Investment Associate (New York & Bay Area)

WHO WE ARE:

Founded in 1995, TCV was established with a clear vision: to support and invest in high-growth technology companies that impact consumers’ and businesses’ everyday lives. Since inception, the firm has built a track record of backing private and public businesses that have defined their categories. TCV is a flexible, long-term-oriented partner that strives to be the hardest working, most-value-add investor for each of its portfolio companies.

TCV has raised ~$24 billion across thirteen funds, partnered with companies across more than 350 investments, has helped guide CEOs through more than 150 IPOs and strategic acquisitions and has offices in New York, Menlo Park, and London.

Over time and market cycles, TCV’s principles of thematic investing, emphasis on quality and growth, and relentless focus on partnering with mission driven teams to scale emerging market leaders has remained steadfast.

Representative investments include: Airbnb, Clio, GitLab, Netflix, Spotify, Toast, Believe, Avetta, Brex, GofundMe, Instacart, Payoneer, Xero, ByteDance, Twilio, Revolut, Allica Bank.

WHAT WE SEEK:

We are looking for Associates to join various of our growth fund investment teams:

● Application Software (NY or Bay Area)

● Infrastructure Software (NY)

● Consumer (NY or Bay Area)

As an Associate, you will play a critical role in all aspects of the investment process including sourcing, diligence, execution, and portfolio management. Our Associate Program runs for three years.

Our team is looking for a balance of hustle, high intellectual / analytical rigor, strong EQ and team orientation, independent thinking, and a true passion for technology and growth investing. We want someone who will thrive in a lean organization, operating in a fast-moving, entrepreneurial environment.

WHAT YOU’LL DO (ROLE & RESPONSIBILITIES):

Evaluation

● Evaluate investment opportunities and conduct due diligence, including, market/customer research, business analysis, financials/modeling, expert calls, memos, etc.

● Our investment teams are lean, so the Associate role runs a core part of our diligence process

Thematic Investment Origination

● Identify sectors and/or themes of coverage and originate targeted investment opportunities in that context based on research on markets and companies

● Interact with CEOs and senior executives to build relationships, diligence their companies, assess their needs, and determine the potential for a TCV partnership

● We hustle to drive the best results and strive to win as a team. Our team works together to help each other identify the best opportunities and we work in a flat and collaborative environment

Portfolio Management / Other

● General support of the firm's investment activities, including participation at management and board meetings, and monitoring and partnering on growth initiatives with portfolio companies

WHAT YOU BRING (EXPERIENCE & QUALIFICATIONS):

Experience:

● Between 2 - 4 years experience at an investment bank, strategy consulting firm, other investment fund, or other relevant firm at the time of start; Top ranked (from latest performance review)

● Bachelor's degree or foreign equivalent

Skills & Competencies:

● Hunger and tenacity; relentlessness in working through obstacles to achieve extraordinary results, habit of taking initiative to make things happen

● Passion and intellectual curiosity about tech and growth investing - excitement to go deep and pursue big ideas, open-mindedness and desire to grow and learn constantly

● Strong understanding of business fundamentals; ability to identify key questions about a potential investment and gain understanding of products, competitive differentiation, category creation, revenue opportunities, growth stages, management teams, etc.

● Critical thinking: ability to synthesize information into compelling narratives and to discuss pros and cons with intellectual honesty and humility

● Strong technical skills and modeling ability; capability to conduct thorough and accurate analyses with with speed and use data to pressure test hypotheses

COMPENSATION AND BENEFITS:

TCV offers a positive, team-oriented culture and a competitive compensation package. The salary range for this role takes into account the wide range of factors that are considered in making compensation decisions including but not limited to skill sets; experience and training; licensure and certifications; and other business and organizational needs. A reasonable estimate of the current salary range is $150,000-165,000. A discretionary annual performance bonus is subject to the rules governing the program, whereby an award, if any, depends on various factors, including individual and firm performance.

TCV also offers generous benefits to support employees, paying 100% of the premiums on group health, dental, vision, long-term disability, AD&D and life insurance coverages. In addition, TCV offers its employees the opportunity to invest in a 401(k) plan and receive an annual profit-sharing contribution.

TO APPLY: Please send to Recruiting@tcv.com:

● Your resume (please title your resume as "First Name - Last Name - Resume")

● Specify which role you are applying for & your location preference (mention if you are interested in being considered for more than one role on order of priority):

○ Application Software (NY or Bay Area)

○ Infrastructure Software (NY)

○ Consumer (NY or Bay Area)

● Submit answers to the 3 questions below (maximum of 100 words per answer):

1) Clio is a legal practice management software tool for small legal businesses in the US and Canada. How would you go about estimating its addressable market size in USD?

2) What are 2 companies you think are interesting for TCV as investment ideas and why? What is the key risk to get comfortable with on each? (please respond based on the sector/role that you are applying for)

3) Looking at TCV’s portfolio, what do you consider to be a missed deal in the last 2 years that TCV should have done? (please respond based on the sector/role that you are applying for)

Please title your answers file as "First Name - Last Name - Answers"

For details on how TCV treats your personal information, please refer to our privacy policy at https://www.tcv.com/privacy-policy.