At Innovation Works our mission is to introduce, connect, support, and expand the startup & entrepreneurial ecosystem within Southwestern Pennsylvania, making our region a center for innovative startups and tech investors from around the country.
The Chief Investment Officer (CIO) will report directly to the Chief Executive Officer (CEO). The CIO’s primary role will be to assist the CEO in the formulation of IW’s investment strategy, operational goals, and investment budget. The CIO will also be actively engaged in managing the many transactions that occur within Innovation Work’s portfolio of companies on a day-to-day basis (i.e. accelerator program, seed fund and venture fund---both new and follow-on investments). Extensive VC experience required. This individual will be responsible for maintaining, with the support of s/her investment team, the various investment and portfolio related databases and resources that IW builds and employs; assist in developing new and maintaining existing investor relationships (including angel, corporate and VC investors); think “outside the box” to create new programs and initiatives that support portfolio companies and entrepreneurs. The CIO will chair IW’s Investment Committee and will serve as a Managing Director of Riverfront Ventures, IW’s for-profit venture fund.
The CIO will also lead investment due diligence activities for IW and Riverfront which shall include analyzing prospective investment opportunities, leading due diligence activities, drafting investment memorandum, managing IW’s and the Fund’s investment operations, including monitoring portfolio company performance and reporting to Fund investors on a quarterly and annual basis. The CIO will also head IW’s Collections Committee and be actively involved in structuring workouts and repayments.
IW’s in-house Legal Counsel will report directly to the CIO.
- Provide oversight and direction of IW’s investment portfolio, including an effective investment process.
- Chair the Investment Committee that includes IW’s CEO, COO, controller, in-house counsel and select members of the management team.
- Supervise and provide guidance to investment team members to ensure capitalization tables and financial information are continually up to date.
- Work with the CEO to continually strengthen internal management systems.
- Ensure Fund quarterly reports and annual audited financial statements are issued on a timely basis to LPs and that the values assigned to portfolio companies are supported by a waterfall analysis.
- Lead the Fund’s Annual LP meeting.
- Maintain IW’s Angel and VC master database of contacts.
- Maintain a high profile in the Pittsburgh region’s entrepreneurial and investment community including meeting/discussing investment topics with the media as necessary.
- Ensure investment team members input quarterly investment data in data reporting services such as Moneytree and Dow Jones.
- Ensure portfolio company interactions and updates are properly reflected in SalesForce.
- Maintain and develop ongoing relationships with angel and VC investors which includes both one-on-one investor-portfolio company meetings and mini venture fairs to showcase IW portfolio companies.
- Regularly check and update portfolio company listings on the IW website.
- Ongoing support and oversight for the development of social impact and diversity indicators for portfolio investments and the overall organization itself.
- Create and maintain a database of terms sheets.
- In conjunction with the CEO and Marketing Department create and disseminate annual reports on regional financing trends (e.g. IW/EY Annual Report).
- Assist in managing issues around portfolio company collections and final reports
- Attend and serve on committees of various venture/angel fairs and other events (e.g. 3 Rivers Venture Fair, PVCA luncheons, Penn State Venture Fair, etc).
- Help with new IW funding sources such as Heinz, Hygrid, CDFI, SSBCI, etc.
- Manage the investment funnel, prepping board materials, due diligence, etc.
- Lead investor outreach initiatives including angel investors, VCs, corporate investors, and potential Riverfront LPs.
Qualifications and Requirements:
- Minimum BS/BA (accounting/finance/economics degree), MBA preferred, with investment portfolio management experience.
- Required: Extensive work experience and familiarity in the venture capital, private equity and entrepreneurial areas
- Excellent written and verbal communication skills
- Exceptional negotiator that works to create a collegial style and is willing to exert authority when decisive measures are required.
- Ability to work with complex spreadsheets, databases, etc.
- Strong analytical skills.
- Work with the entire IW team to ensure the spirit of collaboration.
- Self-starter is willing to take initiatives and generate new ideas to support entrepreneurs.
- Strong sense of accountability and attention to detail
- Ability to juggle many competing priorities/deadlines
- Highest personal integrity and team-orientation
Please submit qualified resumes and cover letters to email@example.com.
Innovation Works provides equal employment opportunities to all employees and applicants for employment and prohibits discrimination and harassment of any type without regard to race, color, religion, age, sex, national origin, disability status, genetics, protected veteran status, sexual orientation, gender identity or expression, or any other characteristic protected by federal, state or local laws.