Vacancy Announcement: Investment Manager
AV Ventures, LLC (AVV) is a mission-driven investment management company based in Washington, DC that works to cultivate inclusive growth by managing socially driven investments in agribusinesses in emerging markets.
AV Ventures is a wholly-owned subsidiary of ACDI/VOCA, an international development nonprofit organization based in Washington, D.C, United States that fosters broad-based economic growth, particularly through catalyzing investment and market systems development in agriculture and food supply chains in emerging markets.
The Scaling the Impacts of USAID Resilience Programming through Local Systems project (USAID Kuza) implemented by ACDI/VOCA, has engaged AVV to provide fund management services for the Impact for Northern Kenya Fund (INK Fund).
INK Fund makes wholesale loans to financial institutions (FIs) in Kenya to on-lend to agribusiness micro, small and medium sized enterprises (MSMEs) operating in ten Frontier Counties (Isiolo, Marsabit, Lamu, Garissa, Mandera, Samburu, Wajir, Tana River, West Pokot and Turkana)a.
The loans must generate a positive social, environmental, and economic impact, as well as a financial return. The objective of the project is to provide capital in a region in which SMEs have traditionally lacked access to funds, and in rare cases when it is available, these funds are extremely costly – with the ultimate goal of scaling agribusiness MSMEs and lowering the risk perception of FIs for the region.
The Investment Manager will be an integral member of AV Ventures, leading and managing sourcing, due diligence, portfolio management, and relationships with pipeline FIs based in Kenya. The Investment Manager will report to the Managing Director of AV Ventures, based in Washington, DC, oversee consultants in Kenya, collaborate closely with the AV Ventures team globally, and, work in collaboration with the USAID Kuza team in Kenya to:
- Maintain and grow the INK Fund’s current investment pipeline, originate new investments, conduct financial and risk analysis of pipeline companies, and write investment memos to be presented to the investment committee.
- Oversee full due diligence on possible investments, including analysis of business plans, financial viability, commitment to social performance, management, taxes, legal, risk, and develop models for investment projections.
- Draw up related documents for investments in Kenya, including but not limited to term sheets, investment agreements, policies, and procedures.
- Support and monitor portfolio post-investment and monitor impact per agreements; identify, design, and recommend technical assistance to investees; serve as the lead point of contact in Kenya for investees on repayment.
- Support reporting and data processes for portfolio FIs about financial and social performance reporting per AV Ventures’ Impact Assessment Framework.
- Participate in development of financial structures that would be tailored to each client design and prep pitch decks to investment committees.
- Participate on the AV Ventures Kenya investment committee.
- Develop relationships with potential co-investors and industry partners; grow relationships into co-financing opportunities or additional capital into INK Fund.
- Actively participate in AV Ventures’ international growth strategy development, particularly as it relates to growth on the African continent.
- Work with US- or Kenya-based legal counsel and accounting teams as necessary for operational and administrative workflow.
- Regularly (bi-weekly/weekly) update the DC-based team through calls, reports, and updates.
- Coordinate work with DC-based team members during Kenyan visits over the duration of the contract.
- Oversee AV Ventures staff and/or consultants as may be hired.
- Travel to FCDC Counties from as necessary for evaluation and monitoring visits.
Who are we looking for:
An Investment Manager with the following characteristics:
- Highly entrepreneurial, collaborative, strong leader.
- Minimum of 7 years of total work experience, with at least 5 years in venture capital, private equity, impact investing, finance, and banking, or similar.
- MBA or master’s degree in business or finance.
- Extensive experience with writing and pitching investment memos, conducting due diligence, deal negotiations, deal structuring, and financial modelling.
- Proven experience in identifying, evaluating, and closing transactions and managing multiple projects.
- Willing to live and work in Kenya with travel to rural parts of Northern Kenya to manage investment portfolio and pipeline companies.
- Strong skills report writing, Excel and PowerPoint.
- Fluent in English and Kiswahili.
- Current or recent relevant work in Kenya and particularly ASALs is a major plus.
- Agribusiness experience is an added advantage.
Compensation: AV Ventures offers a competitive compensation package that includes a base salary, performance-based compensation, pension, medical coverage, and other benefits. Applicants may be asked to provide references after initial application review.
Applications will be accepted and reviewed on a rolling basis.
Please submit a resume to HRKenya@acdivoca.org no later than September 30, 2020.
In the subject line, please include the position title. Only those candidates considered for an interview will be contacted.
ACDI/VOCA is an equal opportunity employer.
Women, minorities, and people from diverse groups are encouraged to apply.