Venture Associate, Mass General Brigham Innovation

About Us

As a not-for-profit organization, Mass General Brigham is committed to supporting patient care, research, teaching, and service to the community by leading innovation across our system. Founded by Brigham and Women’s Hospital and Massachusetts General Hospital, Mass General Brigham supports a complete continuum of care including community and specialty hospitals, a managed care organization, a physician network, community health centers, home care and other health-related entities. Several of our hospitals are teaching affiliates of Harvard Medical School, and our system is a national leader in biomedical research.

We’re focused on a people-first culture for our system’s patients and our professional family. That’s why we provide our employees with more ways to achieve their potential. Mass General Brigham is committed to aligning our employees’ personal aspirations with projects that match their capabilities and creating a culture that empowers our managers to become trusted mentors. We support each member of our team to own their personal development—and we recognize success at every step.

Our employees use the Mass General Brigham values to govern decisions, actions and behaviors. These values guide how we get our work done: Patients, Affordability, Accountability & Service Commitment, Decisiveness, Innovation & Thoughtful Risk; and how we treat each other: Diversity & Inclusion, Integrity & Respect, Learning, Continuous Improvement & Personal Growth, Teamwork & Collaboration.

General Overview

Innovation is a 140 person Mass General Brigham business development unit responsible for the worldwide commercial application of the breakthroughs and unique capabilities of the System’s 80,000 employees and faculty. It drives revenue generation and patient benefit through industry collaborations, investing, company creation, licensing, and innovation management for the System’s Harvard Medical School appointed faculty and hospitals including its core Harvard affiliates - Brigham and Women’s Hospital, Massachusetts General Hospital, Massachusetts Eye and Ear and McLean Hospital.

Within the Innovation organization, the AI and Digital Innovation Fund invests in healthcare companies based on AI and digital technologies that have a strong stakeholder validation within the Mass General Brigham health system. We seek strong co-investor syndicates to help build companies addressing needs in Value Based Care, patient access and navigation to care, enabling or improving new revenue streams, and operations. AIDIF works closely with the digital health business development team and invests out of a $30M funding commitment from the Mass General Brigham health system.

Principal Duties and Responsibilities

Venture Operations

• Support for Board of Managers and Investment Committee reporting and interactions
• Assist with presentations for VC meetings, Investment Committee and Board of Managers
• Analyze, record and report on portfolio investment performance

Investment Analysis

• Conduct industry, market and company research as part of the investment team
• Develop investment theses for areas of strategic interest to MGB and identify potential investment prospects
• Track competitive developments for portfolio companies and current valuation multiples to inform follow-on investment decisions
• Portfolio management and deal execution support, including waterfall and overall portfolio return analysis and portfolio company milestone tracking
• Quantitative due diligence, including development and maintenance of business models, financial models, financial modeling including valuation analyses.
• Qualitative due diligence, including assessing the competitive landscape, analyzing investment prospects’ business plan assumption and evaluating industry trends
• Identify key technical diligence questions and work with AIDIF team to access internal experts or if needed identify appropriate external expertise to resolve technical diligence issues
• Assist with preparing materials for communications strategy and quarterly update report; work with business development resources to keep pipeline database up to date.
• Participate in the process of technology analysis, market analysis, business planning, and specific diligence around issues including regulatory and reimbursement requirements.
• Identify and develop potential strategic partners and co-investors for portfolio companies

Qualifications

• Masters with digital health, SaaS-based industry and investment analysis background
• Minimum 2 years’ experience in relevant AI or digital healthcare sector: operating, consulting or VC
• Knowledge of healthcare SaaS based product development, reimbursement and regulatory processes
• Proven ability to successfully function in a large organization and to work as a team member in a multi-functional operating unit.

Skills, Abilities and Competencies

• Team-oriented and works collaboratively and effectively with others
• Strong interpersonal and client services skills
• Excellent oral and written communication skills
• Willingness and ability to handle confidential matters with utmost discretion
• Top-notch PowerPoint capabilities and spreadsheet modeling capability, knowledge of capital structuring
• Excellent project management skills and attention to detail
• Ability to relate well to senior leadership and faculty
• Strong appreciation for the Mass General Brigham value system of academics and care delivery
• Ability to function effectively and independently in a fast-paced environment, organizing and prioritizing efforts and meeting tight deadlines.

Mass General Brigham is an Equal Opportunity Employer & by embracing diverse skills, perspectives and ideas, we choose to lead. All qualified applicants will receive consideration for employment without regard to race, color, religious creed, national origin, sex, age, gender identity, disability, sexual orientation, military service, genetic information, and/or other status protected under law.