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We provide world changing early stage startups with the tools, skills, and mentorship necessary to successfully raise, build, and scale their businesses to eventual acquisition.
We've helped fund over $100M into companies and are looking for founder oriented team members who are in it for the long-haul to truly help startups while also driving fund returns.
Our Venture Partner Fellowship is a part-time general partner in training role that will empower and equip you to contribute to the fund in a significant way remotely and while working full-time elsewhere or attending a masters or PhD/MD degree program. As a Venture Partner, you will be responsible for assisting in the following activities: Fundraising (Portfolio and Fund), Partner and Co-Investor Development, Startup Coaching & Mentoring (Accelerator), and Deal-Flow Sourcing.
You role long-term will be focused on recruiting companies into the accelerator and fund, startup founder development and coaching, leading and managing investments, and establishing a strong culture and vision for our portfolio companies. The area of responsibility for this role is wide and requires thorough knowledge of various startup processes, industries, markets, fields, and skill-sets from both a strategic and execution standpoint- the ideal candidate is a previous Founder/CEO.
You must at a core be an excellent leader who can recruit, coach, and build other leaders. You will work with founders and their teams to develop processes, and externally with investment partners to help founders grow and close their rounds. To be successful in this role, you should have extensive experience in senior leadership roles and/or as a founder yourself, because ultimately, you will find and build great startups, invest in them, and help lead them to acquisition post-investment.
Over time, your success will be measured by 4 key metrics in this order:
1. Your ability to assist in fundraising capital to deploy in the fund.
2. Your ability to bring on additional partners and co-investors.
3. Your ability to coach, train, and mentor startups to success.
4. Your ability to recruit and source deal-flow from your network.
You will be required to be an excellent manager, team builder, teacher, recruiter, communicator, fire-fighter, and issue resolver as your work will contribute to building a foundation for startup success in our portfolio for years to come. This Fellowship is a 1-2 year fellowship program with the goal of full-time hire at our fund or another fund after completion.
Accelerator & Fund Compensation
Cohorts launch every month with up to 50+ companies per cohort and they last between 3 to 6 months.
The program is largely module and assignment based with biweekly meetings (2x per month):
-1 hour masterminds (group coaching session for up to 8-10~ companies); and,
-1 mentor session (30 minute 1-1 coaching sessions).
As a venture partner you will be assigned up to 2 masterminds (up to 20 startups), which equates to a part-time role of 10 hours per week (40~ hour total per month) on average in expectations for coaching and mentoring in the accelerator.
1. Base Stipend- For this work, Newchip will initially pay you a stipend of 15% commission per month that you are actively managing a cohort. For example if you mentor 20 startups over 12 months that would equal $26,994~.
2. Deal-flow / Startup Sourcing- You will receive a 5% referral fee for any companies you independently source into the accelerator. For example if you referred 100 companies, that would equal a $25,000* bonus.
3. Fund Carry - For every $1,000,000 you raise in funding commitments from LPs (high net-worth individuals, family offices, other funds, etc), you will be eligible to receive 0.5% of the carry (2.5% of total) for the life of Journey I Fund.
4. Investment Bonus - You will be eligible to receive a $5,000 bonus for every company that you source that the fund invest in. For example if you independently source 5 investments, that would equal a $25,000* bonus.
5. Yearly Bonus - Depending on your results from year one, you may be eligible for additional carry and compensation as well as potential for a full-time role longterm for the life of the fund for 7-10 years.
*Performance and goal based bonuses are separate from the stipend for coaching and mentoring in the accelerator.
Culture Fit Requirements:
1. A compelling hunger and passion to achieve something great in life and change the world - remember that experience can be gained over time but your passion and drive are what will lead to success via sheer mental fortitude.
2. Willing to do whatever it takes to get the job done, are humble and have a trainable mentality, and able to learn on the job - we're looking for partners that can not only operate in the chaos of a startup, but thrive in it and earn a place on our team.
3. Hyper-organized, resourceful, and truly enjoys working in a team to achieve the vision- able to proactively reach out for guidance, offer and receive guidance from your fellow team members, and solve roadblocks on your own.
Part-Time & Remote Work:
You may work out of our offices in Austin, TX, however we are preferentially looking for this role as a remote role to increase our access additional markets. Your initial title will be Venture Partner at both the fund and accelerator. As a contractor of the companies, you will be responsible for your own medical benefits, taxes, office, and other expenses, unless deemed expense-able otherwise or approved for full-time. There is the opportunity for a full time role for top performers after 12 months.
Limited Partner Requirements:
This role requires a minimum investment stake in the fund, with a minimum investment up front, and the remaining as part of a capital call structure as delineated in the PPM and LP agreement over 3 years.
Note that this LP investment is separate from any role or responsibility and is simply skin in the game alongside our full-time General Partners and part-time Venture Partners that have all invested in the partnership.
Posted date: 7 days ago