Acumen Fund is a global non-profit venture capital fund, focused on supporting the delivery of critical services - water, health, housing, energy, agriculture - at affordable prices to the four billion people who lack access in India, Pakistan, and East Africa. Acumen Fund exists to help end poverty by changing how the world addresses it.
It does this in two ways: (1) by investing patient capital to identify, strengthen and scale business models that effectively serve the poor and (2) by championing this approach as an effective complement to traditional aid,
which can create dependence, or pure market approaches, which can bypass the actual needs of the poor. With more than $35 million invested in South Asia and Africa, and offices in India, Pakistan, Kenya and New York, Acumen Fund addresses problems of poverty using market based approaches. Acumen Fund's vision is that one day every human being will have access to the critical goods and services they need so that they can make decisions and choices for themselves and pursue lives of greater purpose. This is where dignity starts - not just for the poor but for everyone on earth.
Over the years, Acumen Fund has demonstrated an ability to deploy capital, and as an active investor of patient capital, an ability to work closely to grow portfolio companies. We are now in the process of systematizing our capability to deliver world-class post-investment management support to our portfolio companies. The opportunity described below is a high-impact, high-profile role to develop a new function within Acumen Fund.
Position Description
The Manager will directly oversee Acumen Fund's post-investment management processes, from assessing theneeds of our portfolio companies to designing the most appropriate strategy considering available best-practices
and our unique market in addition to developing the capability within the organization to provide management assistance. Finally s/he will manage our ongoing implementation, including building the necessary team of internal and external resources for direct engagement with critical portfolio company challenges. The Manager will be expected to build a successful capability in a fast-changing and entrepreneurial environment, and will be expected to bring exceptional judgment, deep operational expertise and an excellent track record of similar accomplishment. Given the high-profile nature of the role, the Manager, while sit globally and will report directly to the Chief Investment Officer.
Specifically, the Manager will be expected to:
Coordinate the assessment of portfolio company needs and recommend an appropriate solution
- Assess the nature of portfolio company issues
- Work closely with coverage teams and metrics manager to understand requirements for and history of Acumen Fund involvement in portfolio company management
- Assess best practice post-investment management strategies, capabilities and outcomes
- Develop an understanding of Acumen Fund and portfolio company team skills and gaps
- Design and recommend an appropriate strategy to build and implement a world-class post-investment management capability at Acumen Fund
Develop Acumen Fund's Performance Management capability into a world-class function
- Design appropriate implementation schedule based on existing Acumen Fund investment process, and new post-investment management strategy, including First 100-day plans, ongoing monitoring and data collection and feedback mechanisms to the companies
- Build Portfolio team skills for managing day-to-day portfolio performance issues and serving as Board members
- Build external resources capable of providing on-going assistance and support to portfolio companies as necessary (strategic and specialized tactical resources - accounting, finance, IT and human resources)
Manage ongoing Performance Management to achieve portfolio company and Acumen Fund objectives
- Work with the metrics team to identify, capture, analyze and present relevant performance metrics on a timely basis
- Ensure portfolio team and internal resources are allocated optimally:
-Creates and delivers First 100 day plans to understand near-term value creation opportunities
- Delivers appropriate strategic and tactical advice and support to help portfolio companies achieve business plan objectives.
- Ensure external resources are allocated optimally:
- Manage the deployment of Acumen Fund Fellow resources to portfolio companies to ensure optimal allocation (review Terms of Reference and placements; solicit Fellows' input and feedback)
- Coordinate inbound pro bono support and match with the needs of portfolio companies - Manage annual review exercises and knowledge sharing:
- Conduct the Annual Portfolio Review and Forced Ranking exercises
- Using internal and external resources, coordinate a series of country-specific and global portfolio trainings or gatherings, on relevant topics such as: supply chain management, governance, attracting and retaining talent, growth management, and other topics of relevance to portfolio companies in this space
- Manage portfolio learnings and communications from the CIO
- Work with the CIO, coverage teams and the portfolio company on select high priority engagements
Qualifications
Candidates for the role should have a passionate commitment to Acumen Fund's mission and business model, and respect for the organization's core values: generosity, accountability, humility, audacity, listening, leadership,
and respect. Candidates will have a strong entrepreneurial spirit, a blend of private sector and non-profit experience and particular strengths in diagnosing and resolving complex organizational and financial problems.
Additionally, they will have the following attributes:
- 8-10 years of work experience in management consulting, private equity, venture capital, start up businesses, or a related area, including evidence of successful accomplishment in challenging turnaround situations of early stage companies
- Professional experience working in and commitment to serving underserved populations in emerging markets strongly preferred (experience in one of Acumen Fund's six markets and/or local language abilities are a significant plus)
- Very strong business analysis and financial skills, as demonstrated by prior experience;
- Excellent written and oral communication skills including the ability to present arguments and analysis in a clear and succinct manner to Acumen Fund management, partners and investees;
- Excellent interpersonal skills including the ability to manage relationships with investees, partners and advisors
- A combination of a serious work ethic and a sense of humor
- An advanced degree in business administration or a related field is preferred.
Compensation
Acumen Fund offers a competitive compensation package, commensurate with experience.
Location
The position will be recruited from New York but will likely be based in one of Acumen Fund's country offices in Nairobi, Hyderabad or Karachi. There is also potential for a placement in Dubai. Frequent travel to India, Pakistan
and East Africa will be required.
To Apply
Please send a cover letter and resume to portfolio_jobs@acumenfund.org with "Portfolio Performance Management" in the subject line.
