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About the Company
The client is one of Canada’s premier financial institutions. The company plays a unique role in delivering a wide range of timely and relevant financial and management services, with a particular focus on the emerging and exporting sectors of the economy. The firm’s services are available across Canada through a network of regional offices and branches.
The firm’s Venture Capital Division is one of Canada’s largest sources of venture funding with investments and resources across the country and in a wide array of technology and industrial segments. The firm has invested in and nurtured some of Canada’s best known and most successful organizations.
Scope of Position
Our client is seeking the Managing Partner for a spinoff Venture Capital fund that will be focused on the Cleantech sector. The Managing Partner will manage a national team responsible for proactively identifying and qualifying investment opportunities, support them with the ensuing investment decisions and then support the investee firms in achieving top-quartile returns. While our client will be the sole investor in this first fund, it is expected that the Managing Partner will lead the fund-raising efforts for Fund II at which time the group will spin off as a separate standalone entity.
Functional Tasks
• Direct the development of a business plan for the fund, including a compelling investment thesis, strategy and approach, and gain approval for plan before fund launch
• Lead the efficient monetization of portfolio companies rolled into the fund to maximize valuation on exit
• Source high-quality investment opportunities by conducting rigorous and fact-based due diligence on potential investments, leading syndication as necessary and executing qualified deals
• Manage the portfolio for business success and exit by providing value-add support (e.g., mentoring, capital introductions) to portfolio while developing multiple exit options
• Keep the EVP informed by delivering accurate and clear updates on fund performance and portfolio companies and gain approval for investments that falls outside business plan or guardrails
• Ensure the successful launch of the new internal VC fund by leveraging internal team and resources, and by recruiting high-quality partners and associates to create high-performing team environment
• Provide leadership in the coaching, management and development of employees, consistent with the client’s core values
• Create a high performing team environment within the internal fund built on trust, collaboration and high aspirations
• Work closely with venture capital management team to share insights, collaborate and provide transparency on portfolio and performance
• Enhance the client’s corporate brand image by attending and speaking at conferences of interest to the organization and in relevant sectors
• Build and maintain strong networks within the VC community, raising the profile of the fund
Key Performance Deliverables
In light of the identified responsibilities, the following are specific deliverables that the position is designed to achieve.
• Specific performance measures will be agreed upon with the successful candidate prior to joining the organization.
Competency Profile
The following competencies listed below define the role of Managing Partner at Venture Capital Cleantech
Role Expertise
Demonstrates critical technical or professional knowledge/skills related to the role. Has thorough knowledge of relevant products, services and methods. Expands technical knowledge/skills and keeps up-to-date in own area of expertise.
Team Skills
Helps to create a sense of team spirit and harmonious relations through cooperation and support. Balances personal goals with those of the team. Fosters collaboration among team members.
Results Orientation
Focuses strongly on achieving agreed upon outcomes and ensures that key objectives are met. Conveys a sense of urgency and drives issues to closure. Aims to improve upon past performance. Establishes aggressive personal targets and strives to achieve them.
Impact
Makes an immediate positive impression upon others. Has presence and commands respect. Comes across with force and quickly establishes credibility. Accurately predicts the effects of own words and actions. Makes an immediate positive impression upon others.
Planning & Objective Setting
Systematic in approach to work. Produces action plans in which objectives are defined and steps for achieving them are clearly specified. Plans by breaking down large task into subtasks. Develops plans that anticipate obstacles. Is realistic about time-scales and builds in appropriate checkpoints, milestones and controls in order to ensure that desired results are realized.
Drive
Adopts an energetic approach. Works towards goals and willingly tackles demanding tasks. Demonstrates capacity for sustained effort and hard work over long periods of time, even in the face of adversity.
People Management
Establishes and communicates clear priorities and sense of direction. Clarifies roles and responsibilities. Adapts management style to achieve optimum results.
Visioning
Imagines future possibilities. Thinks broadly and investigates a wide-range of alternatives in developing a vision for the future. Selects the most promising vision from a range of alternatives and communicates this vision to others.
Preferred Experience / Education
The following indicates specific industry, academic and functional experience/qualifications that are important to the successful achievement of the identified responsibilities and performance deliverables.
• An undergraduate degree in business or engineering.
• MBA or CFA designation.
• Thorough industry knowledge.
• Extensive industry network.
• Startup company experience, especially as applied to the challenges of managing and scaling such businesses
• Senior management (VP,CEO etc) experience with a Cleantech background
• Strong analytical and quantitative skills in order to conduct original research and assess technology market opportunities.
• 5-8 years of relevant operational industry experience.
Remuneration & Benefits
• Compensation is commensurate with experience and will include a base salary, an annual performance-based bonus and carry in the fund.
• Auto allowance.
• Competitive benefits package.