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.
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.
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.
- 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.
- 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.