Job Description
Established in 1994 and based in Durham, NC, Pappas Capital is a global venture capital firm investing in next-generation life science and technology companies. Across its various funds, the firm has raised more than $800 million and invested in more than 90 companies through its flagship Pappas Ventures funds, its Specialized Funds, and its Translational Medicine Initiative.
Pappas Capital is currently deploying capital from multiple investment vehicles:
- Pappas Ventures funds – investing in early-stage life science companies across the US and Canada, and selectively in Europe and Asia
- Asia Innovation Ventures – investing in early-stage disruptive technology companies domiciled in Mainland China, Hong Kong, and Singapore across sectors including AI/ML, advanced materials, quantum computing, and biotechnology
- Pappas Capital Asset Management – investing in high-value opportunities in complementary sectors from Pappas Capital’s balance sheet
Role
Pappas Capital is seeking a talented individual to join the investment team. This individual will play an important role in continuing to build the firm’s investment portfolio, deploying capital out of several funds and across multiple sectors and geographies. The ideal candidate has strong interpersonal skills, leadership talent, and investment experience necessary to achieve the firm’s investment objectives and expand the firm’s collective capabilities in identifying and evaluating disruptive new technologies. This individual should have a background in assessing and/or investing in early-stage technologies and genuine curiosity, desire, and proven ability to learn new technologies quickly. This role will require working with US and internationally based investors, entrepreneurs, executives, and advisors in an unstructured and dynamic environment. The ideal candidate is a team player who is eager to work in a small company setting and wear multiple hats, which may include certain administrative and operational responsibilities.
Responsibilities
- Participate in all aspects of the investment process:
- Sourcing: Continually monitor and track industry activity and proactively source high potential startups and technologies.
- Identify markets and technologies that are consistent with the various funds’ investment strategies and develop theses around these technologies and opportunities to pursue.
- Build awareness of the funds and their strategies with stakeholders in various live (conferences, networking events, etc.) and virtual (LinkedIn, Twitter, WeChat, etc.) settings.
- Pipeline management: Review and evaluate investment opportunities. Assess technologies, develop business cases, and present recommendations for team discussion. Prioritize deal flow and allocate resources to the most promising opportunities.
- Due diligence: Lead or support the diligence process for investment opportunities:
- Analyze research reports, company provided and independent data, and various data room content
- Identify and engage domain experts to address specific technical questions
- Assess market and competition, and lead technical and customer reference calls
- Build and analyze financial models, including P&L and cash flow forecasting, capital structure and returns analysis
- Assess strength, reputation, and credibility of current and potential investors to determine syndicate compatibility
- Synthesize the team’s collective diligence findings to complete investment memos detailing technology, investment thesis, risks, transaction structure, key drivers, competition, and returns analysis
- Develop negotiation strategies and ensure alignment with various fund strategies and objectives
- Work closely with external counsel to review and execute legal and investment documents, and manage the closing process
- Portfolio management: Actively monitor portfolio company performance and developments, build, and maintain strong relationships with management and syndicate partners, and participate in board meetings, as necessary.
- Networking: Contact and build relationships with investors, executives, industry leaders, and incubators / accelerators that are potential sources of deal flow and strategic partners.
Requirements & Competencies
Experience Profile
- Background (3-7 years’ experience) of sourcing and evaluating technologies, ideally in one or more of the firm’s strategic areas of focus (e.g., artificial intelligence/machine learning, advanced materials, quantum computing, biotechnology) and/or a background in a related technical discipline, such as material science, engineering, computer science, physics, etc.
- Tech background with relevant experience in technology frameworks, algorithms, and methodologies, and an understanding of technology markets, products, and trends (applications, value chain, infrastructure, business models, emerging trends, and commercial offerings in support of emerging trends).
- Track record of working with and/or closing early-stage venture capital investments, including leading/participating in all aspects of the diligence process (technical, financial, market, legal). May have experience in operations, corporate or business development, and/or professional services supporting early-stage companies in evaluating technologies and financing strategies.
- Inherent drive to explore emerging technologies and stay abreast of industry trends.
Skill Set
- Project management and leadership skills to manage multifunctional and dispersed team in evaluating investment opportunities, consolidating analyses, and delivering timely recommendations.
- Technical aptitude, sound business judgment and decision-making capabilities, exceptional written and verbal communication skills.
- Outstanding interpersonal and networking skills and cultural fluency with proven ability to develop and maintain business relationships necessary for sourcing investment opportunities. Capable of developing authentic relationships with influential and impactful leaders and venture firms in the US and in Asia. Ability to successfully collaborate with cross-border, multi-cultural team.
- Strong communication skills to effectively convey strategies to different target audiences (internally and externally), present recommendations clearly and concisely, and promote cross-functional interaction.
- High level of business acumen, professionalism, discretion, and good judgment.
- Strong work ethic, ability to be proactive and responsive in high-stakes situations.
- Flexible, agile, and comfortable working in a collaborative, entrepreneurial environment wearing multiple hats, as necessary.
Education
- Advanced degree (MBA, PhD) preferred
Additional Skills & Experience (Not Mandatory)
- Experience in developing and cultivating international relationships and/or working with or leading a global team.
- Experience working in China (Asia) and language fluency (i.e., Mandarin) would be helpful.
Additional Information
- Position is based in Durham, NC. Hybrid schedule based on a combination of in-person and remote work. Specific schedule TBD.
- Some domestic and international travel will be required.
- Pappas Capital is an Equal Opportunity Employer that does not discriminate on the basis of actual or perceived race, creed, color, religion, alienage or national origin, ancestry, citizenship status, age, disability or handicap, sex, marital status, veteran status, sexual orientation, genetic information, or any other characteristic protected by applicable federal, state or local laws.
- As part of our standard hiring process for new employees, employment will be contingent upon successful completion of a background check.
- We require all individuals to be fully vaccinated for COVID-19.
