Part-time Venture Center Investment Program Manager

The University of Minnesota Technology Commercialization Venture Center is seeking an individual to serve as the Investment Program Manager in the Venture Center. This role will lead the development and implementation of various programs related to equity investment programs for University of Minnesota research startups. This includes the primary responsibility of managing the Discovery Capital Seed Fund Investment Program.

The University of Minnesota's (UMN) Venture Center was formed in 2006 and has launched nearly 250 startups and has a run rate of 20 to 25 per year. The Venture Center is part of the Technology Commercialization office and engages in commercialization opportunities that involve the formation, launch and on-going support of a new company that translates UMN research technologies into the market.

The Venture Center Investment Program Manager is a 75% part-time position (30.00 hours per week) and will lead the development and implementation of various programs that are related to helping UMN startups get connected to investment capital. Included in this are the following programs:

Discovery Capital: Seed stage investment program launched in 2015.
Discovery Angel Program: a new program focused on organizing investors who want to invest in startups affiliated with the UMN.
Investor Relations: Manage contacts and connections with investors interested in UMN deal flow.

This role will report to the Associate Director of the Venture Center and will work closely with the Venture Center Venture Development Manager and Venture Development Associate. In addition, the position will coordinate the necessary information and communication with the Office of Investment and Banking (IAB) team. The IAB team has the ultimate responsibility for Discovery Capital investment decisions.

We offer a competitive annual salary range of $100,000 to $115,000, commensurate with experience and qualifications.

Position Duties and Responsibilities

The Venture Center Investment Program Manager role will have these key responsibilities:

Discovery Capital Program Management (40% of time)
Establishing and managing the deal flow for Investment opportunities
Managing and updating the Discovery Capital Program process
Guiding startups through the process and preparing them for investment meetings
Assembling and presenting selected investment thesis to the Steering Committee and Investment Advisory Board
Identifying and conducting the due diligence on potential investment opportunities
Processing various feedback information and sharing with the stakeholders
Reviewing investment documents and working with the Office of General Counsel on review and approval
Gaining final approval for investments including creating and processing the necessary paperwork
Managing post-investment activities including investment tracking and equity management
Reporting on progress and results on a regular basis
Organizing and managing the Investment Advisory Board groups and meetings
Developing and managing a network of VC investment advisors and other investment advising resources

Discovery Angel Program (DA) Program Management (40% of time)
Work with the Tech Comm leadership on the development of this new program.
Be a key member of the DA Team and represent Tech Comm leadership in ensuring program compliance to strategy and goals.
Actively participate in DA events.
Coordinate DA program member recruitment and activities with UMN Foundation and the Alumni Association.
Manage any coordination between Discovery Capital and the Discovery Angel Program.
Connect UMN research-based startups to the program as appropriate.
Lead program review discussions and implement any changes needed.

Manage Investor Relations (10% of time)
Develop and lead outreach programs to increase connection of investors to UMN startups.
Set up and manage an investor database that can be used to alert investors of relevant deal flow coming out of the UMN.
Connect UMN startups to various investors and investment events.
Utilize investor contacts for due diligence as necessary and appropriate.

Support for other Tech Comm / Venture Center Activities; (10% of time)
Assist OIB in UMN equity management, reporting and disposition upon liquidation.
Contribute to the overall goals of the Tech Comm office.
Participate in team meetings and be a team player.

The Research and Innovation Office (RIO) and Technology Commercialization endorses a "work with flexibility" approach that offers a welcoming and flexible work environment where everyone is inspired to do their best. Work location options include working fully remote, partially remote, or entirely in the office and are based on the work of the position. Some on-site work may be necessary for certain positions, even those designated as fully remote.

This position has been designated as flexible work profile three.
Profile three employees are expected to work remotely more than 50% of the time. Your dedicated office space will be in your remote work location. UMN Tech Comm management retains the right to modify flexible work arrangement agreements on a temporary or permanent basis for any reason at any time.

Qualifications

Required Qualifications
BA/BS degree plus at least 10 years of experience
Bachelor of Science or Engineering degree or significant technical experience and aptitude.
Strong background in program / project management.
Experience in investing in start-ups and an understanding of investment terms.
Operational experience in at least one start-up company with early-stage investors.
Connections with angel investors, institutional investors, and sector experts.
Strong written, presentation, and relationship building skills.
Good level of understanding of board of director roles.

Preferred Qualifications
Prior success as a partner or manager in a venture capital or angel investment fund.
Experience in fundraising as part of a startup
Experience in a start-up that had a successful exit.
Experience as a board of director member.
Experience working with university technology commercialization.
Graduate degree in business or technical science.

About the Department

The Technology Commercialization (Tech Comm) office at the University of Minnesota helps University research move beyond the lab and into the marketplace.

Our mission includes:

• Protection of University Intellectual Property
• Connecting researchers with companies;
• Licensing technology for development of new products and services that benefit public good;
• Fostering economic growth;
• Generating revenue that supports the University's research and education goals.

Visit our website to learn more!

Benefits

Working at the University

At the University of Minnesota, you'll find a flexible work environment and supportive colleagues who are interested in lifelong learning. We prioritize work-life balance, allowing you to invest in the future of your career and in your life outside of work.

The University also offers a comprehensive benefits package that includes:

• Competitive wages, paid holidays, and generous time off
• Continuous learning opportunities through professional training and degree-seeking programs supported by the Regents Tuition Benefit Program
• Low-cost medical, dental, and pharmacy plans
• Healthcare and dependent care flexible spending accounts
• University HSA contributions
• Disability and employer-paid life insurance
• Employee wellbeing program
• Excellent retirement plans with employer contribution
• Public Service Loan Forgiveness (PSLF) opportunity
• Financial counseling services
• Employee Assistance Program with eight sessions of counseling at no cost
• Employee Transit Pass with free or reduced rates in the Twin Cities metro area

Please visit the Office of Human Resources website for more information regarding benefits.

How To Apply

Applications must be submitted online. To be considered for this position, please click the Apply button and follow the instructions. You will be given the opportunity to complete an online application for the position and attach a cover letter and resume.

Additional documents may be attached after application by accessing your "My Job Applications" page and uploading documents in the "My Cover Letters and Attachments" section.

To request an accommodation during the application process, please e-mail employ@umn.edu or call (612) 624-8647.

Diversity

The University recognizes and values the importance of diversity and inclusion in enriching the employment experience of its employees and in supporting the academic mission. The University is committed to attracting and retaining employees with varying identities and backgrounds.

The University of Minnesota provides equal access to and opportunity in its programs, facilities, and employment without regard to race, color, creed, religion, national origin, gender, age, marital status, disability, public assistance status, veteran status, sexual orientation, gender identity, or gender expression. To learn more about diversity at the U: http://diversity.umn.edu

Employment Requirements

Any offer of employment is contingent upon the successful completion of a background check. Our presumption is that prospective employees are eligible to work here. Criminal convictions do not automatically disqualify finalists from employment.

About the U of M

The University of Minnesota, Twin Cities (UMTC)

The University of Minnesota, Twin Cities (UMTC), is among the largest public research universities in the country, offering undergraduate, graduate, and professional students a multitude of opportunities for study and research. Located at the heart of one of the nation's most vibrant, diverse metropolitan communities, students on the campuses in Minneapolis and St. Paul benefit from extensive partnerships with world-renowned health centers, international corporations, government agencies, and arts, nonprofit, and public service organizations.

At the University of Minnesota, we are proud to be recognized by the Star Tribune as a Top Workplace for 2021, as well as by Forbes as Best Employers for Women and one of America’s Best Employers (2015, 2018, 2019, 2023), Best Employer for Diversity (2019, 2020), Best Employer for New Grads (2018, 2019), and Best Employer by State (2019, 2022).