- $2.0 billion strategic investment fund seeks Principal with buy-side experience and belief in the mission of helping all people lead healthy, productive lives.
- Location – Seattle
- Please apply by sending your resume to email@example.com by March 15, 2018.
In 2009, the Bill & Melinda Gates Foundation established a strategic investment fund with the mandate to use equity, debt and guarantee investment tools to further the philanthropic goals of the organization. The fund has become a leader in the “impact investing” industry successfully completing more than 60 investments across a variety of sectors and asset classes. The 10-person investment team is seeking a Principal-level individual to further grow the investment portfolio by leading thesis formation, deal origination, investment execution and investment management activities.
The individual will be a generalist, working across a number of the foundation’s strategic priority areas which include programs in global health, global development and US education. Investments are made in support of the charitable impact theses of the strategy teams which employ technical experts from around the world.
It is expected that the Principal will focus on the following responsibilities:
- Working closely with two or three program teams to deeply understand their strategies and partner with technical colleagues to form investment theses and source potential investments through active outreach and relationship-building with the entrepreneurial and investment communities;
- Oversee 4-5 person deal teams that include colleagues from the program technical, legal and investment fund teams to evaluate opportunities, shape opportunities with companies and co-investors, determine appropriate investment structure, conduct due diligence and financial analysis;
- Present investments to the Foundation’s Investment Committee;
- Lead transaction negotiations and oversee legal documentation;
- Manage portfolio investments through frequent interaction with company leadership (management, board, investors) and represent the Foundation as an observer to the board, ensuring progress against programmatic and financial benchmarks;
- Ensure high-quality interactions and provide clear and consistent communications with internal and external stakeholders; and
- Selectively represent and speak on behalf of the Foundation at relevant events and conferences.
We anticipate that the successful candidate will have strong financial transaction experience with a leading investment bank or corporate business development team and a deep interest in principal investing and belief in the foundation’s mission to drive innovative social impact. Candidates with experience at a venture capital, growth equity or leveraged buy-out fund where they were active in deal sourcing, execution and portfolio engagement are particularly encouraged to apply. Minimum five-years of applicable career and/or graduate school experience is required.
Bill & Melinda Gates Foundation
Guided by the belief that every life has equal value, the Bill & Melinda Gates Foundation works to help all people lead healthy, productive lives. In developing countries, it focuses on improving people’s health and giving them the chance to lift themselves out of hunger and extreme poverty. In the United States, it seeks to ensure that all people - especially those with the fewest resources - have access to the opportunities they need to succeed in school and life. The Foundation supports partners in all 50 U.S. states and more than 100 countries. With an endowment of $40 billion and total grant payments of over $41 billion, including $4.6 billion in 2016, the Gates Foundation is the world’s largest private foundation. The Foundation operates through five program divisions: Global Development, Global Health, Global Growth & Opportunity, Global Policy & Advocacy and the United States Programs.
Representative past investments from the fund, include:
- $5 million investment in the publicly-traded equity of Anacor Pharmaceuticals, Inc., a biotechnology company with a novel boron-chemistry drug development platform that was acquired by Pfizer Inc. in June 2016;
- $120 million volume guarantee to Bayer AG and Merck & Co. Inc., which ensured a market for the companies’ implantable contraceptive products in exchange for a commitment by the drug manufacturers to increase their production and lower their prices in the developing world;
- $11 million Series A preferred equity investment in bKash, Ltd., the largest mobile payments platform in Bangladesh (and, by some measures, the world) serving more than 20 million customers and transacting currency volumes representing more than 10% of Bangladesh’s GDP;
- $10 million senior secured loan to Civic Builders, a non-profit charter school facilities developer, to support expansion of its operations from New York/New Jersey to Rhode Island;
- $52 million Series B preferred equity investment in CureVac GmbH, a leading mRNA biotechnology company developing vaccines against cancer and infectious disease;
- $140 million investment in Intarcia Therapeutics, a leading biotech company with cutting-edge implantable drug delivery technology that promises to change the management of chronic diseases like diabetes and HIV;
- Volume guarantee to Mylan Laboratories and Aurobindo Pharma to support introduction of dolutegravir, a leading antiretroviral drug used in the US and Europe, into the developing world at an affordable price to facilitate adoption of this clinically superior treatment; and
- $20mm Series A/B preferred equity investment in Vir Biotechnology, a biotechnology company taking a multi-platform, multi-program approach to transforming the care of people with serious infectious diseases worldwide.