Director, SSBCI, Emerging & Comm. Funds Programs

*Applicants MUST submit a cover letter with resume to be considered. 

*This position will require in-office presence. Hybrid work schedules may be possible based on specific job duties and consistent with ESD policy.

*Minorities, women, and individuals with disabilities are encouraged to apply. Please contact Human Resources if you require an accommodation.

BASIC FUNCTION:  

The Director, SSBCI Emerging and Community Funds Programs will be part of the New York Ventures team, integrally involved in supporting the work of managing and overseeing the State Small Business Credit Initiative’s Emerging and Regional Partner and Community and Regional Partner fund programs.  These programs invest in first, second and third time or regional fund managers and accelerator partners that are investing in high-growth NYS companies. The position will be responsible for recruiting, evaluating, executing, overseeing and managing relationships with fund partners to grow emerging companies in New York.

WORK PERFORMED:

The Emerging and Regional Partner and Community and Regional Partner program funds, are “fund of funds” programs funded with $152M of capital and created to increase access to capital for innovative start-up companies with high growth potential across New York State, in particular to help close gaps in access to venture capital due to location, industry or background. We look for fund partners who are investing in exceptional founders from diverse backgrounds that are solving large-scale problems using innovative technologies. These programs were created through funding provided by the US Treasury’s State Small Business Credit Initiative. NY Ventures is the venture capital group under the Small Business & Technology Development Division at Empire State Development (ESD), the economic development agency of New York State. The team at NY Ventures manages over $300M of funds for its direct investments in startups and its fund of funds programs. New York Ventures supports the innovation ecosystem with investments in diverse entrepreneurs and their high growth companies across the state to contribute to a healthy, sustainable and economically vibrant future for all New Yorkers.  https://esd.ny.gov/venture-capital

Work Performed: The Director will primarily be responsible for providing support to NY Ventures leadership and senior staff in all aspects of executing the program's investment strategy. The Director will also collaborate with and support other programs managed by NY Ventures based on priorities.   Job responsibilities may include, but are not limited to:

• Manage and support the Community and Regional Partner and the Emerging and Regional Partner program funds, including building and maintaining relationships with fund managers and supporting the success of their operations.
• Track, collect, summarize and report the outcomes of the program and report the ultimate success of the investments to stakeholders including within ESD and to the US Treasury.
• Lead the effort to market, recruit and identify partner funds especially in underserved geographies and those that are serving founders and entrepreneurs in marginalized and underrepresented, underestimated communities as defined by program guidelines and New York State.
• Cultivate relationships with other partners within the network to grow and build awareness of both fund programs.
• Manage the diligence process, including coordination with other team members for scoring and evaluation, supporting selection process including preparation of materials for investment recommendations to the Managing Director and the ESD Board of Directors.
• Coordinate work with legal representatives to establish agreements for program implementation.
• Track and monitor programs and manage reallocation of underutilized funds, termination or amendments to agreements, and any future RFPs under the program as decided with and by NY Ventures leadership.
• Provide generalized support and guidance to partners and the companies our partners invest in, including, as appropriate, promotion of SSBCI programs.
• Represent ESD and/or NY Ventures at conferences and meetings, make presentations and participat