THE SEARCH
Altus Partners are delighted to be partnered with a leading VC fund to find a Principal to join their investment team.
Our client is an independent, billion-pound investment company, created to found, fund and build transformational businesses. They are involved in company creation, to seed and right through to series D investments spanning three high-growth, high-impact sectors – Life Sciences, Health Tech, Deep Tech. They have a flexible, long-term investment approach, recognising the path from ground-breaking research to global markets takes time and resilience. To date, they have invested in over 80 ambitious companies, helping progress 27 from seed to Series A, and 21 to Series B and beyond, including 2 IPOs and 6 trade sales.
They recently raised a further $300 million (1bn AUM) in funding from a diverse group of international investors, with strong participation from existing and new blue-chip investors, sovereign wealth funds, family offices, pension funds and asset managers. They are in a great place to continue to deploy capital, typically looking at 4 platform deals per year (in HealthTech). The HealthTech focus is broad and diverse; covering multiple segments from AI imaging, big data analytics, digital pharma services, tech enabled care delivery through to smart diagnostics and next generation medical devices.
THE ROLE:
The role will be primarily responsible for finding, creating, diligencing and closing deal opportunities in the HealthTech space. Opportunities range from provision of financial support to make a transformational technology spin-out ready, creation and investment in NewCos, investments in existing start-ups leveraging technology through to follow-on investments in existing portfolio. You will also be working closely with portfolio companies supporting them in multiple ways to catalyse their growth.
Responsibilities:
Scouting: Proactively engage with academics and founders to build strong relationships and deep understanding of research activities, and in doing so seek out potential new opportunities to (i) create and fund a new company, (ii) invest in an existing business or (iii) provide financial support to make a transformational technology spin-out ready.
Pipeline Creation: Help create and maintain the internal pipeline of opportunities, proactively applying creative approaches to opportunity identification.
Thesis Build: Keep up to date with new HealthTech developments globally. Monitor market and technology trends, to help identify thematic areas of interest where HealthTech should proactively build new businesses.
Lead independently and/or together with EiR the development of selected investment theses, building value proposition, business case, competitive positioning, product development plan and financial models, translating these into a business plan justifying creation of a NewCo.
Due Diligence: Lead due diligence of opportunities through the entire investment process, effectively managing Associate support. This will include detailed review of market, technology (science and product roadmap), commercial strategy, competitive landscape, team, IP, regulatory, financials, capital requirements and exit scenarios, using external experts, primary and secondary desk-based research.
Deliver mature judgment on teams and companies and help build conviction on investments through structured and deep due diligence. Accountable for making yes/no decisions for whether opportunities should be progressed or rejected based on good judgement, research, analysis, knowledge, and experience.
Develop investment case, prepare detailed investment memo and present to Investment Committee.
Effectively negotiate deal terms, term sheet and long form legal documents.
Develop strong network of investors that can participate in early and later stage financings, playing a lead role in building and managing investment syndicate.
Portfolio Management: Manage portfolio company post-investment, assuming board position.
Provide continued insight, direction, and support to portfolio companies across all stages of their funding cycle (creation to exit), supporting operational build out, team expansion, commercial strategy, and fundraising efforts, with particular emphasis on provision of venture building support in the first 24 months following our initial pre-seed / seed investment.
Actively monitor and communicate KPIs, financials and progress internally.
Build the investment case required for follow-on investments, evaluating deal terms, returns model and capital requirements, leading legal negotiations through to closing.
THE REQUIREMENTS
Essential:
BSc or higher in a scientific or health-related discipline.
At least 7 years relevant industry experience post qualification, ideally, at least partly, gained within a venture capital fund.
Able to demonstrate a strong track record of successful investment research, analysis, and deep commercial and technical due diligence, which has led to successful investments, partnerships, or deals.
Can evidence strong understanding, interpretation and delivery of deal structuring process and complex deal instruments and features.
Evidence of building and growing early-stage companies and working with venture partners.
Experience of mentoring and developing less experienced colleagues.
Exceptional networking skills with experience building and managing external relationships and ability to gain trust of key stakeholders.
Experience writing reports and delivering presentations, which integrate multiple data sources, succinctly present key facts with clear and compelling message.
Excellent written and verbal communication skills and ability to adapt style and presentation depending on the audience.
Highly proficient in PowerPoint and Excel.
Desirable:
Industry experience in medical device, diagnostics or life science tools.
PhD or Masters in a health-related disciple.
MBA.
Strong financial modelling skills.
Board experience.
Line management experience.
Experience in creating and executing development strategies for growth companies.
Understanding and experience navigating FDA regulatory process.
Experience protecting IP assets.
Understanding and experience of the US healthcare market.
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