Job of the Week: Calling for a Venture Healthcare Fund Manager

This week Mayo Clinic Ventures is recruiting for an investments and new venture director to manage a venture capital investment fund co-sponsored by Mayo Clinic Ventures and Mayo Clinic Treasury Services. The position will be based in Rochester, Minnesota and will include some travel.

Mayo Clinic Ventures (formerly the Office of Intellectual Property) works closely with Mayo Clinic physicians and scientists to unveil inventions and discoveries that will “truly transform healthcare”, according to the group’s website. Mayo Clinic Ventures is part of The Minnesota Private College Council and its affiliate, the Minnesota Private College Fund, which represent private nonprofit higher education in Minnesota.

According to the job description, the new venture director will be responsible for “identifying and evaluating venture fund investment opportunities; implementing venture investment fund strategies based upon guidelines set forth by an administrative investment committee; leading and executing the investment of institutional funds; and demonstrating a financial or strategic return on these opportunities.”

Responsibilities highlighted by the group include presenting opportunities to potential venture investment partners, negotiating financial terms and deal structures, conducting due diligence, writing and presenting investment summary recommendations, obtaining investment committee approval, and managing deal closings.

Due diligence responsibilities as stated by the Mayo Clinic Ventures may include an analysis of healthcare technologies, unmet market needs, industry competition, management, company financing and capitalization, investment risks, and company operations, including site visits when appropriate.

Other responsibilities listed include the development of effective systems and processes for managing and measuring performance of the new ventures investment programs and tracking and completing quarterly financial reports on all Mayo Clinic Ventures investments.

Relevant experience required is listed as a minimum of seven to ten years of related business experience in areas such as managing private equity investments; directing investment strategy; identifying, evaluation and developing startup companies; negotiating financial terms and deal structures for startup companies; technology business development and licensing; and managing entrepreneurial projects in an academic healthcare or corporate environment. The successful candidate should also be able to demonstrate investment portfolio monitoring and reporting skills.

Other Qualifications as stated by the group that would be desirable include: exposure to, or direct experience working with venture capitalist industry partners, entrepreneurs, and company management teams in the healthcare or technology industries is desirable; ability to effectively present to internal and external stakeholders regarding projects or startup companies.

According to the Minnesota Private College Council website, Mayo Clinic Ventures receives more than one idea per business day from Mayo inventors; has achieved an average success rate of 46 percent over the last 15 years, expressed as the number of inventions disclosed compared to the number commercialized and has been involved in 65 start-up companies.

For further information on the position and to apply please click here.

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