25 per year to create a balanced portfolio across industry/sector, stage and geography
- Research and evaluate each company and industry as a potential investment, including interviewing company teams, competitors, and customers
- Work closely with sibling funds to identify mutual interesting investment opportunities
- Manage deal flow and related database inputs
- Develop and maintain proprietary deal and market intelligence
- Recruit, train, and manage interns/fellows to help support the fund
- Orchestrate and execute Investment Committee meetings
- Prep and distribute due diligence packages for the Investment Committee
(IC) and Alumni Venture Group sibling funds to review
- Present companies and respond to Managing Partner and LP questions
- As requested, assist with investor relations and potential investor outreach
- Help supervise back-end functions as needed
- Contribute positively to AVG's culture
Alumni Ventures Group (AVGfunds.com), is a dynamic, rapidly growing organization that builds and manages alumni venture capital. We pride ourselves on making a key asset class accessible to investors who were previously shut out of venture capital—and our rapid growth attests that we are addressing a real pain point for alumni investors. Our Manchester, NH, headquarters provides back office support (e.g., IT, HR, Finance, Marketing, etc.) and other shared resources to all our funds, located throughout the country. Unlike most VC funds that raise money from a handful of institutions, our funds raise money in smaller amounts from a large group of alumni. Our deal teams then invest in a diverse portfolio of rapidly growing private companies connected to alumni entrepreneurs of the same school. We don’t lead deals, but rather co-invest alongside top firms such as Sequoia, Andreessen Horowitz, Accel, Benchmark, Google Ventures, Kleiner Perkins, Bessemer, NEA, and others. We are private, for profit, and not part of any school.