Venture Investment Director at Wisconsin Economic Development Corporation in Madison, WI

Position Title: Venture Investment Director

Department: Entrepreneurship & Innovation

Reports to: Vice President of Entrepreneurship & Innovation

Position(s) Supervised: N/A

FLSA Status: Exempt (Benefits - Eligible Project Role)

*WEDC is a Wisconsin-based organization, with a remote-work first environment. Remote work is intended to be performed in the State of Wisconsin.

Position Summary

The Venture Investment Fund Director is responsible for managing the implementation of WEDC’s venture capital investment activities and programs. The position is responsible for managing investments in and in partnership with venture capital funds for the purposes of providing capital to early-stage business in Wisconsin and establishing a revolving source of capital for continued venture investments in Wisconsin start up businesses.

This position will act as the primary point of contact with WEDC committees, and private entities, including venture capital managers for the successful implementation and long-term impact of WEDC venture capital investments.

The position will, evaluate and communicate investment and portfolio metrics, build strong partnerships with internal and external stakeholders, develop and implement marketing and communications strategies, manage relationships and contracts with private sector investment managers, develop and implement short and long-term investment strategies, and ensure success of investments and programs.

The position supports WEDC’s implementation and evaluation of SSBCI programs and investments and serves as the primary point of contact between WEDC, Treasury, DOA, consultants, awardees, and other relevant parties. This project-based role is eligible for full benefits.

Responsibilities

The Venture Investment Director will spend a majority of their time in these activities:

Develop and manage a program and investment strategy that supports WEDC’s venture investment fund.
Provide thought leadership, support and collaboration with all Entrepreneurship and Innovation Division programs, initiatives and priorities, including venture debt and tax credit programs, high-growth startup activities, and entrepreneurship ecosystem partnerships, investments and engagement.
Develop quarterly and annual reports on venture capital trends (deals, sectors, fund managers, exits, etc.) broadly and specific to Wisconsin.
Lead conversations and expectations about dealflow, pipeline, and timing of future deals with fund managers.
Manage and update the investment fund pro forma, and portfolio metric calculations such as TVPI, IRR, and performance measures, along with program dashboard component monitoring .
Analyze and present industry and sector-specific trends, activity and opportunities in Wisconsin, regionally and nationally in collaboration with external leaders and WEDC research and policy teams.
Track and share out what other states are doing both with SSBCI venture capital and state-funded venture capital to benchmark.
Manage communications and collaboration efforts between WEDC, private sector finance program participants, startups, and other key stakeholders.
Collaborate with WEDC’s internal divisions and communicate project activities and progress across SSBCI initiatives and other high-growth startup priorities.
Work closely with WEDC program and marketing divisions to support Wisconsin Investment Fund portfolio companies, celebrate the highlights, and amplify the overall startup ecosystem.
Participate in ecosystem events including judging, scoring panels, mentorship events, and investor networking.
Ensure compliance with federal and state regulations.
Partner across the entrepreneurship and innovation division on divisional reporting, programs, partnerships and strategy.
Participate in regional and national technology-based economic development activities, events and conferences.
Compile and analyze data to meet federal and state reporting requirements.
Serve as WEDC’s primary point of contact with external venture capital funds, lenders, and other small business finance entities on project development, implementation, and management of individual venture investment capital program contracts and awards.
Support WEDC’s mission through the fulfillment of other duties as assigned.

Education and Experience:

Bachelor’s degree in Business Administration, Entrepreneurship, Economics, or related field or comparable education/experience/ training
Minimum of 3 years of working in a startup financial or investment management experience, project management, federal grant management, patent or licensing, or other relevant experience. Preferred 5+ years
Preference for experience in startup, early-stage investment, venture capital, investor relations, fund of funds initiatives, venture platform, federal research or grant management, technology commercialization or similar field.

Skills and Talents:

Strong attention to detail for transactional review and processing.
Strong interpersonal, written, and oral communication skills, including public speaking skills.
Strong customer relationship management skills.
Demonstrated knowledge of startup finance including venture capital, debt financing, and alternative financing mechanisms that support high growth companies.
Demonstrated ability to manage multiple projects; strong project management skills, planning, prioritizing, and organizing.
Creative problem solving through innovation, collaboration, and commitment to service.
Ability to independently organize and complete work, prioritize projects, and manage a variety of duties in a fast-paced, flexible work environment.

Other Requirements

State-wide travel may occur on an occasional basis, between10-20% of the time. Travel is anticipated to include day and overnight travel.
Possession of a valid driver's license and proof of auto insurance that meets minimum state requirements are required.
This position is eligible for reimbursement according to the Bring Your Own Device (BYOD) program.
This position requires the employee to provide a mobile device that allows for phone, text, and email access.
Based on the responsibilities of this position, this position may need to lift and/or move up to 10 pounds.

WEDC DIVERSITY, EQUITY, INCLUSION & BELONGING STATEMENT

WEDC must be a diverse and inclusive organization reflective of the businesses, communities, and people in Wisconsin and beyond. We believe that diversity drives innovation and commit to create an inclusive, equitable and diverse workplace where our differences are celebrated as drivers of our organization’s performance.

TO SUPPORT A DIVERSE AND INCLUSIVE WORKFORCE AT WEDC, WE WILL WORK TO ACHIEVE THE FOLLOWING GOALS:

Increase WEDC’s racial diversity, specifically with Black/African American, Native American and Latinx populations;
Increase LGBTQ representation across WEDC; and
Increase the diversity of WEDC’s leadership.

TO MEET OUR DIVERSITY AND INCLUSION GOALS, WEDC WILL TAKE THE FOLLOWING ACTIONS:

Create an intentional approach to recruit minority candidates by using targeted media channels to promote open positions;
Ensure formal offers are made only after a diverse pool of candidates have been considered at each hiring stage;
Identify and develop a variety of employee resource groups, including groups for African Americans, Hispanics and Latinos, LGBTQ+ and more;
Post signage to highlight WEDC’s commitment to diversity and inclusion; and
Revisit EEO disclosures in our application process to highlight statements regarding WEDC’s commitment to diversity, equity, inclusion and belonging.

Equal Employment Opportunity Statement

Wisconsin Economic Development Corporation is an Equal Opportunity Educational Institution and EEO/Affirmative Action Employer committed to excellence through diversity. Employment offers are made on the basis of qualifications, and without regard to race, sex, religion, national or ethnic origin, disability, age, veteran status, or sexual orientation.

Veteran Declaration

Applicants for employment are invited to participate in affirmative action program by reporting their status as a protected veteran or other minority. In extending this invitation, we advise you that: (a) workers (applicants) are under no obligation to respond but may do so in the future if they choose; (b) responses will remain confidential within the human resource department; and (c) responses will be used only for the necessary information. Refusal to provide this information will have no bearing on your application and will not subject you to any adverse treatment.
** PROTECTED VETERAN DEFINITION

Protected veteran means a veteran who may be classified as an active duty wartime or campaign badge veteran, disabled veteran, Armed Forces service medal veteran or recently separated veteran.

Active duty wartime or campaign badge veteran means a veteran who served on active duty in the U.S. military, ground, naval or air service during a war or in a campaign or expedition for which a campaign badge has been authorized under the laws administered by the Department of Defense.

Armed Forces service medal veteran means any veteran who, while serving on active duty in the U.S. military, ground, naval or air service, participated in a United States military operation for which an Armed Forces service medal was awarded pursuant to Executive Order 12985 (61 FR 1209, 3 CFR, 1996 Comp., p. 159).

Disabled veteran means (1) a veteran of the U.S. military, ground, naval or air service who is entitled to compensation (or who but for the receipt of military retired pay would be entitled to compensation) under laws administered by the Secretary of Veterans Affairs, or (2) a person who was discharged or released from active duty because of a service-connected disability.

Recently separated veteran means a veteran during the three-year period beginning on the date of such veteran's discharge or release from active duty in the U.S. military, ground, naval or air service.

* EEOC RACE/ETHNIC IDENTIFICATION CATEGORIES

Hispanic or Latino - A person of Cuban, Mexican, Puerto Rican, South or Central American, or other Spanish culture or origin regardless of race.

White (not Hispanic or Latino) - A person having origins in any of the original peoples of Europe, the Middle East or North Africa.

Black or African American (not Hispanic or Latino) - A person having origins in any of the black racial groups of Africa.

Native Hawaiian or Other Pacific Islander (not Hispanic or Latino) - A person having origins in any of the peoples of Hawaii, Guam, Samoa or other Pacific Islands.

Asian (not Hispanic or Latino) - A person having origins in any of the original peoples of the Far East, Southeast Asia or the Indian Subcontinent, including, for example, Cambodia, China, India, Japan, Korea, Malaysia, Pakistan, the Philippine Islands, Thailand and Vietnam.

American Indian or Alaska Native (not Hispanic or Latino) - A person having origins in any of the original peoples of North and South America (including Central America) and who maintain tribal affiliation or community attachment.

Two or more races (not Hispanic or Latino) - All persons who identify with more than one of the above races.