What are the responsibilities and job description for the Venture Investment Director position at this role at the Wisconsin Economic Development Corporation?
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.
Salary : $72,200 - $90,300