Portfolio Manager

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The Impact Investing Program of The Schmidt Family Foundation is looking for a highly motivated Portfolio Manager to be part of a small, mighty team in alignment with the goals and ethos of the Foundation’s grant making.

ABOUT THE FOUNDATION

Established in 2006 by Wendy and Eric Schmidt, the Schmidt Family Foundation works to restore a balanced relationship between people and planet through two methods: grantmaking and impact investing. Our ecosystem of entities supports organizations on the frontlines of environmental justice, in communities working to advance clean energy, strengthen regenerative food systems and restore ocean health. We combine an interdisciplinary approach with a healthy appetite for discovery and exploration to make purposeful, measurable progress toward a sustainable future. The Schmidt Family Foundation is a private foundation with $2B+ growing assets and an impact investment portfolio of approximately $160M of AUM.

For more information about the Schmidt Family Foundation, visit: www.tsffoundation.org.

ABOUT THE POSITION

Our investment program seeks to make impact-first investments that achieve similar impact goals as the Foundation’s grant-making programs, which include sustainable agriculture, energy, human rights, and marine conservation. The Portfolio Manager (“PM”) will join a dynamic team of collaborative investment professionals who move the work forward with passion and genuine commitment to and passion for the values of the Foundation. Additionally, they will be results-oriented, have a demonstrated ability to work individually and on a team, and be able to adapt as responsibilities and the program evolve.

This position will report to the Managing Director of Impact Investing.

ESSENTIAL DUTIES AND RESPONSIBILITIES

• Develop, execute, and continually refine strategy for building a portfolio of investments in the area of Materials. This includes alternatives to single-use plastics, circular economy (ie: reuse/refill models), and textile innovations. PM may also execute on one of the other strategy areas of the Foundation as needed.
• Source, review and evaluate potential investment opportunities performing due diligence including impact and financial risk assessment, industry analysis, competitive landscape assessment, product-market fit, go-to-market validation, and financial modeling. Manage the process from origination to post-investment support and monitoring.
• Manage Materials portfolio cash flows, risk-adjusted financial returns, and financial reporting to internal stakeholders and external auditors.
• Bring a network of strong relationships within the materials, packaging, and textiles fields, and continue to develop additional relationships with external experts and build the Foundation’s presence in the field.
• Craft creative capital solutions and negotiate terms in order to meet the needs of founders, considering the Foundation’s impact-first capital preservation goals.
• Recommend investments to the Investment Committee in collaboration with the Managing Director of Impact Investing.
• Author investment memos and related diligence documents informed by comprehensive, in-depth company and industry research as well as portfolio benchmarking analysis. Work with the Investment Analyst and soon-to-be hired Investment Associate on these activities.
• Contribute to the continual assessment and evaluation of portfolio management, inclusive of reporting and forecasting to ensure the portfolio is grounded in a focus on impact and that staff, management, and board are informed.
• Collaborate with grantmaking program team(s) to develop strategies and ensure high programmatic alignment, and establish strong relationships with operational support teams (Legal, Finance, Operations).
• Provide post-investment support to portfolio companies including serving as Board observer or Board representative, as applicable.
• Assist the Managing Director with special projects and new initiatives for the Impact Investing program, which could include investments in other issues areas, or help with making short-term investments.

DESIRED KNOWLEDGE & EXPERIENCE

• 10+ years of experience in direct investing or working with or for early-stage companies, in a variety of public, private, or nonprofit settings such as venture capital, private equity, investment banking, social enterprise, community banks, impact investing, mission-driven investing, or family office experience
• Experience in investing for impact and not just financial returns
• Demonstrated expertise in alternatives to plastics / advanced materials / circular economy / textiles. At least 5 years of experience in a job focused on one or more of these issues.
• Strong financial and analytical skills including demonstrated experience building 3-statement financial models and conducting sensitivity analysis
• Demonstrated leadership supportive of a collaborative team culture
• Excellent analytical, research, organizational, and project management skills
• Strong attention to detail and commitment to consistently providing high-quality deliverables
• Knowledge of due diligence practices and investment performance monitoring
• A commitment to social impact and supporting founders and emerging leaders, especially from underrepresented backgrounds and those building organizations that close gaps of access and/or opportunity for low-income communities and/or communities of color
• Effective verbal and written communications skills
• A positive attitude and ability to develop and maintain strong working relationships with Foundation staff, consultants, borrowers/investees, and constituencies in the impact investing field
• A high degree of honesty and integrity and demonstrated passion for and commitment to the Foundation’s mission in professional and/or volunteer capacities
• A Bachelor’s degree in Finance, Business, Economics or a related field or equivalent experience with strong grounding in finance and investing is required; relevant advanced degree and/or financial certification

$230,000 – $250,000 a year

The Schmidt Family Foundation offers a competitive salary commensurate with experience and an excellent benefits package. The position is based in the San Francisco Bay Area with a hybrid in-office/remote model. The Portfolio Manager is required to spend three days a week in the Foundation’s San Francisco office. The ideal candidate will be already located in the Bay Area.

This is an exempt position.

HOW TO APPLY

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To apply, please provide your resume and a cover letter that expresses both your passion for the mission and fit for the role; as well as references (candidates will be notified in advance of any outreach to your references). Applications will be reviewed on an ongoing basis until the position is filled.  

The Schmidt Family Foundation (TSFF) is an equal opportunity employer and we strive to create an atmosphere where diversity of identity, experience, and background are welcomed, valued, and supported. We believe that diversity brings about greater results on all levels and we aim to use our resources to generate greater impact through our work. Candidates who contribute to this diversity are strongly encouraged to apply.

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