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Partnership Fund for New York City Associate

Title: Associate (Pre-MBA, 2-year position)

Start Date: Immediate

The Partnership Fund for New York City is a social impact investment fund focused on creating jobs in New York City and growing the local economy. Our investments range broadly—from projects in inner city neighborhoods that help provide employment and better services to underserved populations to those that catalyze the growth of emerging tech sectors such as life sciences and advanced manufacturing. In response to the Covid-19 pandemic, in 2020 we launched the NYC Small Business Resource Network, which is a public-private partnership to accelerate small business recovery, in partnership with NYC and the five borough chambers of commerce. We also operate the FinTech Innovation Lab, which connects emerging fintech companies to large financial institutions, and the Transit Tech Lab, which is a partnership with the MTA to identify new technologies for public transit.

The Partnership Fund was started in 1996 by Henry Kravis under the auspices of the Partnership for New York City, the city’s premier business organization. Our funding was provided by the private sector. We have invested over $180 million since inception.

Interested candidates can apply here: https://partnershipfornyc.typeform.com/to/RiZh1Pje

Responsibilities

Investment Review
  • Evaluate business plans and provide feedback to senior management

  • Assist senior management and a team of industry experts in conducting due diligence and analyzing investments. Build and sensitize detailed financial models.

  • Prepare investment memoranda for approval from the Partnership Fund board

  • Draft and execute deal documents with senior management and pro bono legal assistance

Portfolio Management
  • Monitor financial and qualitative performance of portfolio companies and keep Partnership Fund senior management informed

  • Update financial models and reports of portfolio companies

Advance Fund Mission
  • Contribute to building the organization. Help build, maintain and maximize the Fund network

  • Conduct research in support of the Fund’s initiatives

  • Perform organizational tasks to ensure success of the Fund

Qualifications

  • At least two years’ work experience involving in-depth financial modeling and corporate valuation (most commonly investment banking, but can be other roles with demonstrated financial experience)

  • Excellent financial modeling, analytical skills, and ability to understand business issues

  • Strong commitment to social impact and entrepreneurship and to the Fund’s double bottom line mission

  • Exemplary interpersonal and verbal/written communication skills

This position may be partially remote during the COVID-19 pandemic.

The Partnership for New York City is deeply committed to providing equal employment opportunities to all individuals without regard to age, race, creed, color, national origin, sexual orientation, gender identity, gender expression, transgender or intersex status, military status, sex, disability, predisposing genetic characteristics, marital status, familial status, caregiver status, domestic violence victim status and intern status or any other characteristic or status protected by applicable law.

Co-head of FinTech Innovation Lab New York

The Partnership Fund was founded by Henry Kravis in 1996 and capitalized by New York’s global leaders of business and finance who invested $1 million each in a venture that would require their money, time and influence to promote business development and job creation in the city’s growth industries and to extend opportunities to participate in the economy to all of the city’s residents and neighborhoods.   The Partnership Fund has $170mm under management and is the investment arm of the Partnership for New York City.

The FinTech Innovation Lab is one of the signature programs of the Partnership Fund for NYC. Founded in 2010 in partnership with Accenture, the FinTech Innovation Lab New York provides early- and growth-stage fintech and insurtech companies with unparalleled access to the world’s leading financial institutions. The Lab was established to help make New York a leader in fintech and grow technology jobs by leveraging the concentration of large financial services institutions and deep domain expertise in New York. To date, companies that have participated in the FinTech Innovation Lab have raised more than $1.2 billion and completed more than 240 pilot programs, and 13 of the companies have been acquired.

The Co-head of the FinTech Innovation Lab will report to the CEO of the Partnership Fund for New York City. The individual will be responsible for planning, directing and executing the activities of the FinTech Innovation Lab (FIL) working closely with senior executives at financial institutions, management teams of emerging tech companies and the venture community. The Co-head of the FinTech Lab will ensure all Lab goals and objectives are achieved and continue to increase the visibility of the Lab online and offline.  The individual will also lead outreach into the entrepreneurial and venture community to source high quality companies for the Lab.

Essential Functions

Lead all aspects of the FinTech Innovation Lab from recruitment of applicants, selection process to determine the Lab class, organizing mentorship and other events during the program through Demo Day. Includes:

  • Recruitment: Lead outreach to the relevant tech communities (fintech, enterprise, insurtech) to recruit candidates to apply for the programs, including meeting investors, entrepreneurs and other key stakeholders in the fintech and insurtech spaces.  Organize panels and other events to raise the visibility of the program within the fintech, insurtech and NYC enterprise tech communities. Participate on panel discussions in partnership with other organizations.
  • Screening: Manage the initial review of the applicants, coordinate the review of relevant candidates with the participating financial institutions (FI) and VCs.   Organize and manage the selection of finalist companies recommended by the participating corporates and VCs.
  • Launch: In coordination with the Partnership’s events team, organize and execute launch events to introduce each set of program companies to the relevant participants.
  • Orientation: Conduct orientation sessions for program tech companies as well as orientation sessions with other program participants.
  • During Program: Work with the events team to schedule and attend the first meetings between Lab companies and financial institutions and prepare the companies for those meetings; Manage the schedule of Office Hours, Workshops and other content sessions with industry executives; Convene periodic meetings and calls for the representatives of the participating financial institutions/mentors/VCs to assess progress on an interim basis; Convene periodic meetings for program tech Companies.
  • Demo Day: In coordination with Partnership’s events team, organize and execute Demo Day for program tech companies to present to audience of VCs, senior financial institution executives, mentors and press.  Includes coaching sessions with program tech companies and all execution of event logistics.
  • Post Program: Schedule and manage feedback sessions for the program tech companies and calls with the participating corporates/mentors/VCs.  Proactively develop ways to support graduates post program, including relevant introductions to partners and visibility within Partnership network.
  • Other: Plan and execute events that support past graduates of the programs.

Investment-Related

  • Lead negotiations with selected program tech companies on warrant coverage taken by the Fund.
  • Work with SVP and CEO of the Partnership Fund on review and approval of any direct investments made by Partnership Fund in graduates of the FinTech Innovation Lab.
  • Work closely with the reporting team to track financial and operational progress of all Lab companies, including internal and external reporting to FIL investors, Partnership Fund board and external constituents.

Communications

  • Manage communications to ensure smooth, timely and efficient operations of the program.
  • Collaborate and coordinate with the Partnership Fund marketing /PR resources to identify opportunities for positive positioning of the program in traditional and social media.
  • Public Relations/Social Media/Web presence – Develop and deploy a public relations and social media strategy and enlist support with implementation; maintain and update the program websites.

Diversity & Inclusion

  • Support the development of the Fintech Fellows Program, focused on providing access to underrepresented technology talent in financial services
  • Increase outreach to ensure the Lab opportunity is presented to diverse founders

Other

  • Proactively remain informed and current on competitive landscape and key trends in fintech and digital health spaces.
  • Work closely with Partnership Fund CEO to deepen relationships with participating corporates.
  • Work collaboratively with Accenture, which is the Fund’s partner in the FinTech Innovation Lab.

Qualifications

  • MBA preferred (but not required) and at least 5-7 years’ work experience in investing/finance and/or business development post business school.
  • Some financial services experience preferred.
  • Experience and passion for the NYC start up ecosystem a plus.
  • Excellent quantitative/analytical and negotiation skills.
  • Excellent writing, communication, marketing and organizational skills.
  • Skillful at building relationships with senior executives. Able to manage relationships with Partnership Fund network, entrepreneurs and Partnership staff.
  • Business knowledge: Able to understand business issues and incorporate appropriately.
  • Able to work in a small staff environment. Willing to perform, and where needed assume responsibility for, organizational tasks.
  • Experience with engaging stakeholders and increasing reach digitally

More Information

To listen to an info session about the position, you can find a recording of the session here.

After learning more about the opportunity, if the role is of interest and a strong fit, we ask that you submit your resume and answer a few questions here to be considered for the next round of evaluation.

Posted 9/16/2020, updated 9/29

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