ERDF CAP Investment Associate – The Accelerator Network
Capital Enterprise has won a bid from the Greater London Authority (GLA) to work on a project called CAP (Capital Accelerator Programme). CAP aims to provide additional new resources, expertise and know-how to both expand and enhance the provision of business support available in London to potential scalable and investable businesses in the Digital, Science and Technology sectors.
Starting in September 2013 and running until June 2015 this programme aims to help 541 London based SMEs with high growth potential to receive intensive advice and practical support that will enable at least 160 of them to raise collectively over £8m of investment funding from business angels and early stage venture capitalist and thereby enable these SME’s to create a minimum 234 new jobs in London.
To deliver a programme of interventions and activities the CAP has assembled a partnership comprising of the leading players in London that support early stage entrepreneurs in the Digital, Science and Technology sectors.
Investment Associate
BACKGROUND
The Accelerator Network is an end-to-end support programme for the UK’s highest growth tech startups. It is funded by White Horse Capital LLP, a technology, media and telecoms investment and corporate finance boutique established in 2008, and led by Ian Merricks, Keith Marriott, and chaired by Christopher Weston.
The Accelerator Network encompasses existing startup support programmes, such as one of the UK and Europe’s leading accelerators; the Accelerator Academy (www.AcceleratorAcademy.com), which has supported 84 companies within the last 3 years, helping its alumni secure over £13m of seed funding, and generate a combined “portfolio” post-money valuation of £100m+. White Horse Capital owns options of 1.5-2.5% of these companies. The programme is widely recognised as one of the leading accelerators, due to the onward success and growth trajectory of its alumni.
Also within the Accelerator Network is a joint venture with City University London, Fast Forward, (www.FFWDLondon.com), the pre-accelerator initiative supported by 16 leading accelerators and co-funded by the EU, to support higher numbers of tech startups at the start of their journey with input from the chartered institutes (Marketing, Finance, Tech, providing professional coaching to early stage entrepreneurs.
The Accelerator Network also takes in a range of activities in the wider startup support ecosystem, and its management are active in creating more support mechanisms, principally but not exclusively based around investment and funding support. This includes a proposed post-accelerator investment fund, and a professionalised seed stage broking business unit, to ensure startups secure strategic funding in an efficient manner.
The Accelerator Network owns a stake in Startup Funding Club, a SEIS investment vehicle, and works closely with the UKTI supporting international startups relocating to the UK.
PURPOSE & DUTIES OF THE ROLE:
This Investment Associate role has been created to add commercial value across this range of early stage investment activities. As a brief overview specifically this includes:
- Pre-Accelerator Stage (Supporting earliest stage, high growth potential companies, seeking first funding up to £150k). 6 week programme, launched as a partnership with City University and the EU.
- Building strong relationships with funding providers (both equity, such as SEIS funds, and non-equity such as grant providers [InnovateUK / Technology Strategy Board] and debt providers including Startup Loans Company)
- Assist startups to close first funding
- Accelerator Academy (Supporting companies with some commercial traction, preparing for a professional seed round of £150-500k)
- Support for companies engaged in the Accelerator Academy programme, and ongoing relationship management with alumni
- Assessment and selection of companies requiring equity fundraising support for the Post Accelerator Stage.
- Post Accelerator Stage
- Help to build our seed stage broking business unit
- Working with accelerated tech startups to ensure investor readiness and facilitating introductions to appropriate investors on a commercial (albeit contingent) basis.
- Piloted with Accelerator Academy, with a view to rolling out on commercial terms (commission share based) to partner accelerators, to increase deal flow and shared assessment of startup prospects
MEASURES OF SUCCESS
- Commercial proactive role, confident and knowledgeable with investors in the early stage tech space, and with an ability to secure long standing relationships with 100 high growth potential tech & digital media startups pa.
- Well connected in the London investment scene, and with the ability to hold their own at a senior level with private and institutional investors
- Great attention to detail, ensuring investment opportunities are thoroughly researched and manually matched to value adding investors, in a timely manner
REPORTING STRUCTURE
The Investment Associate will report into the Accelerator Network business manager, Katie Lewis, and the Chairman, Ian Merricks.
REMUNERATION
- Gross Salary, basic £30k pa
- Expected commission £10.5k pa
- OTE: c£40.5k pa
COMMERCIAL GOALS AND COMMISSION STRUCTURE
- Pre-Accelerator
- Aim to secure £600k of funding pa (4 deals)
- Average £150k raise
- 5% commission on this
- OTE: £3k
- Accelerator Academy
- Aim to secure £1m of funding pa (4 deals)
- Average £250k raise
- 5% commission on this
- OTE: £5k pa
- Post Accelerator Support
- Aim to secure £500k of funding pa (1 deal)
- Average £500k raise
- 5% commission on this
- OTE: £2.5k
Commissions are open ended, and opportunities exist to get involved with The Accelerator Network’s other activities, likely to generate additional earning potential.
| Base | 30000 |
| Pre-Accelerator | 3000 |
| Accelerator Academy | 5000 |
| Post Accelerator | 2500 |
| OTE | 40050 |
To apply for the vacancy please click on the ‘Application form’ link below complete and return back to Carly Lloyd: carly@capitalenterprise.org
For further information please contact Carly Lloyd on 020 7679 4598
The closing date for applications is 11th February 2015
