Principal Associate, Venture Capital

Medtronic•Fridley, MN

2d•Onsite

About The Position

At Medtronic you can begin a life-long career of exploration and innovation, while helping champion healthcare access and equity for all. You’ll lead with purpose, breaking down barriers to innovation in a more connected, compassionate world. A Day in the Life Position can be based in Minneapolis, MN or Boston, MA. This role and the broader Ventures group serve an important strategic function within Medtronic. The investments made by the Ventures team enable the acceleration of innovation and new product development in the broader medical device community, which in turn contributes to the fulfillment of Medtronic’s mission to alleviate pain, restore health, and extend life. Responsibilities include selecting and prioritizing markets or sectors of investment interest in conjunction with Medtronic operating units and originating new minority investments in companies of interest. Investment targets are chosen based on both strategic alignment with Medtronic and the potential for strong financial returns. As part of the team, the individual in this position will work closely with VPs, Senior Directors, and other Associates within the pod and the broader Ventures team. Collaboration will also extend to project teams that include personnel from various corporate and business unit functional departments, such as clinical, regulatory, healthcare economics, finance, legal, and information technology. This role involves active participation in investment activities, including financial analysis of potential and existing minority investments. Additional responsibilities include conducting technical, clinical, and market due diligence, as well as investment structuring, negotiation, and closing transactions. Another key aspect of the role is preparing and presenting new investment proposals and recommendations to executive management for consideration. At Medtronic, we bring bold ideas forward with speed and decisiveness to put patients first in everything we do. In-person exchanges are invaluable to our work. We’re working a minimum of 4 days a week onsite as part of our commitment to fostering a culture of professional growth and cross-functional collaboration as we work together to engineer the extraordinary. Responsibilities may include the following and other duties may be assigned: Coordinate due diligence activities on target companies relating to target pro forma financial modeling, target pro forma capitalization table, waterfall, and investment return scenario analysis. Coordinate weekly investment team meeting agendas, logging projects through the evaluation process and engaging in active discussions about the pro’s and con’s of target opportunities. Research and compile clinical and technical assessments of new and existing medical technologies, healthcare services and business models, as well as complete market and competitive analysis and profiling. Prepare monthly reports of venture capital and private equity activity and trends. Participate with the Ventures team in receiving and vetting investment presentations by companies seeking to raise venture and growth capital. Perform analysis to determine potential market size and opportunity for new products and technologies. Support corporate-wide strategic initiatives as well as Ventures/Corporate Development process and capability improvement activities. Prepare presentation materials for meetings with Medtronic constituents relating to approval and reporting investments.

Requirements

Bachelor’s degree plus 7+ years of experience in healthcare or medical technology within one of the following functions: venture capital investing, consulting, investment banking, research & development, business development, or marketing (or 5+ years with an advanced degree)

Nice To Haves

Strong work ethic with high degree of initiative and motivation
Dedicated learner with high level of intellectual curiosity
Proficiency in financial analysis and modeling
Ability to persevere in a field filled with ambiguity and requires “needle in the haystack” persistence to find actionable investments
Team player

Responsibilities

Coordinate due diligence activities on target companies relating to target pro forma financial modeling, target pro forma capitalization table, waterfall, and investment return scenario analysis.
Coordinate weekly investment team meeting agendas, logging projects through the evaluation process and engaging in active discussions about the pro’s and con’s of target opportunities.
Research and compile clinical and technical assessments of new and existing medical technologies, healthcare services and business models, as well as complete market and competitive analysis and profiling.
Prepare monthly reports of venture capital and private equity activity and trends.
Participate with the Ventures team in receiving and vetting investment presentations by companies seeking to raise venture and growth capital.
Perform analysis to determine potential market size and opportunity for new products and technologies.
Support corporate-wide strategic initiatives as well as Ventures/Corporate Development process and capability improvement activities.
Prepare presentation materials for meetings with Medtronic constituents relating to approval and reporting investments.

Benefits

Medtronic offers a competitive Salary and flexible Benefits Package
A commitment to our employees lives at the core of our values.
We recognize their contributions.
They share in the success they help to create.
We offer a wide range of benefits, resources, and competitive compensation plans designed to support you at every career and life stage.
Health, Dental and vision insurance
Health Savings Account
Healthcare Flexible Spending Account
Life insurance
Long-term disability leave
Dependent daycare spending account
Tuition assistance/reimbursement
Simple Steps (global well-being program)
Incentive plans
401(k) plan plus employer contribution and match
Short-term disability
Paid time off
Paid holidays
Employee Stock Purchase Plan
Employee Assistance Program
Non-qualified Retirement Plan Supplement (subject to IRS earning minimums)
Capital Accumulation Plan (available to Vice Presidents and above, or subject to IRS earning minimums).