Principal Ventures

Cleveland Clinic

3d•Hybrid

About The Position

At Cleveland Clinic Health System, we believe in a better future for healthcare. And each of us is responsible for honoring our commitment to excellence, pushing the boundaries and transforming the patient experience, every day. We all have the power to help, heal and change lives — beginning with our own. That’s the power of the Cleveland Clinic Health System team, and The Power of Every One. Join Cleveland Clinic’s Main Campus where research and surgery are advanced, technology is leading-edge, patient care is world class and caregivers are family. Here, you will work alongside a passionate and dedicated team, receive endless support and appreciation, and build a rewarding career with one of the most respected healthcare organizations in the world. The Principal Ventures works closely with the Executive Director and Partners on the Ventures team to identify, evaluate, and recommend investments in startup companies. Supporting a portfolio spanning medical devices, life sciences, and digital health, this individual contributes to all aspects of the Ventures investment program, including research into emerging areas of healthcare innovation, oversight and guidance of junior team members, and execution of special projects. A caregiver in this role works a hybrid schedule from 8:00 a.m. -- 5:00 p.m., with a minimum of three in-office days each week (Mondays and Wednesdays required, plus one additional day), with additional on-site days as business needs require.

Requirements

Bachelor of Arts or Bachelor of Science degree in Economics, Mathematical Sciences, Engineering, Computer Science, Business, or Liberal Arts
Six years of business research and analysis experience and experience with entrepreneurial resources
Proficiency in Excel, PowerPoint, Word, Access, Adobe Acrobat, and other technologies including multiple databases and LinkedIn
Critical thinking skills, decisive judgment and the ability to work with minimal supervision
Excellent interpersonal, oral, and written communication skills
Excellent project management and product management skills and experience

Nice To Haves

PhD or Master’s degree in life sciences
Prior experience in venture capital, investment banking, or management consulting
Strong record of academic achievement
Experience with venture-stage life sciences companies
Scientific and experiential background

Responsibilities

Lead idea generation, market research and diligence activities to create actionable investments into new or existing Cleveland Clinic startup companies.
Build complex financial models that analyze and monitor New Companies’ startups compared to plans and forecasts, as well as to industry standards.
Identify trends in the industry and specific markets for Cleveland Clinic’s startups’ specific technologies and competition.
Coordinate activities with all others in the Cleveland Clinic commercialization team and participate in the ongoing development of the New Companies team by fostering on-going external relationships with entrepreneurial and venture capital communities.
Seek to successfully lead an investment from end-to-end (sourcing to thesis development to diligence to investing) and serve as Member of the Board of Directors of this startup under the direct supervision of the General Manager New Companies.
Interface with other Cleveland Clinic startup board members and Directors to ensure that the goals of the New Companies team are advanced.
Hire a CEO and/or founding executive team through the creation of a strategic hiring plan, writing of job descriptions, and targeted interviews, either organically or through a recruiting firm.
Set a due diligence process for an investment with layered questions and in collaboration with business analytics, finance, and legal team members.
Work with the Cleveland Clinic startup company team to create and deliver investor presentations that are designed to attract and expedite the syndicated investment of external capital into companies formed by the Cleveland Clinic.
Prepare and present reports for Cleveland Clinic’s executive team and other CCF stakeholders.
Other duties as assigned.