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Description:

VENTURES ASSOCIATE

Position Specification

Position: Venture Associate

Organization: Red Cedar Ventures, wholly owned subsidiary of the MSU Research Foundation

Location: Detroit, Michigan

Reporting Relationship: Director, Venture Investments

About the Organization

The Michigan State University Research Foundation (MSU Research Foundation) is a non-profit research foundation affiliated with Michigan State University (MSU). Founded in 1973, the Foundation was chartered to promote, encourage, and aid scientific investigation and research at the university; assist with patent matters; and perform trust functions for the university’s fundraising organization.

The MSU Research Foundation manages an endowment built through decades of technology licensing and innovation. In addition to providing more than $10 million annually in research funding to MSU, the Foundation supports technology commercialization, venture creation, entrepreneurial development, early-stage investing, and placemaking initiatives that strengthen Michigan’s innovation economy. Michigan State University is among the top 100 research institutions in the world, with annual research expenditures exceeding $930 million.

Through its subsidiary organizations and real estate assets, including Spartan Innovations, Red Cedar Ventures, Michigan Rise, the University Health Park, the Foundation helps transform university research and emerging technologies into economic impact throughout Michigan.

Role Brief

The Venture Associate plays a key role in the organization and broader venture ecosystem by supporting the full venture investment lifecycle and serving as a strategic resource for early-stage healthcare companies. In alignment with the MSU Research Foundation's growth strategy in healthcare and life science investing, the Venture Associate supports investment activities across the Foundation's venture funds, including Red Cedar Ventures, Michigan Rise, and the Henry Ford Health + MSU Innovation Fund. Responsibilities include identifying high-potential startups, evaluating commercial viability, conducting scientific, technical, business, and legal due diligence, and presenting investment opportunities to management. This work supports investment decisions involving innovative early-stage healthcare companies with strong growth potential. Beyond investment activities, the Venture Associate provides portfolio support, contributes to startup sourcing efforts, and supports other strategic initiatives across the MSU Research Foundation.

Key Responsibilities:

• Scientific and Technical Review: Analyze materials both provided by startups in the investment pipeline and procured through independent research and due diligence. Examples include pitch decks, scientific and clinical literature, pre-clinical and clinical data, market reports, patents, etc. 
• Diligence Conversations with Founders, Investors, and Subject Matter Experts: Meeting with Founders to evaluate investment opportunities and perform technical, financial, market, etc. due diligence is a key aspect of the role. Responsible for sourcing and facilitating meetings with upstream and downstream investors and subject matter experts including researchers and clinicians to complete due diligence. 
• Presentation of Investment Opportunities: Prepare written assessments of investment opportunities and present them on a weekly basis to the healthcare investment team. For opportunities that advance to later stages of due diligence, prepare an investment decision thesis which will be presented to the broader investment team and Executive Director of Ventures.
• Management of Investment Pipeline: From initial screening through investment, manage an investment pipeline through our technology platform. Document progress of due diligence items and proactively manage next steps to ensure timely investment decisions are made.
• Sourcing: Manage pipeline of inbound leads from entrepreneurs, other MSU Research Foundation subsidiaries and ecosystem partners and generate outbound opportunities through industry research, conferences, and networking. 
• Portfolio Management: Assist with regularly scheduled portfolio company update meetings, gathering key performance metrics from these companies, and tracking this data in our technology platform. Provide support to portfolio companies on specific projects when needed. Drive value to our portfolio companies by working with their management teams to unlock access to capital, customers, talent, and strategic insights.

Requirements:

Required Knowledge, Skills, and Abilities

• Ability to distill complex scientific and clinical concepts and data into actionable information. 
• Knowledge of the medical device/diagnostics and therapeutics product development process. 
• Knowledge of FDA regulations, reimbursement and healthcare economics, clinical workflows, and health system operations. 
• Ability to review, understand, and summarize peer-reviewed scientific and clinical literature. 
• Scientific and clinical acumen sufficient for being able to quickly understand disease processes, standard of care treatments, analyze pre-clinical and clinical data, and competitive landscapes. 
• Ability to quickly learn key metrics and market drivers for diverse industry segments within healthcare. 
• Exceptional written communication skills, with emphasis on analytical and technical writing. 
• Ability to work independently and with confidence to take initiative and be proactive. 
• Sound judgment and discretion when handling confidential and sensitive data. 
• Interest in quickly researching a variety of industries and interfacing with subject matter experts to assess investment opportunities. 
• Strong sense of urgency and self-motivation, with the ability to multitask and prioritize work to meet critical deadlines. 
• Basic understanding of venture capital and investment instruments. 
• Proficiency in analyzing financial statements. 

Experience and Education

• Advanced Degree in life science or healthcare-related field required. PhD preferred. 
• Minimum of one year of experience in an operational role at a life science or healthcare-related start-up or mid-sized company; or experience in a clinic-adjacent role or within an innovation/venture function in a healthcare setting. 
• One year of early-stage startup or investing experience or venture investing education such as “VC University” or equivalent. 

Join the MSU Research Foundation, where you can work for a dynamic organization and make an impact – shaping the future of research, economic growth, and innovative healthcare!