About the Job
The Role. AV Ventures seeks an experienced Fund Management Advisor interested in guiding the launch and growth of its locally-managed Central Asia fund. Specifically, the Fund Management Advisor will serve as an advisor to the new joint venture in establishing its pipeline, investment policies and procedures, relationships with firms and vendors to support due diligence, operational procedures, transaction execution, portfolio management, local brand, and strategic management; and will overall help shape the beginning stages of the new fund so that it is well placed for strong management, growth, and generating social and economic impacts within the region.
Overall, we envision the Fund Management Advisor’s work to be roughly divided into two equal phases: Phase 1, an implementation phase, during which the emphasis of work will be on section 1.A below; and Phase 2, a mentoring phase, during which the focus of work will shift more heavily to section 1.B below.
(1) The Fund Management Advisor will serve as an advisor to the local joint-venture management team to:
A. Identify, evaluate, execute, and manage investments (at least 60% of work in Phase 1), specifically:
- Marketing the fund within Kyrgyzstan to meet with potential investee company representatives and generate a pipeline of investment opportunities.
- Conducting in-depth analysis of potential opportunities, including market analysis, financial modeling, and assessing projected social and economic impact.
- Overseeing full due diligence on possible investments, including analysis of business plans, financial viability, commitment to social performance, management, taxes, legal, and risk.
- Participating on the investment committee making investment decisions.
- Supporting transaction structuring and negotiations toward optimal outcomes.
- Supporting ideation of innovative financial structures that would be tailored to each client and prep pitch decks to investment committees.
B. Provide strategic advisory and mentorship to management team (at least 60% of work in Phase 2), specifically:
- Serving as a sounding board on future fundraising, marketing, new ideas, improving operations, staff and talent development, and growth strategies.
- Overseeing talent formation, capacity building and training of local staff.
- Supporting fundraising proposals to relevant social investors and/or donors.
- Guiding thinking and decision-making toward optimal outcomes.
- Sharing past experience to demonstrate successes, best practices, and failures to avoid in fund management and portfolio management.
C. Establish operational policies and procedures (estimated 10-20% of time), specifically:
- Drafting and establishing investment policies and procedures, term sheets, investment agreements, and other related documents aligned with applicable local laws and norms.
- Establishing internal processes and procedures for accounting, procurement, internal controls, and salary & performance payments aligned with applicable local laws and norms.
- Coordinating with local legal counsel on issues related to effective investing, portfolio management, and operations in Kyrgyzstan.
(2) The Fund Management Advisor will also (estimated 10-20% of time):
- Regularly update the DC-based AV Ventures team on progress through regular calls, reports, and updates.
- Coordinate work as applicable with DC-based team members during DC-Bishkek visits over the duration of the contract.
Targets and Outcomes. By the end of the Advisor’s tenure, our vision of success and the status of AV Ventures in Central Asia is that it is/has:
- Fully established local team and operations
- Minimum of 4 investments executed
- Demonstrable progress toward new fundraising
- Local team capable and confident in fully taking on fund management
Who you are. We are looking for someone who is/has:
- Excited at the opportunity to dive in, launch and significantly coach the growth of a new impact-oriented investment fund in a growing investment ecosystem in Central Asia.
- Minimum of 10 years of experience actively managing or overseeing investments at a private equity, venture capital, alternative investment, and/or impact-oriented investment fund, with at least 3 years’ experience in a senior management or high-level decision-making role.
- MBA or Master’s degree in business, finance, or related field.
- Successful track record in identifying, evaluating, and closing investment transactions.
- Extensive experience with either executing or consulting on writing and pitching investment memos, conducting due diligence, deal negotiations, deal structuring, and financial modeling.
- Excited and willing to live in Bishkek, Kyrgyzstan, with occasional travel throughout the country and region to meet with pipeline companies and other stakeholders.
- Demonstrated understanding of the constraints emerging markets face in identifying and executing alternative (non-traditional debt) investments.
- Fluency in English with strong and effective oral communications skills.
Preferably, candidates will also have:
- Russian language skills.
- Experience living and working in emerging or frontier markets; experience in Russian-speaking countries a major plus.
- Successful track record in identifying, evaluating, and closing transactions specifically in emerging or frontier markets.
- Experience working or investing in the agribusiness sector.
Other details. The contract for this position is anticipated to be for 12 months, with a 6-month option period depending on progress, interest, and resources. Candidate is expected to work full-time upon commencement of the contract, and will be paid based on daily rates. AV Ventures will also cover costs of travel, visas, housing, and additional baggage to/from Bishkek.
Interested? Please send your 1-2 page resume and 1-page statement of interest to us at firstname.lastname@example.org. Candidates may be asked to provide references after initial application review. Applications will be accepted and reviewed on a rolling basis until a suitable candidate is identified, with an ideal contract start by June 2019.
AV Ventures LLC
Who we are. AV Ventures, LLC is a mission-driven investment manager based in Washington, DC that works to cultivate inclusive growth by managing socially-driven investments in agribusinesses in emerging markets. AV Ventures is a subsidiary of ACDI/VOCA, an international development nonprofit organization based in Washington, DC with offices in 30+ countries and 1200+ staff that fosters broad-based economic growth, particularly through catalyzing investment and market systems development in agriculture and food supply chains in emerging markets.
Since 2016, AV Ventures has invested patient capital in growing SMEs in West Africa to promote markets in which business owners, smallholder farmers, and communities are empowered to succeed in the global economy. Our existing investment vehicle in Ghana focuses on SMEs that show significant potential for growth and impact, particularly for small-scale farmers.
In 2019, AV Ventures plans to launch its second fund in Central Asia through a joint venture with Frontiers LLC, an experienced local financial services firm based in Bishkek, Kyrgyzstan. Initial capital has been raised to invest in growth-stage Kyrgyz and Kazakh-based SMEs.