Investment Associate
San Francisco, CA
The Schmidt Family Foundation – Impact Investing /
On-site
Established in 2006 by Wendy and Eric Schmidt, the Schmidt Family Foundation (TSFF) works to restore a balanced relationship between people and planet. Through our grantmaking and investments, we partner with communities around the world in working for renewable energy, resilient food systems, healthy oceans and the protection of human rights. We pursue our mission through three, innovative and thoughtful strategies:
1) The 11th Hour Project
3) Schmidt Marine Technology Partners (SMTP)
The Schmidt Family Foundation is a private foundation with growing assets of over $2B and an impact investment portfolio of approximately $160M of AUM.
Position Description
The Impact Investing Program seeks an Investment Associate to support the due diligence of investments. The Program seeks to preserve its capital by making impact-first investments across five issue areas: sustainable agriculture, clean energy, human rights, circular economy, and marine conservation. With exciting growth over the last few years, the Program is expanding the team with this new Associate position. The Associate will contribute to investment analyses across all five issue areas.
The ideal candidate will be a results-oriented and collaborative early-career investment professional with experience in conducting due diligence processes in private, early-stage investments. This role requires high attention to detail, initiative, and a passion for the Foundation’s mission. The successful candidate will be self-motivated and an adaptable team player as the Program continues to build out its investment and operating strategy. This role will report to the Portfolio Manager as part of a 7-person investing team.
Key Responsibilities
- Pipeline development: Conduct online research of investment databases and relevant industry publications to screen potential opportunities based on the Program’s investment criteria. Review materials from groups like CREO and Mission Investors Exchange to add to the pipeline.
- Due diligence: Perform due diligence on pipeline companies, including financial, business, and impact assessments. This involves sector-specific market research, financial analysis, competitive assessment, and risk mitigation. The Associate will perform due diligence through online research, and interviews with various stakeholders, including management teams (C-suite and Board of Directors), suppliers, and investors. Additionally, the Associate will engage in deep financial modeling, including company valuations.
- Investment recommendations: Draft investment materials for the Investment Committee, including investment memos, graphs and charts, appendices, and PowerPoint presentations.
- Closing: Standardize the investment closing process with the legal department by collecting company legal documents, providing input on term sheets, and contributing to legal agreements such as subscription and loan documents.
- Follow-on investments: Coordinate with the Investment Analyst responsible for portfolio monitoring regarding requests from portfolio companies for additional capital. Perform due diligence and investment recommendations for these follow-on investments.
- Strategy: Play a key role in identifying new sectors of interest and issue areas to drive the strategic direction and expansion of the impact investment program.
- Systems: Maintain and implement processes and policies for the operational efficiency of the Program, including Salesforce (for the management of investment pipeline), and procedures manuals.
Desired Knowledge and Experience
- At least 5 years of work experience, with a minimum 2-4 years of relevant experience conducting due diligence processes of private investments at an impact investing firm, venture fund, investment bank, or similar.
- Strong financial modeling and analysis skills demonstrated by the ability to generate financial models, build financial statements, analyze historical financials, run pro forma projections, and develop company valuation models.
- Experience with direct equity investments in early-stage companies is strongly desired.
- Ability to research, summarize and present qualitative information from analyst, industry, and government reports.
- Experience conducting meetings with startup companies and investors to discuss investment opportunities.
- Interest and experience (professional or in volunteer capacities) in one or more of the Program’s main issue areas is strongly desired.
- Bachelor’s degree in Finance, Accounting, or a related field, or equivalent experience with a strong grounding in finance and accounting.
- Strong attention to detail and commitment to consistently providing high-quality deliverables.
- Self-motivated individual capable of working independently and proactively to manage multiple projects at once and meeting deadlines even when priorities change.
- Effective interpersonal skills to excel in a highly collaborative Program and Foundation team culture.
$140,000 - $160,000 a year
The position is based in the San Francisco Bay Area with a hybrid in-office/remote model. The Associate is required to spend three days a week in the Foundation’s San Francisco office. The ideal candidate will be already located in the Bay Area.
To apply, please provide your resume and a cover letter that expresses both your passion for the mission and fit for the role, as well as references (candidates will be notified in advance of any outreach to your references) Applications will be reviewed on an ongoing basis until the position is filled.
This is an exempt position.
The Schmidt Family Foundation (TSFF) is an equal opportunity employer and we strive to create an atmosphere where diversity of identity, experience, and background are welcomed, valued, and supported. We believe that diversity brings about greater results on all levels and we aim to use our resources to generate greater impact through our work. Candidates who contribute to this diversity are strongly encouraged to apply.
