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Connecticut Innovations I Durational Investment Associate

Connecticut Innovations

Posted on: 27 Mar 2024

Job Location: New Haven, US

Job Description:

As Connecticut's strategic venture capital arm and one of the most active investors on the eastern seaboard, CI has a portfolio of 220+ companies across various industries, with strengths in life sciences, technology and climate tech. CI meets with hundreds of companies every year, identifying the most promising early-stage companies looking to grow in the state. Every year, CI, a quasi-public organization, invests in 20+ new companies, in addition to providing follow-on capital to existing portfolio companies. CI invests and plays an active role in supporting these ventures.

CI has invested $620 million in innovative startups since 1995.
CI's leveraging power is 9X, or $5.6 billion.

CI invested $42.2 million in 71 companies in the fiscal year (FY 2023) ending June 30, 2023. CI's investments also attracted an additional $454.5 million in outside capital into its portfolio companies. This fiscal year generated $38.2 million in cash proceeds through company exits, which includes acquisitions and IPOs.

During the past two fiscal years, CI officially launched two new funds, the $100 million ClimateTech Fund and the $50 million Future Fund, both of which are actively deploying dollars into early-stage companies. In addition to these new funds, CI launched the Innovation Lab to match and fund pilots between state agency partners and CI's scalable portfolio companies, expediting the pilot-to-procurement process for innovative technologies.

Our culture is vibrant, diverse, collaborative and inclusive. We embrace perspective and have mission alignment on our impact to Connecticut's innovation ecosystem. We host or participate in over 20 ecosystem events per year, and our headquarters at The District in New Haven is a catalyst for partnership and an innovation ecosystem community hub.

Connecticut Technology Fund

This fund has provided more than $100 million to date to Connecticut's promising high-tech companies, with a focus on FinTech, InsurTech, SaaS and PaaS early-stage companies. We have attracted companies to Connecticut from both coasts and as far away as Europe!

Venture Team Durational Investment Associate

CI Investment Associates play a key role in executing our investment strategy by researching promising technology markets. They also participate in all phases of the investment process including due diligence, meetings with management, focused company and industry research, financial modeling, writing investment recommendations, and supporting CI portfolio companies as board observers.

We are currently seeking an investment associate ("Investment Associate") to join and assist our team for a period of two (2) years in developing and managing an active high-tech portfolio.

Candidates must possess a bachelor's degree in finance, business administration, computer science, engineering, or another related field. Have a minimum of two years' experience in market research, management consulting, venture capital or other relevant business or management disciplines. Startup experience is a plus.

An MBA or master's degree in a technical field is considered a plus and may be substituted for one year of experience. Candidates should be self-starting, curious, flexible and have knowledge of financial statements, business plans and other financial and legal documents.

Responsibilities include:

Representing CI at industry events, source investment prospects, develop relationships with potential co-investors
Screening and analysis of potential investments
Conducting due diligence and competitive analysis
Financial modeling and valuation analysis, collaborating with and supporting other members of the CI Ventures' team.
Preparing reports and proposals regarding potential investments and portfolio companies
Drafting term sheets
Reviewing legal documents related to financings and other matters
Presenting investments for approval to CI advisory committees and committees of the CI Board of Directors
Assisting in identifying strategic, marketing and partnering opportunities for portfolio companies
Participate in meetings and calls related to due diligence, industry research, and investment negotiations

Skills & Competencies

High personal passion for a fast-developing innovation ecosystem
Detailed, action-oriented person who takes initiative to follow-up on items.
Project management and organization skills to solicit and follow up on meetings.
Communicate comfortably with a wide range of stakeholders.
Ability to synthesize data into a compelling story.
A seeker and learner mentality
Sufficient understanding/comfort of technology to recognize the business opportunities it unlocks

Connecticut Innovations reserves the right to underfill this position at the level of Investment Analyst if deemed necessary.

Connecticut Innovations is an equal opportunity/affirmative action employer. We welcome all candidates to apply regardless of race, color, religion, sex (including pregnancy, sexual orientation, or gender identity), national origin, age, disability, genetic information, or status as a protected veteran.

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