Venture Partner @ Newchip
Led by Next Gen-er Ryan Rafols, Newchip is hiring a part-time Venture Partner Fellow to recruit companies, establish a strong culture, and manage investments for its portfolio. Learn more about the opportunity here.
Newchip provides world-changing early-stage startups with the tools, skills, and mentorship necessary to successfully raise, build, and scale their businesses to eventual acquisition.
Newchip has helped fund over $20M into companies in 2018 and are looking for founder oriented team members who are in it for the long-haul to truly help startups while also driving fund returns.
Our Venture Partner Fellowship is a part-time general partner in a training role that will empower and equip you to contribute to the fund in a significant way remotely and while working full-time elsewhere or attending masters or Ph.D./MD degree program. As a Venture Partner, you will be responsible for assisting in the following activities: Fundraising (Portfolio and Fund), Partner and Co-Investor Development, Startup Coaching & Mentoring (Accelerator), and Deal-Flow Sourcing.
Your role long-term will be focused on recruiting companies into the accelerator and fund, startup founder development and coaching, leading and managing investments, and establishing a strong culture and vision for our portfolio companies. The area of responsibility for this role is wide and requires a thorough knowledge of various startup processes, industries, markets, fields, and skill-sets from both a strategic and execution standpoint- the ideal candidate is a previous Founder/CEO.
You must at a core be an excellent leader who can recruit, coach, and build other leaders. You will work with founders and their teams to develop processes, and externally with investment partners to help founders grow and close their rounds. To be successful in this role, you should have extensive experience in senior leadership roles and/or as a founder yourself, because ultimately, you will find and “build” great startups, invest in them, and help lead them to acquisition post-investment.
Over time, your success will be measured by 4 key metrics in this order:
1. Your ability to assist in fundraising capital to deploy in the fund.
2. Your ability to bring on additional partners and co-investors.
3. Your ability to coach, train, and mentor startups to success.
4. Your ability to recruit and source deal-flow from your network.
You will be required to be an excellent manager, team builder, teacher, recruiter, communicator, fire-fighter, and issue resolver as your work will contribute to building a foundation for startup success in our portfolio for years to come. This Fellowship is a 1-2 year fellowship program with the goal of full-time hire at our fund or another fund after completion.
Achieve agreed upon personal and fund targets, quotas, and outcomes within schedule
Reach out to prospect investment leads through email, LinkedIn, events, conferences, and calls
Qualify leads, research accounts, and generate, or follow through fund investment leads
Establish, develop and maintain positive business, partner, and portfolio relationships
Analyze startup market potential, track portfolio growth, and cohort status reports
Keep abreast of best practices and promotional trends in the market for startups and venture
Continuously improve through feedback and coaching with management and team to grow
Build reports on portfolio needs, problems, interests, competitive activities, and investment potential
5+ years of direct entrepreneur and startup experience; or 5+ years of experience from investment banking, private equity, or venture capital.
Ability to develop relationships and make connections with anyone, anywhere
Ability to google, learn independently, and solve roadblocks without handholding
Personality type that talks to people on elevators and "owns" networking events
Deep understanding of the startup processes, businesses, and their dynamics
Proven track record in selling, communication, and expert negotiation skills
A commitment to excellent "service" to deliver quality mentorship and coaching
Highly motivated and target driven with a proven track record in closing deals
Excellent time management and organizational skills- not just personally but as a leader
Ability to create and deliver presentations tailored to the audience needs
Relationship management skills, openness to feedback, and ability to grow
Familiarity with CRM practices along with ability to build productive business professional relationships
Able to work comfortably in a fast-paced environment whether in-house or remote
Excellent knowledge of MS Office, Linkedin Navigator, CRM Tools, GDrive
Preferred experience in basic automation and CRM's like Close.io, Pipedrive, Salesforce, etc
Part-Time Role. As a contractor of the company, you will be responsible for your own medical benefits, taxes, office, and other expenses, unless deemed expense-able otherwise.
Cohorts launch every month with up to 25 companies per cohort and they last between 3 to 6 months.
The program is largely module and assignment based on biweekly meetings (2x per month):
-1-hour masterminds (group coaching session for up to 8~ companies); and,
-1 mentor session (30 minute 1-1 coaching sessions).
This equates to a part-time role of 10 hours per week (40~ hour total per month) average in expectations for coaching and mentoring.
1. For this work, Newchip will initially pay you a stipend of $2,000 per month that you are actively managing a cohort.
2. You will receive a 5% referral fee for any companies you bring into the accelerator that utilize our tuition model - payable 30 days after they have started their cohort.
1. You will be eligible for carrying in the fund for every $1M you raise in funding commitments for the fund from LP’s (high net-worth individuals, family offices, venture funds, etc); and you will receive 0.5% of the carry (2.5% of total) for the life of Journey I $20M Fund - this is a goal-based metric, and separate from coaching and mentoring in the accelerator.
2. You will be eligible to receive a bonus of 5% of the sponsorship fee for every company, that you independently source yourself, that the fund then sponsors into the accelerator and $5k for every company that the fund invests in - payable 30 days after the close of the investment.
3. Depending on your results from year one, you may be eligible for additional carry and compensation as well as the potential for a full-time role longterm for the life of the fund for 7-10 years.
Location: Remote or Austin, TX
APPLY HERE and tell them that Next Gen sent you!