Venture Capital Associate

Connecticut Innovations ("CI")

As Connecticut's strategic venture capital arm and one of the most active investors on the eastern seaboard, CI has a portfolio of 220+ companies across various industries, with strengths in life sciences, technology and climate tech. CI meets with hundreds of companies every year, identifying the most promising early-stage companies looking to grow in the state. Every year, CI invests in 20+ new companies, in addition to providing follow-on capital to existing portfolio companies.

• CI has invested $620 million in innovative startups since 1995.
• CI's leveraging power is 9X, or $5.6 billion.

CI invested $42.2 million in 71 companies in the fiscal year (FY 2023) ending June 30, 2023. CI's investments also attracted an additional $454.5 million in outside capital into its portfolio companies. This fiscal year generated $38.2 million in cash proceeds through company exits, which includes acquisitions and IPOs.

During the past two fiscal years, CI officially launched two new funds, the $100 million ClimateTech Fund, and the $50 million Future Fund, both of which are actively deploying dollars into early-stage companies. In addition to these new funds, CI launched the Innovation Lab to match and fund pilots between state agency partners and CI's scalable portfolio companies, expediting the pilot-to-procurement process for innovative technologies.

Our culture is vibrant, diverse, collaborative, and inclusive. We embrace perspective and have mission alignment on our impact to Connecticut's innovation ecosystem. We host or participate in over 20 ecosystem events per year, and our headquarters at The District in New Haven is a catalyst for partnership and an innovation ecosystem community hub.

CI ClimateTech Fund

Governor Lamont has committed to reducing greenhouse gas emissions to net zero by 2050 while ensuring vulnerable communities receive investment and are resilient to the impacts of climate change. Connecticut has passed the Clean Air Act, set a 2040 zero emissions target for school buses, passed advanced clean truck standards modeled off California, and more.

Connecticut is taking a macro government strategy to decarbonize, with CI working in tandem with the Connecticut Green Bank, Department of Energy and Environmental Protection, Department of Transportation, Office of Workforce Strategy, and more.

The CI ClimateTech Fund is a $100 million fund that invests capital and strategic support in early stage and growth companies. The fund is looking to invest in the following areas: Energy, transportation and mobility, food and agriculture, water, climate-related software, waste and circular economy, advanced materials/manufacturing, carbon removal/sequestration and more. The fund invests between $150,000 and $5 million per company and does require co-investment.

Durational Investment Associate | ClimateTech Fund

CI is seeking a Durational Investment Associate for a period of three (3) years. This Investment Associate role will assist CI's ClimateTech team with investment strategy (initial and follow-on investments) and execution. This role will be responsible for lead generation, due diligence, and portfolio management activities. This role will drive public-private partnerships across the sustainability innovation ecosystem in Connecticut to meet annual goals and objectives.

We are seeking candidates with a strong interest in the intersection between venture capital and helping the State of Connecticut meet decarbonization goals. Candidates should possess a bachelor's degree in business administration or other related field plus three to five years' experience in market research, management consulting, equity research, private equity, venture capital or other relevant business or management discipline, ideally with a focus on the sustainability industry. A master's degree in business administration, economics or other related field may be substituted for one additional year of the general experience.

Responsibilities may include:

• Assists in originating and managing investments aligned to CI's ClimateTech Fund strategy.
• Provides comprehensive evaluation and risk analysis of investment opportunities through completion of the due diligence process.
• Prepares written analysis of company's business plan and strategy including recommended financial terms and structure and presents to CI's Board of Director Investment Committee for approval.
• Structures and negotiates financing terms of CI debt, equity, and equity-like financing in approved investment opportunities; coordinates restructuring and workouts of investments.
• Maintains relationships with CI's portfolio companies, investment bankers, venture capitalists and others in the venture, technology, and entrepreneurial communities.

Skills & Competencies

• Extensive knowledge of early-stage, venture-backed investments, ideally within the climate, green, and sustainability industries.
• Considerable ability to exercise judgment and critical thinking.
• Considerable ability and willingness to function constructively as a participant in an investment team of peers and associates within a small organization, but also the ability to act on own initiative as appropriate.
• Considerable knowledge of and ability to apply management principles and techniques.
• Considerable knowledge of business operations and general management.
• Considerable ability to analyze and interpret financial statements, business plans and other complex financial and legal concepts and documents.
• Considerable ability to understand various scientific and technological principles and applications.
• Considerable ability to work directly with the senior executives in early-stage companies.
• Considerable ability to respond flexibly and adapt to changing circumstances.
• Considerable interpersonal skills; considerable oral and written communications skills; strong negotiating skills.

Connecticut Innovations is an equal opportunity/affirmative action employer and strongly encourages the applications of women, minorities, and persons with disabilities.