NAACP Managing Director, Fund of Funds

Position Summary

The NAACP is establishing a subsidiary venture capital fund of funds, “NAACP Capital” to achieve top quartile returns while investing aligned with the NAACP’s mission of achieving racial equity. This multi-million dollar fund will incorporate multiple asset classes and function as an independent Fund of Funds with some direct co-investing.

The NAACP is seeking a Managing Director (MD) for NAACP Capital. You will be responsible for overseeing the overall strategy, performance, and operations of the fund. You will lead a team of investment professionals, including investment managers and analysts, to identify and evaluate potential investments, manage the portfolio, and deliver strong returns to investors.

This position is hybrid involving moderate-to frequent travel, including Washington, DC and meetings with the independent Fund General Partner Board of five.

Key Responsibilities/Duties

Develop and implement the overall investment strategy and goals of the fund in consultation with the Fund General Partner Board and senior management team you will hire.

• Hire a lean investment team
• Lead the investment team in sourcing, evaluating, and managing potential investments, including conducting due diligence and negotiating terms with venture capital fund managers
• Develop and maintain strong relationships with existing and potential investors to raise additional capital and ensure ongoing support for the fund
• Monitor the performance of the fund and individual investments, regularly reporting to the Fund General Partner Board and investors on performance, risks, and opportunities
• Manage the fund's operations, including financial reporting, compliance, and regulatory requirements
• Develop and maintain a strong network of contacts in the venture capital industry, including fund managers, entrepreneurs, and other key stakeholders
• Represent the fund in the broader venture capital community, speaking at industry events and engaging in thought leadership activities
• Lead, manage and motivate the investment team to achieve exceptional performance, fostering a culture of collaboration, innovation, and excellence.
• Leverage the brand and high-level relationships of the NAACP to get introductions and set up pitch meetings.
• Manage the fundraise, including finalizing raise strategy and story, presenting to prospective LPs and taking an ownership mentality to all aspects of the process.
  
  

Qualifications

At least 10 years of experience in venture capital or private equity, with a proven track record of success in managing investment portfolios and delivering strong returns to investors. A demonstrated track record of working on issues of racial equity.

• Experience in fundraising and investor relations, with a proven ability to build and maintain strong relationships with investors
• Strong analytical skills, with the ability to evaluate investment opportunities and manage risk effectively
• Excellent communication and interpersonal skills, with the ability to lead and inspire a team and engage effectively with external stakeholders
• Strong knowledge of the venture capital industry, including market trends, competitive landscape, and emerging technologies and business models
• Demonstrated leadership ability, with the ability to inspire and motivate a team towards a common goal
• A Bachelor's degree in business, finance, economics, or a related field is required, while an MBA or other advanced degree is preferred
• Strong network in the VC and startup ecosystem
• DC area preferred but ability to travel frequently is required
  
  

If you are an experienced venture capital professional with a passion for innovation, a belief that social impact investing is not a concessionary strategy, a track record in creating value, and you meet or exceed the requirements above, we encourage you to apply for this exciting newly created opportunity.

Application Instructions

As a part of your cover letter, please provide brief responses to the 5 questions below. Few sentences please - no more than 150 words for each.

• Are you authorized to work in the U.S.?
• Where did you hear about this role?
• What resonates most for you about the NAACP mission?
• How many years of actual VC or private equity experience do you have?
• Share a few sentences highlights on your track record of working on issues of racial equity.
• Where are you currently based/location?
• What are your career aspirations for future?
  
  

Benefits

Competitive compensation including carry and benefits package. To be discussed in a later phase for those selected to move forward.

Statement of Non-Discrimination

In keeping with our beliefs and goals, no employee or applicant will face discrimination/ harassment based on: race, color, ancestry, national origin, religion, age, gender, marital/ domestic partner status, sexual orientation, gender identity, disability status, or veteran status.

Many thanks for your interest in this inaugural key senior leadership role. We look forward to reviewing your CV and our hiring team will be in touch with any next steps with those who are the best fit for the role, responsibilities, and NAACP/team.