Partner / Principal / VP, Health - San Francisco, CA, United States - Acumen Fund

Description

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To learn more about this opportunity, please contact: Tory Clarke Partner, Bridge Partners:

Acumen America is seeking a Principal to join our San Francisco-based, venture investing team, to focus on our workforce and financial inclusion portfolios. The Principal will be joining a team catalyzing the power of entrepreneurs to drive meaningful change on problems of poverty in America. In particular, the Principal will focus on building a portfolio of game-changing companies in health. We're seeking a team member with 12+ years of experience in investing or related fields and a commitment to tackling poverty. The right candidate is a leader – entrepreneurial, bold, creative, and can excel in a fast-paced, startup environment.

Acumen America
Acumen America is the leading early-stage investor backing innovative solutions to poverty. Its mission is to change the way the world tackles poverty by investing in underestimated entrepreneurs building breakthrough companies with the potential to shift systems of poverty in the United States.

Acumen America sees opportunities where others don't, invests early in game-changing businesses, and supports underestimated entrepreneurs advancing health and economic justice. As one of the nation's only philanthropically capitalized venture investors, since 2015, Acumen America has invested in 39 companies reaching over 85M low-income Americans.

We believe in the power of a diverse portfolio, and 56% of our companies have a founder of color and 44% have a female founder. The team is responsible for finding, vetting, structuring and managing investments in companies that serve low-income Americans in our three portfolio sectors: financial inclusion, workforce development, and health.

Accountabilities
Reporting to the Acumen America Partners, the Principal will play a leadership role on the investing team at Acumen America and focus specifically on Acumen America's health portfolio. This will involve setting goals, honing process, refining strategy, and assessing portfolio performance. With a focus on health, they will:

• Source new Pre-Seed and Seed stage investments, lead due diligence processes, structure deal terms, and drive new investments to closing.
• Manage certain relationships post-closing, including sitting on a small number of Boards, both as an Observer and a Director over time.
• Manage certain other Acumen America team members.
• Play a leading role in setting sector strategy, support fundraising, and advance strategic partnership initiatives.
• Contribute to actively building and cultivating Acumen America's networks in the venture and impact investing communities, as well as the healthcare payer, provider and policy communities
• Develop insight and communications pieces for external audiences.
• In particular, the Principal will engage in the Medicaid Innovation Collaborative program operated by Acumen America. In this program, state Medicaid agencies and managed care organizations come together to advance the adoption of tech-enabled health equity innovations. The Principal will work with Acumen America Partners, in the design, execution, and scale of this high-impact program as it advances change across the Medicaid ecosystem and supports the success of companies in the health portfolio.
• This leader must be comfortable working in a fast-paced, changing environment, executing quickly on a range of transactional responsibilities, as well as thinking critically to add value and solve problems.

More specifically, they will be responsible for:

Early-Stage Venture Investing:

• Identify, cultivate, and review a pipeline of early-stage investment opportunities providing critical services to low-income Americans
• Conduct thorough due diligence and investment analysis, including financial modeling, valuation review and structuring
• Prepare and present detailed and compelling investment documentation for Acumen America's Investment Committee

Portfolio Management

• Own relationships with certain portfolio companies, tracking performance and providing active support
• Assess portfolio company needs related to post investment support; design and implement post-investment management interventions
• Design and evaluate key metrics to measure the social and financial returns on investments
• Develop long-term relationships with external stakeholders including funders, advisors, thought leaders, sector and functional experts to provide support across the portfolio
• Play a key role in portfolio company governance, including serving as a Board Observer and Board Director for select investees

Portfolio Operations

• Manage select portfolio team members as direct reports
• Lead strategic initiatives to improve health sector investment thesis and strategy
• Work with the Acumen America team to analyze and document data-driven rationales for portfolio decisions; to extract and document investment-specific and general insights; to analyze metrics data to identify patterns; and to channel that data to outputs for marketing and fundraising efforts
• Produce discrete knowledge and research materials based on lessons from Acumen's portfolio

Program Management

• Develop and implement strategic plans to advance the mission and goals of the Medicaid Innovation Collaborative
• Oversee the execution of key programmatic milestones including working with State Medicaid departments, managed care organizations and health tech companies to advance health equity goals
• Manage relationships with key partners including states, managed care organizations and vendors
• Develop and implement strategic approaches to support portfolio company needs

Skills and qualifications

• 12+ years of experience in venture capital, private equity, investment banking, investment management, or relevant non-finance fields, including experience with financial and operational due diligence of early-stage businesses
• Superior financial and business analysis skills, as demonstrated by prior experience
• Excellent written and oral communication skills; ability to present arguments and analysis in a clear and succinct manner to Acumen management, partners and investees
• Strong ability to take initiative with research and analysis and produce valuable results in conditions of uncertainty
• Solid operational skills including problem solving and project management skills, including ability to work and deliver projects independently, proactively and under pressure
• Familiarity with the social enterprise and impact investing sectors; demonstrated commitment to tackling challenges of poverty is preferred
• An ability to establish relationships with CEO and add value to their endeavor
• Bachelor's Degree is required
• Self-reflective and aligned with Acumen values
• Must be permanently authorized to work in the U.S.

For this position, the base salary range is $160,000 to $200,000 plus an annual bonus. Internal equity considerations and the salary of peers with similar accountabilities will be reviewed before making a final offer.