Head of Venture Capital, Funds and Capital Partnerships
CDC is the UK’s development finance institution. Founded 70 years ago, we invest in the most challenging markets of Africa and South Asia with the aim of supporting economic development. CDC has net assets of £5.1bn, with over 1300 growing businesses in the portfolio.
Last year we committed over £1billion of capital across 50 transactions.
CDC is wholly owned by the UK government, who has committed a further £3.5bn of capital for CDC to deploy over the next two to three years.
We are expanding our presence in Africa and South Asia with further new offices openings in 2020.
At CDC, we take an entrepreneurial approach to investment. We think innovatively about ways to deploy our capital, attract and mobilise other investors, and drive transformational impact.
Primarily, CDC invests to achieve impact and a financial return which is reinvested into more businesses. We aim to create jobs and accelerate economic prosperity and focus on sectors that will do this; manufacturing, food and agriculture, infrastructure, financial institutions, construction, health and education.
CDC works with like-minded ambitious people who are primarily motivated by our mission to deliver impact. We are a growing team of over 400 and place immense value on diversity within our organisation.
Read more about us on our website cdcgroup.com
Team and role overview Recently, CDC has been investing in venture capital fund managers, in South Asia and Africa and now seeks to expand on that strategy by developing in addition a co-investment, direct and accelerator strategy (known as Catalyst Strategies), each designed to unlock or accelerate a market in Africa or South Asia that could bring significant development impact. To enable this, each strategy seeks to make a series of catalysing investments and bear more risk at the portfolio level than CDC’s main portfolio. Purpose The Venture Capital team sits within CDC’s Funds and Capital Partnership team (FCP), which manages all of CDC’s fund investing and VC co-investment activities – a central pillar of CDC’s strategy. Through the FCP team, CDC is an LP in over 100 funds across emerging markets and is the largest single investor in private equity funds in Africa. We are currently looking to recruit a Head, Venture Capital for the team. Specifically, this person will:
Lead and manage CDC’s venture investing program, consisting of early growth-stage VC fund investments (as a limited partner), co-investments and early stage direct VC investments, typically Series B+ rounds
Manage existing and develop new corporate technology-related initiatives to position CDC as a key convener on the topics of venture investing in CDC’s core markets, and the opportunity/impact of disruptive technology on emerging market economies and industry sectors.
Act as a focal point of collaboration with internal stakeholders to ensure alignment between CDC’s venture investment thesis, sector focus, and CDC’s direct and intermediary industry expertise.
This person will be based in London, United Kingdom and will report to the Managing Director & Head of the Funds and Capital Partnerships. S/he will be a product head for a new business line and manage staff based in London as well as in locations across South Asia and Africa. Responsibilities New investments
Develop CDC’s venture investment thesis and sectoral focus to align with CDC’s main product/business lines
Generate and deliver a venture investment pipeline in target geographies and sectors based on rigorous due diligence of prospective start-ups, strong technology analysis, business model and financial valuation.
Provide thought leadership on breakthrough technology trends and develop a holistic investment, advisory and strategic engagement approach for CDC.
Promote partnership and knowledge-sharing with internal stakeholders including CDC’s mainstream businesses and clients to identify potential opportunities and facilitate appropriate linkages with technology companies.
Proactively foster collaboration and manage relationships across the broader technology and venture ecosystem including industry strategic investors, top tier VCs, entrepreneurs, impact investors and the broader development finance community.
Support and manage a high-performing team of direct and indirect reports in 3 locations globally.
Manage existing portfolio of VC fund investments and co-investments for growth and exits
Oversee direct VC investments
Active engagement with portfolio funds and other investors, including taking relevant advisory board seats where appropriate
Monitor and manage financial, impact and ESG performance and risk of portfolio
Proactively seek to add value to funds in the portfolio, working closely with Development Impact, ESG, Value Creation Strategies, Finance and Legal teams
Team building, operations and knowledge sharing
Build and maintain an effective network in the impact investing industry
Oversee other investment professionals on investments or portfolio management
Help to manage and develop other VC team members and contribute towards building a team culture which promotes knowledge sharing and learning
Develop and sustain expertise on target VC markets
Support and suggest improvements to operations
Contribute to team meetings and broader CDC initiatives (e.g. sector working groups) and develop collaborative working relationships with other CDC teams
Design and develop of the strategic direction
Act as an ambassador for CDC, including speaking at conferences and engaging with agreed stakeholders
The candidate Background, skills, aptitude
Extensive career, having developed and managed VC portfolio of direct investments including transactions that have exited, of which some years at General Partner level with established VC Fund, Corporate VC or in-house BD/M&A group, as a direct investor.
Experienced investing across stages from Seed-Series C
Experience as a limited partner investor in venture funds is a plus
Demonstrated investment track record in sourcing, structuring, managing and exiting transactions, with strong and consistent cash returns across a portfolio.
Significant emerging markets footprint/experience preferred, driven by a passion for global development.
Extensive personal network across the international VC community
Entrepreneurial experience across spectrum from start-up ecosystems to business interactions with large corporations.
Proven skills in managing a sizable team; openness to feedback and new ideas with an ability to guide staff to solutions from problems.
Strong understanding of disruptive dynamics in sectors such as fintech, eLogistics, edutech, healthtech and clean energies.
Strategic agility, with the ability to develop and execute VC investment thesis and strategy in alignment with corporate objectives and the need to work across business lines.
Ability to oversee development and implementation of convening initiatives such as catalyst accelerators and other corporate programs in line with an innovation strategy.
High emotional intelligence and work ethic, able to contribute meaningfully in less-defined roles.
Strong commitment to knowledge management.
Excellent written and oral communication skills, a willingness to be proactive in contacting people and learning about new developments.
A Master's degree or equivalent professional qualification in finance or business.
CDC is working with DMD Consulting CDC’s Values We look for colleagues who are
Impact-led and commercially rigorous
Tenacious in the face of challenges
Collaborative and caring
CDC is committed to diversity and inclusion and welcomes all applicants regardless of gender, age, educational background, national origin, ethnic origin, disability, sexual orientation and religion.
Please provide a cover letter with your application Role opened: 29 July 2020 Role closes: 28 August 2020 Salary: Competitive