Venture Capitalist is responsible for targeting and acquiring profitable investment opportunities on behalf of the company. Manages assets of size $50,000-$2,000,000. Being a Venture Capitalist requires a bachelor's degree in area of specialty and 1-5 years of experience in the field or in a related area. Familiar with a variety of the field's concepts, practices, and procedures. Additionally, Venture Capitalist relies on experience and judgment to plan and accomplish goals. Performs a variety of tasks. A wide degree of creativity and latitude is expected. Typically reports to a manager or head of a unit/department. (Copyright 2024 Salary.com)
The Opportunity
Our studio aims to launch a new venture each year by ideating and testing early-stage business models grounded in Jobs to Be Done (JTBD,) a depth of market, competition, and customer understanding, and aligned strategically with 1848 Ventures’ vision. While many are ultimately shut down, the ventures with the most initial demand and traction are selected for additional investment and matched with a Venture Leader to drive the business plan development, execution and continuous iteration focused on growth and product market fit.
‘Backed by Westfield’ is more than our brand tagline, it indicates the unique relationship with our parent company, Westfield. As the sole funder of 1848 Ventures, Westfield is committed to providing capital to sustain operations and fund new ventures that have the capacity to deliver targeted strategic and financial value to the enterprise. This relationship creates the time and space for the people of 1848 Ventures to focus exclusively on the work that helps us achieve our long-term vision.
Ventures launched and scaled by 1848 Ventures will remain as wholly-owned subsidiaries of Westfield. Success is defined by a combination of long-term strategic and financial value generated for the enterprise. Therefore, the value creation expectations and metrics, while well-defined, differ significantly from those in the traditional capital markets. Our focus on the long term is reflected in our total rewards package for this role which is tied to the performance of the organization.
This is where you come in…
We’re seeking someone with proven experience in growing early-stage ventures and achieving product market fit to lead a business we’ve identified as having the greatest probability of delivering long term value. Our ventures focus on providing an AI powered software platform that is purpose built for small to medium sized businesses (SMBs) in the construction, e-commerce and hospitality industries. To propel the growth of our ventures we are targeting a Venture Leader to join the organization that has a passion for and a depth of understanding of the unique pain points and trends for one of more of the industries we strive to support. The ideal candidate will bring a wealth of experience building SaaS software businesses that cater to our industries, coupled with experience successfully delivering solutions to those segments.
Our Venture Leaders have accountability for the direct and indirect financial performance of the business. They are accountable for building upon the momentum generated from in-market testing of a venture's most critical product and business model hypotheses. Venture Leaders build the initial team and focus on launching the product, gaining customer traction and generating a path to sustainable revenue growth and profitability.
In this role time will be divided across, but not limited to, the below responsibilities:
Responsibilities
Qualifications
Nice-to-haves
Travel
This position is remote or hybrid depending on the candidate’s location and proximity to 1848 Ventures’ Headquarters located outside of Cleveland, Ohio. Expectations are that our Venture Leaders are available to engage with 1848 Ventures’ and Westfield’s leaders in the office, as needed. Additionally, whether remote or hybrid, Venture Leaders will travel when and where necessary based on varying business needs and opportunities to meet with their team for customer discovery, customer engagement, team development, relationship-building, and networking initiatives.
Our hybrid culture is intentional and well-rounded – we select the right time, place, and technology combination to help achieve our goals. We are comfortable working across time zones and work locations. Remote Venture Leaders should expect 33% travel. Venture Leaders who reside within a commutable distance to Westfield Center, Ohio should expect to work from the office at least 3 days per week.
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