The Provinces of Nova Scotia and New Brunswick have jointly committed $30 million to establish a privately managed regional venture capital fund that will target investment opportunities in Atlantic Canada. The fund's first closing is targeted for February 1, 2012.
On their behalf, we are searching for the Regional Fund Manager to manage this new fund. This is a full-time position, and the successful candidate (either an individual or a fund management company) can be located in any of the four Atlantic Provinces.
The qualified fund manager is capable of raising additional capital commitments of $10 million, and managing the fund to maximize return for its investors. Preference will be given to candidates willing to invest their own capital in the fund.
The successful candidate will enable Atlantic Canada to further gain and maintain private sector credibility in global venture capital markets and help create the necessary conditions for efficient private sector risk capital markets in the region.
Key Activities
- Attracting significant capital commitments from institutions, endowments, and high net worth individuals
- Structuring, closing and managing an agreement between the fund’s general and limited partners
- Sourcing and selecting high potential investment opportunities from across the region
- Performing comprehensive due diligence on opportunities as a basis for investment decisions
- Negotiating and closing equity investments in companies
- Working closely with portfolio companies to help them reach important development milestones
- Raising follow-on financing for portfolio companies from other venture capital firms
- Building and maintaining strong investor partner relationships, developing a high level of trust and having the ability to work together on challenging investment situations
- Identifying and securing new investor partners to ensure the ability to make follow-on investments and to share risk on new investments
- Raising the fund's profile in the venture capital and business communities
- Positioning the regional fund in the marketplace in a professional manner, maintaining its high standards and reputation
Experience and Competencies
- Private sector experience and acknowledged credibility (i.e. successful candidate is "investable")
- Experience in successfully building and exiting/selling a company, or experience in working at multiple venture capital-backed companies
- A professional and/or post-secondary education from a top-tier university, in business or a related program
- Investment experience in venture capital, private equity or angel/seed investment, with a strong track record of successful investments and exits
- Management experience, including an understanding of and comfort with corporate governance issues
- Operating experience with structuring relationships and transactions, financial and legal documentation, banking, and other business procedures
- Ability to manage and operate in a climate of deadlines, variety, pressure and complexity
- Confidence to operate in the business and public sector marketplaces, building relationships and respect in all dealings
- Skills and experiences to shift the investment fund to a growth in capital through new sources of funding, and through the prospecting of new portfolio partners
Personal Characteristics
- A decision maker with a straight-shooter style
- Makes sound strategic decisions in ambiguous situations
- Plans actions to fit strategy, solve problems and pursue opportunities
- A superb communicator and active listener
- Open, transparent, accessible and approachable
This is a pivotal role that will have a direct impact on the financing of growth companies in Atlantic Canada. To express your interest or to discuss this position, please contact Jim Wilson at 2119@WilsonExecutiveSearch.comor 902-423-1657.
