AVG Managing Partner, First Check Fund | San Francisco, CA
Alumni Ventures Group is a fast-growing organization with 100 employees across the country and a widespread, engaged community of over 400,000 entrepreneurs, investors, and supporters. We are disrupting financial services by bringing smart, simple venture investing to 15 million accredited investors who were largely shut out of this asset class until now.
Our headquarters in Manchester, NH provides back-office support and resources to our fund teams in Boston, New York City, Chicago, San Francisco, and Austin, TX. On an annual basis, these teams raise funds from their respective communities to invest in diverse, promising ventures. Our key competitive advantage as an investor is the combined scale and connectivity of our vast network, which provides capital, sources deals, and assists our portfolio companies. AVG has successfully launched 25 venture funds, on its way to 30+ over the next few years. We are private, for-profit, and not part of any school.
As AVG and our First Check Fund continue to grow, we are looking to extend our seed investing and community building capacity. To that end, we're seeking an experienced, full-time Managing Partner who will contribute to our investing (deal sourcing, recruiting, researching, evaluating) and community building (fundraising, community engagement, relationship development) capabilities. The successful Managing Partner at the First Check Fund will help build out AVG’s seed ecosystem, increase the annual fundraise, and tap a robust network in California and across the country to source, access, and complete 30 unique, seed investments each year.
This is a full-time position based in our San Francisco, CA office. As Managing Partner, you will report to and work closely with the Investment Team (iTeam) Board, comprised of AVG’s CEO, CIO, CCO and COO, plus collaborate with a dedicated Principal (located in AVG’s NY office). This is a salaried position, with a comprehensive benefits package, and some travel as defined by the iTeam Board for the successful execution of your responsibilities.
- Undergraduate degree required, MBA preferred
- Significant VC investing experience with substantial experience in early/seed stage investing
- Ability and willingness to build community and raise capital
- Entrepreneurial DNA
Requirements for an Ideal Candidate
- Strong influence and connections in the seed investing ecosystem, especially in California. Ready and able to engage a network of venture and startup professionals who can provide you and First Check Fund access to a high number of exceptional early/seed stage investing opportunities.
- Experience and comfort with engaging UHNW individuals, successfully managing relationships and increasing investor participation through strategic communications, event planning, referrals, direct outreach, and other means.
- Strong ties to academic and incubator communities at the leading edge of the startup scene.
- Ability to quickly garner credibility, respect, and trust from complete strangers.
- Highly organized and detail-oriented, balanced by ability to get and communicate big picture.
- Experience successfully managing multiple, complex projects at the same time.
- Excellent work ethic and professional demeanor.
- Strong writer and communicator, excellent listener.
- Strong interest in emerging technologies and innovation, demonstrated by a professional track record of meaningful involvement in the startup space and personal interest and involvement with cutting-edge technology.
- Experience advising, consulting, and valuing emerging companies and/or new technologies.
- Exceptional financial and venture acumen:
- Strong research and analytical skills, particularly venture investing
- Experience in company research and due diligence preparation
- Familiarity with deal structures and closing processes (ability to read, analyze, and assess term sheets)
- High level of gravitas and understanding of how the venture community functions and AVG’s place within it
- Domain expertise in one or more tech/startup sectors
- Able to successfully engage a network of accredited investors interested in AVG’s mission and products
- Demonstrated success identifying and engaging investors or customers
- Capable and skillful in representing a seed-stage portfolio to potential investors
- Experienced and adept at planning and facilitating meetings and calls to engage and educate stakeholders and conducting the appropriate follow-up and closing actions
- Proven ability to develop a network and reach sales or fundraising goals
- Superior relationship development/management skills with a comfort and desire to regularly interact with potential community members
- Ability to turn a meaningful community member into an engaged investor through strong communication and repeated demonstration of AVG’s value
- Track record of being able to build productive professional relationships
- Self-starter and independent manager, but good team player and personnel manager
- Smart, creative thinker and problem-solver, fast learner, with demonstrated initiative
- Experience communicating and collaborating with HQ/other teams to achieve goals, compliance, and open communication
- Assist in the coaching of junior resources
Role / Responsibilities
- Serve as the primary face of the fund, driving community growth by engaging new investors and increasing the participation of existing investors, managing all relationships in a professional, courteous manner
- Meet or exceed regular, periodic goals as established through collaboration with AVG’s appropriate functional departments (Community, Office of Investments, Office of the CEO), including:
- Increase First Check Fund’s annual fundraise
- Sponsor ~30 unique deals ($25k-$100K investments) each year
- Directly or indirectly author bi-monthly “AVG Deep Dives,” research reports educating the greater AVG team on niche investment sectors and opportunities
- Establish, manage, and grow personal relationships throughout the venture community and beyond
- Educate deal sources, companies, and entrepreneurs about AVG’s process
- Identify top-tier deal resources and conduct outreach to VCs, entrepreneurs, incubators, and additional entities as appropriate to help cement consistent deal flow for the fund and AVG
- Supervise and direct the fund’s investment pipeline and management of deal opportunities
- Oversee and manage due diligence
- Help research and evaluate each company and industry as a potential investment, including the company’s team, competitors, and customers
- Own and manage the Investment Committee relationship: recruiting IC members, presenting companies to IC, running AVG’s Turbo approval process, etc.
- Leveraging AVG’s Portfolio Services where appropriate, work to develop relationships and further opportunities with important portfolio companies across FCF’s portfolio
- Own the relationships with the Fund’s investors and potential investor outreach
- Lead and close conversations and meetings with Fund investors
- Nurture your community by holding meetings, attending events, and working with HQ to determine and execute on additional community engagement opportunities
- Manage the First Check Fund team, directing, coaching, and mentoring team members, including Venture Fellows
- Effectively leverage and utilize the resources available via AVG corporate, both human (e.g., Venture Fellows, Interns, HQ functional departments) and operational (e.g., Deal Portal, HubSpot)
- Be an exceptional teammate and partner for the fund, your sister funds, and colleagues
- Adhere to AVG policies and procedures regarding conduct, job performance, information management and administrative functions, communicating appropriately regarding any need for exceptions
- Suggest improvements to our approach, process, products, and services to the iTeam Board
- Help supervise back-end functions, as needed