We are recruiting for a Director of technology venture investments (TVI) based out of Cardiff or Wrexham with pan Wales travel.
A member of the Investments Leadership team, the director of Technology Venture Investments is responsible for leading the Development Bank of Wales (DBW) early stage technology investing. The Director will lead a team responsible for delivering seed investments and venture capital investments into technology rich companies based in, or relocating to, Wales, and the subsequent management of the venture portfolio.
The individual will lead and manage a team of professionals carrying out both investment and portfolio responsibilities, mainly investing equity but having the flexibility to deploy debt instruments if suitable.
The Director will be fully integrated into the Welsh technology landscape and build relationships with a range of co-investment partners. There is opportunity to shape the future of operational delivery of the funds under management as well as playing a role in securing future funds.
Main duties and responsibilities
- Lead, manage and motivate a team of individuals responsible for investing and the portfolio management of the seed and venture technology Funds managed by DBW. Develop and execute suitable performance management procedures to achieve agreed fund outputs. Focus is on achieving investment targets whilst maintaining the correct balance of risk v return and increasing value in our investments working towards a profitable and timely exit for DBW. Always operate in accordance with Investment Operating Guidelines and DBW policy and procedures.
- Deliver the appropriate level of portfolio management, including participation at annual asset reviews and bi-annual valuation committees.
- Work closely with the DBW risk team to ensure adequate focus and intervention on underperforming assets in a timely manner.
- In conjunction with other Investment Directors, contribute to the development of DBW fund management strategy within Wales, including the successful delivery of existing funds, identification of market opportunities and bids for new funds.
- In conjunction with the other Directors prepare quarterly reports for key stakeholders across the range of funds delivered by DBW. Attend the quarterly review meetings with Welsh Government and WEFO and any other stakeholder when required.
- Contribute on quarterly basis to the relevant Risk Registers for DBW
- Build the profile of DBW externally, with regular attendance and presentations at events and networking opportunities as well as maintaining an active personal network.
- Review and/or sanction investment opportunities within personal delegated authority and as a member of the preliminary notification panel approving outline terms and diligence requirements on investment opportunities, ensuring compliance with Investment Operating Guidelines at all times.
- Oversee Fund and Deputy Fund Managers’ sanctioning activity through regular and ongoing review of a sample of their approved deals. In conjunction with other investment-related Directors, ensure the correct balance of risk v return is consistently applied across the group and provide developmental feedback as appropriate.
- Attend Investment Committee alongside the team members for those investments that fall outside the personal delegated authority.
- Champion excellent customer satisfaction looking for opportunities to improve the customer experience through improved processes and increased transparency.
- Work with the marketing and business development team within DBW to drive increased quality investment opportunities to the teams.
- Build strong links with Business Wales, the Welsh Government, the Welsh Universities and business accelerators to increase the profile of DBW and increase the flow of quality investment opportunities.
- Build links with other Seed and Venture Capital investors in the tech space to ensure a high quality source of co-investment is available for DBW.
- Build a network of potential non-executive directors and Chairpersons, along with consultants, which will be able to add value to our investee companies.
- Play a key role in the Welsh Technology landscape integrated with other funders, public sector support, Universities and incubators/accelerators.
- Establish links and partnerships with relevant parties outside of Wales including public sector support, co investors and any potential sources of deal flow.
- Lead a culture of compliance and quality across all areas of work.
- Any other task as may be defined by the Investment Director - Wales to meet the operational needs of the organisation.
Knowledge, skills, abilities and experience
- Excellent leadership skills with a proven track record in technology venture capital investments.
- Experience of delivering investment targets in a pressured environment and/or experience of delivering value adding portfolio management and strong exit experience.
- Experience of investments in the range £200,000 - £5,000,000.
- A strong technology background with an ability to assess complex technology investment propositions.
- Strong financial acumen.
- A track record in providing a high level of customer service and satisfaction.
- A track record in delivering high quality outputs with a focus on compliance.
- A team player with an ability to work across an organisation in a collaborative manner.
- Excellent written and verbal communication skills, including an ability to present to a wide range of audiences.
- A strong motivator, able to motivate a diverse group of individuals with differing levels of experience and drivers.
- A track record in effective performance management and the successful management of change.
- Ability to operate at a senior strategic level.
- Ability to build relationships with high level corporate bodies and stakeholders.
- A pragmatic and commercial mindset with strong negotiation and decision making skills. Ability to prioritise to meet tight timescales.
- Relevant professional qualification or relevant industry experience.
- Well networked in the Welsh business and tech community.
- Understanding of what is needed to meet the demands of Welsh businesses and the public sector based support available.
- Understanding of the DBW Group and its activities.
- Experience of investing public money and an understanding of the eligibility and state aid environment.
- Familiarity with the economic development strategies of the Welsh Government.
- Welsh speaker.
- Previous experience of working in a firm regulated by the Financial Conduct Authority.