Venture fundraising was down in the first quarter of 2012, according to Thomson Reuters and the National Venture Capital Association (NVCA). Forty-two US venture capital funds raised $4.9 billion for the quarter, marking a 35 percent decrease by dollar commitments and a 9 percent decline by number of funds compared to the first quarter of 2011, which saw 46 funds raise $7.6 billion during the period. The number of funds raising money during the quarter fell to its lowest levels since the third quarter of 2009, when 36 venture capital funds saw new capital commitments, according to Thomson Reuters and NVCA.
First quarter 2012 venture capital fundraising was led by Menlo Park, California-based Andreessen Horowitz Fund III, L.P. which raised $1.5 billion, the firm’s largest fund to date. Canaan Partners and Bain Capital Ventures also each raised $600 million during the first quarter of 2012.
And Boulder, Colorado-based first-time fund Fraser McCombs Ventures, L.P. raised $16.9 million for its maiden offering.
At the heart of the venture industry are the entrepreneurs that attract the commitments and this week’s job of the week is for a high profile role at an association which is promoting venture at its roots.
The National Association of Seed & Venture Funds (NASVF) is an international membership organization supporting the growth of seed and early stage innovation capital collaborating with public and private fund managers and tech transfer professionals to back talented entrepreneurs.
NASVF began in 1993 as an ad-hoc group of practitioners seeking the best models to encourage capital formation in their states, particularly for new technology ventures. These founders continued to meet each year and in 1997 incorporated the group as a not-for-profit organization named the National Association of State Venture Funds. The name was changed in 2000 to reflect the Association’s expanding service to private sector funds and programs.
Membership has grown from 120 organizations in 2008 to 200 today. The NASVF annual conference draws an average of 350 participants. This October the conference will be held in Cleveland, Ohio titled, Innovation Capital: Seeding Tomorrow’s Opportunities.
NASVF is also engaged in technology commercialization assessment and economic impact studies and has formed alliances with strategic partners such as Gust, EquityNet and Shareholder InSite. NASVF continues to seek new partners to provide value-added programs to its organization.
The growth potential from these and other opportunities requires additional leadership for NASVF. Scroll down for further details on the type of candidate the association is looking for to fill the shoes of a new president and CEO.
***Job of the Week***
Job Title: President and Chief Executive Officer
Association: National Association of Seed and Venture Funds (NASVF)
Salary: Base salary and merit-based bonus is dependent upon qualification and experience.
Location: Cleveland, Ohio Area
Firm Description: NASVF was established in 1993 to promote best practices in the formation and deployment of innovation capital across the US. The association has a growing membership base of over 800 seed and early stage fund managers, angel investors, state and regional economic development offices, and university technology transfer organizations. NASVF has a core management staff of four professionals with additional support and oversight provided by a 13-member Board of Directors who are prominent fund managers and development officials.
Job Description (as cited by NASVF): The president and CEO is responsible for executing all aspects of the association and the educational foundation activities. Strong leadership of the team and the board will be critical to success. Communication with a broad set of key stakeholders, including members, complementing associations, federal and state partners will enhance the effectiveness of the organization. The CEO will have a dynamic leadership style and the ability to articulate and execute a strong vision for the organization. This will be critical to continued success in member engagement, educational programs and fundraising.
Qualifications/Experience (as cited by NASVF):
– Bachelor’s Degree with 7-10 years’ experience in association management, venture capital or technology-based economic development related industry. Graduate Degree a plus.
– Must have high energy and entrepreneurial drive.
– Must understand regional, state and Federal grant program management and fiscal control.
– Ability to work with multiple stakeholders to execute against the organizational vision.
– Successful experience as a manager, specifically with regard to planning, personnel, budget and client relations within growing organizations.
– Knowledge of the industry issues facing emerging and developing regions of the US
– Proven track record of fundraising.
– Preparation and implementation of business and strategic plans.
– Provision of services to members or customers, including conferences, projects and events.
Interested candidates should submit a resume and cover letter to: [email protected]
For more private equity job opportunities head over to the peHUB career center, co-hosted with eFinancialCareers.com.
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