Principal, Life Sciences Venture Capital, Seattle, United States 44 views

Organization: Bill & Melinda Gates Foundation
Country: United States
City: Seattle
Office: Gates Foundation HQ Seattle

Group Summary
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, with $2.5 billion in investments under management, has become a leader in the “impact investing” industry, successfully completing more than 90 investments across a variety of sectors and asset classes.
Leadership & Culture
Our culture shapes our choices about what we do and how we do it. We believe that energized people, working well together, fueled by great leadership in an inclusive environment can do extraordinary things. We expect foundation employees to embody our foundation values-based behaviors for impact of optimism, collaboration, rigor, innovation and inclusion.
Position Summary
The Strategic Investment Fund (SIF) team is seeking a Principal-level professional focused on life sciences investing to further grow the investment portfolio by collaborating with teammates and foundation colleagues in thesis formation, investment execution and management activities. The Principal will also build and maintain excellent relationships within the life sciences ecosystems of early-stage companies, venture capitalists and other investors and strategic companies.
This Principal will spend 50% of their time supporting our Global Health division’s new Biotech Accelerator which conceives, designs and tests novel biotech platforms that enable the foundation’s mission. The Biotech Accelerator will deploy early stage equity investments (<$5mm in size) to prove technology concepts and transition promising technology to private sector companies. Initial technology capabilities that are being explored include harnessing the power of chemo-sensing for ultra-high sensitivity detection of volatiles, programming immune system responses for design of next generation vaccine modalities, and engineering antibodies for oral delivery. This Principal will focus on investments in life sciences, working with program teams in Global Health and Agricultural Development. Investments are made in support of the charitable impact theses of these program strategy teams (PSTs), which employ technical specialists from around the world. Representative past investments include: $4 million seed investment in Affinivax, Inc., a clinical-stage biotechnology company developing next generation vaccines delivering broader protection against infectious diseases, including pneumonia. $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. $55 million Series B preferred equity investment in BioNTech SE, a commercial biotechnology company developing personalized immunotherapies for cancer and mRNA vaccines for infectious disease (IPO September 2019). $10 million Series B preferred equity investment in Enko Chem, Inc., an agricultural biotechnology company applying DNA-encoded libraries to the discovery and development of new crop protection chemicals. $10 million Series E preferred equity investment in Halodoc, a leading Indonesian online-to-offline health delivery platform leveraging mobile technology to improve primary healthcare outcomes: and $20mm Series A/B preferred equity investment in Vir Biotechnology and $50mm PIPE in Vir Biotechnology, a clinical-stage biotechnology company focused on finding innovative solutions to unmet needs in infectious disease. Investments from the fund are structured as “program-related investments,” which is a defined term in the US Internal Revenue Code that governs charitable investments made by a private foundation. Core Responsibilities Work closely with foundation PSTs and Biotech Accelerator to understand their strategies and partner with technical colleagues to form investment theses and source potential investments through active outreach and relationship-building within the entrepreneurial and investment communities. Lead deal teams that include program technical specialists, legal and investment colleagues to execute new investments, including helping to form the investment thesis, performing initial evaluation, participating in shaping conversations with company and co-investors, determining investment structuring, owning the due diligence process and financial modeling, and negotiating definitive legal documentation. Present investments to the foundation's SIF Investment Committee and Biotech Accelerator Investment Committee. Lead all aspects of SIF portfolio investments, including as a board of directors’ observer, and facilitate interactions between portfolio companies, and foundation program teams and Investment Committee with regards to strategic, financial, and legal opportunities/issues. Build and maintain excellent relationships with life sciences ecosystem members including early-stage companies, venture capitalists and other investors, and strategic companies. Ensure high-quality interactions and provide clear and consistent communications with internal and external partners. Core Knowledge & Skills We anticipate that the successful candidate will have strong financial transaction experience with a leading venture capital firm, growth/private equity firm, investment bank or corporate business development team where you were active in deal sourcing, execution, and portfolio engagement. Additionally, they will bring experience in vetting therapeutic programs, understanding critical pre-clinical and clinical data, key risks, key proof-of-concept milestones to unlock future funding and market sizing/strategy. Finally, they will have an interest in principal investments and a belief in the foundation’s mission to drive innovative social impact. Education & Experience MBA and/or advanced degree and a minimum of 5+ years of experience, or equivalent experience. *Applicants for this role will only be considered if they are able to legally work in the country where this position is located without visa sponsorship. #LI-TO1 Hiring Requirements As part of our standard hiring process for new employees, employment will be contingent upon successful completion of a background check. Depending upon your work location, we may require proof of full vaccination against COVID-19 and any recommended booster doses. All employees based in the United States are to provide proof of full vaccination upon hire and any recommended boosters, subject to applicable laws. Accommodations If you require assistance due to a disability in the application or recruitment process, please submit a request to hr@gatesfoundation.org. Inclusion Statement We are dedicated to the belief that all lives have equal value. We’re committed to creating a workplace where employees thrive both personally and professionally. We also believe our employees should reflect the rich diversity of the global populations we aim to serve—in race, gender, age, cultures and beliefs—and we support this diversity through all of our employment practices. All applicants and employees who are drawn to serve our mission will enjoy equality of opportunity and fair treatment without regard to race, color, age, religion, pregnancy, sex, sexual orientation, disability, gender identity, gender expression, national origin, genetic information, veteran status, marital status, and prior protected activity.