Back to all jobsManaging Director, Healthcare Investment Group
Full Time
Deadline: Open until filled
Summary
The Managing Director of Ben Franklin’s Healthcare Investment Group is a senior manager of the leadership team and is responsible for overseeing the planning, coordination, management and execution of Ben Franklin’s healthcare investment activities, including the sourcing, evaluation and management of investments across a diversified portfolio based on technologies ranging from therapeutics, medical devices, diagnostics and digital health.
The Managing Director, Healthcare Investment Group leads a small team which consists of the Managing Director and three investment professionals, and supports the identification of, investment in, and post-investment management of early-stage ventures focused on healthcare-related technologies and outcomes.
Group activities include management of technical and business due diligence, management of the portfolio company relationship, deal negotiation and subsequent board observer once an applicant has been approved for investment. Negotiation of financial and non-financial terms, finalizing investment documentation, and deployment or direct provision of management support to the client are vital responsibilities associated with this position. In addition, the Managing Director will negotiate in varied transactions after making investments, such as in conversions of debt to equity and in mergers and acquisitions.
The Managing Director also is an integral part of the investment committees established for follow-on investment funds led by Ben Franklin, such as Ben Franklin’s GoPhilly Fund.
Fundraising is not required for this role.
Essential Duties and Responsibilities:
Administrative & Management
• Manage and supervise the Healthcare Investment Group professionals, including conducting regular meetings, approving special projects, and monitoring progress and results. Provide regular and detailed guidance and training on portfolio management issues.
• Manage external consultants (due diligence, portfolio management, others as appropriate), including execution of contractual agreements.
• Work with Senior Management and the Technology Investment Group to develop annual and checkpoint goals.
• Work collaboratively with the Technology Investment Group to support the development and execution of significant department and organizational initiatives, including the support of internal and external diversity, equity and inclusion initiatives and the organization’s work with minority angel investor networks.
• Work with HR for compliance with personnel evaluations—annual reviews and inter-year as appropriate.
• Identify and recruit members of the Healthcare Investment Group’s External Review Committee.
• Work with Finance to ensure all appropriate reports are submitted and all appropriate requirements as requested by auditors.
• Prepare and present reports for the organization’s stakeholders, such as the Board of Directors and its committees, the Commonwealth of Pennsylvania, and the limited partners of Ben Franklin led follow-on investment funds, to measure program, project, impact and investment portfolio progress and outcomes.
Investment Process Management
• Responsible for identifying potential investment opportunities in the healthcare sector, including biopharmaceuticals, medical devices, diagnostics, biomaterials, and healthcare and pharmaceutical technology-based service companies.
• Creatively develop and execute outreach strategies to seek out appropriate investment prospects in the healthcare sector, and work with regional sources of investment, technology, and business support to assist these prospects to grow and succeed. Provide individualized assistance to potential applicants.
• Review proposals, identify key business issues, and assign and supervise in-house and consulting due diligence reviewers.
• Manage the Healthcare Investment Group’s External Review Committee for input into investment opportunities.
• Manage the internal investment review process, including preparation of memos for the Board’s Investment Committee, participation in Investment Committee meetings and any other requirements at the request of management or the Board.
• Supervise the negotiations and preparation of contracts and other documents required to initiate investments.
Post-Investment Management
• Monitor portfolio company compliance with terms and conditions of investments, including ensuring receipt of appropriate ongoing compliance documentation, such as final reports, commitment letters, and performance impact surveys.
• Conduct portfolio company site visits, as needed. Manage portfolio management reports detailing business issues.
• Represent Ben Franklin as an observer on portfolio companies’ boards of directors.
• Serve as a member of investment committees of follow-on investment funds, such as the GoPhilly Fund,
established and led by Ben Franklin.
Requirements:
• Master’s degree or Doctorate degree in biology, biochemistry or other life sciences, with coursework in applied and translational sciences.
• Minimum of seven years’ experience in technology transfer, lending, investments, and business consulting activities. Venture capital experience is a strong plus.
• Demonstrated proficiency handling multiple, complex projects, both collaboratively and independently; highly self-motivated.
• Ability to work with multiple internal and external constituencies, with strong leadership abilities.
• Willingness to learn and grow, including remaining up to date on healthcare investment marketplace initiatives and trends.
• Strong problem solving, analytical and troubleshooting abilities.
• Strong proficiency in Microsoft Office applications (Word, Excel, Outlook, Office 365, SharePoint).
• Excellent written and verbal communication skills.
• Excellent time management and interpersonal communication skills.
• Demonstrated ability to build and foster collaborative relationships; record of successful collaboration with others to achieve significant business objectives.
Benefits of Working for Ben Franklin:
Ben Franklin offers a competitive salary based on experience and skills and excellent benefits, including employer-paid health, disability, life insurance, retirement savings plan with employer match, flexible spending accounts, tuition reimbursement, and paid time off, including parental leave, professional development opportunities and much more!
Additionally, the Managing Director may be eligible to be awarded carried interest in Ben Franklin’s upcoming follow-on investment fund, Global Opportunity Pennsylvania Fund.
Application deadline: Open until filled. Please submit a cover letter and resume.
Please respond via employer portal at https://www.sep.benfranklin.org/resources/career-opportunities/
For more information, please contact Matt Vossler, Managing Director with Diversified Search Group – Matthew.Vossler@Divsearch.com
Ben Franklin maintains an inclusive workforce, where employees are hired, retained, compensated, and promoted based on their contributions to our mission, free from discrimination, prejudice, and bias. We are committed to diversity, equity, and inclusion throughout our organization and our investment practices. Our collective strength is rooted in our values, where we support and honor our mission, appreciate and humbly serve our community and each other, demonstrate collaboration, and commit that “We Are the Change.” Candidates are considered for employment without regard to race, ethnicity, color, religion, gender identity or expression, sex, sexual orientation, national origin or ancestry, genetic information, age, disability, marital or familial status, veteran or military status, or any other status protected by applicable law.