Senior Portfolio Manager at Parallel18

Puerto Rico Science Technology & Research Trust•San Juan, PR

4d•Onsite

About The Position

Parallel18, a program of the Puerto Rico Science, Technology, and Research Trust, seeks a seasoned investment professional to serve as the Trust’s central point of accountability for its investments. The role supports the Venture Capital Access Program (VCAP), overseeing investments from sourcing and due diligence through Investment Committee approval, closing, and compliance; oversees the Parallel18 Ventures portfolio and the Trust’s other investment holdings, including monitoring, valuation, follow-on and exit decisions, and value creation; and leads tax credit and structured-finance transactions, including New Markets Tax Credits and research and development tax credits, from structuring through closing and post-closing compliance. The Senior Portfolio Manager executes VCAP investment strategy, manages the full investment process and program compliance, and oversees the health, data integrity, risk, and performance of all Trust investments. The role leads portfolio reviews, valuations, audit support, company reporting, follow-on and exit transactions, and structured-finance and tax-credit transactions. It presents investment recommendations and portfolio matters to the Executive Director and Investment Committee, supplies portfolio data for investor reporting, and supervises analysts, associates, fellows, or interns as assigned. The position works closely with the Capital Formation & Investor Relations Senior Manager and may include other duties assigned by the Executive Director. The position is based in San Juan, Puerto Rico, and is full-time. The job description may change as the organization adapts to new designations. The role requires work outside regular business hours and regular travel throughout Puerto Rico and internationally, mainly to the United States and Latin America.

Requirements

Bachelor’s degree in finance, economics, business, or a STEM field.
At least five years of experience in venture capital, private equity, investment banking, fund management, or structured finance, including at least three years with direct investment or portfolio management responsibility.
At least three years supervising analysts, associates, or cross-functional teams.
Proven track record investing in and supporting early-stage venture-backed companies.
Experience in deal flow, investor relations, limited partner reporting, or fund development within a venture capital firm, accelerator, or fund management platform.
Demonstrated ability to build relationships with institutional investors, allocators, and co-investment partners.
Strong financial modeling, valuation, and analytical skills.
Ability to manage multiple concurrent programs, cohorts, or transactions.
Demonstrated ability to design and implement operational processes, reporting systems, and process improvements.
Advanced proficiency in Microsoft Office, particularly Excel and PowerPoint.
Full professional proficiency in written and spoken English and Spanish, including producing reports with minimal revisions.
Ability to work independently and in cross-functional teams, prioritize under pressure, meet deadlines, follow protocols, and maintain close attention to detail.
Strong work ethic and high personal, ethical, and professional standards; outgoing and positive personality.
Ability to interact with the public, industry, and personnel of federal, state, and local government agencies.
Ability to work outside regular business hours and travel regularly throughout Puerto Rico and internationally, mainly to the United States and Latin America.
Valid Puerto Rico driver’s license.

Nice To Haves

Graduate degree, such as an MBA, MS in Finance, or advanced STEM degree; equivalent venture capital or fund management experience may substitute for this preferred graduate degree.
Experience managing capital from government or public-private programs, such as SSBCI, SBIC, or state-sponsored venture funds, including related compliance and reporting.
Experience with New Markets Tax Credits, research and development tax credits, Puerto Rico Incentives Code (Act 60) programs, or other structured-finance transactions.
Experience with fair-value valuation frameworks, such as IPEV Guidelines or ASC 820, and fund audits.
Established relationships across United States, Latin American, and Puerto Rican diaspora investor communities.
Familiarity with deep tech, hardware, life sciences, or climate technology sectors.
Professional designation such as CFA or CAIA, or relevant securities licenses.

Responsibilities

Execute VCAP investment strategy, including capital deployment pacing, reserve planning, and fund-level performance.
Lead investments end to end, including sourcing, due diligence, financial modeling and valuation, term negotiation, investment memoranda, and closing documentation in coordination with legal counsel.
Prepare and present investment recommendations to the Investment Committee, and maintain committee materials, minutes, and approvals.
Ensure compliance with program requirements, including SSBCI private-capital matching, conflicts of interest and insider restrictions, eligibility, use of proceeds, reporting, and match documentation for syndicated transactions.
Oversee the Trust’s entire investment portfolio, including Parallel18 Ventures, Parallel18 funds, VCAP, and other equity, debt, fund, and program investments, covering portfolio health, data integrity, risk, and performance.
Build and maintain a consolidated investment register and reporting system, including capitalization tables, instrument terms, conversion events, reserves, and key dates.
Lead periodic portfolio reviews and fair-value assessments, and recommend follow-on, exit, and write-off decisions with the finance team and external auditors.
Lead investment-related work for the Trust’s annual audit and fund audits, including valuation support, confirmations, and audit schedules.
Oversee portfolio company reporting, including financial statements, capitalization tables, operating KPIs, and economic impact metrics.
Execute follow-on, pro rata, conversion, consent, and exit transactions in coordination with legal counsel.
Lead structured financings, including NMTC transactions and similar blended-capital initiatives, through closing, covering modeling, sources-and-uses analyses, and negotiations with counterparties and counsel.
Manage post-closing compliance for NMTC and other tax-credit transactions, including covenant monitoring, investor and CDE reporting, community impact reporting, and exit or unwind planning.
Manage federal and Puerto Rico research and development tax credits, Act 60 programs, and similar incentives for Trust projects and portfolio companies, including eligibility analysis, applications, monetization, and coordination with tax advisors and government agencies.
Structure, close, and manage compliance for tax-credit and structured-finance components of capital sourced by the Capital Formation & Investor Relations Senior Manager and other Trust initiatives.
Present portfolio performance and investment matters to the Executive Director and Investment Committee, and provide portfolio data for investor reporting prepared by the Capital Formation & Investor Relations Senior Manager.
Supervise and develop analysts, associates, fellows, or interns, as assigned.
Perform other duties as assigned by the Executive Director.