Investment Executive, Technology & Telecoms
About the job:
CDC is the UK’s development finance institution. Established in 1948 we invest in the most challenging markets of Africa and Asia with the aim of supporting economic development.
CDC has net assets of £6.4bn and a portfolio of £4.7 billion. In 2019 we committed over £1.66 billion of capital to business in Africa and Asia and are now invested in 1,200 businesses which directly employ over 875,000 workers and support many more.
CDC is a Public Limited Company and is wholly owned on behalf of the UK government by the Foreign, Commonwealth & Development Office (FCDO).
In the last few years, we have expanded our presence in Africa and Asia by opening new offices in Bangladesh, Egypt, Kenya, Myanmar, Nepal, Nigeria and Pakistan with additional locations opening soon.
At CDC, we take an entrepreneurial approach to investment. We think innovatively about ways to deploy our capital, attract and mobilise other investors, and drive transformational impact.
Primarily, CDC invests through direct equity, direct debt and funds products to achieve impact and a financial return which is reinvested into more businesses. We aim to create jobs and accelerate economic prosperity and focus on sectors that will do this; manufacturing, food and agriculture, infrastructure, financial institutions, construction, health and education.
CDC works with like-minded ambitious people who are primarily motivated by our mission to deliver impact. We are a growing team of over 485 and place immense value on diversity within our organisation.
Read more about us on our website cdcgroup.com
The Technology & Telecoms team covers both digital infrastructure businesses as well as digitally-native and technology-enabled companies. It has been spun out as a separate industry practice within CDC earlier this year in testament to the firm’s recognition of the growing importance technology plays in driving economic development in our target markets.
The Technology & Telecoms team’s mandate covers both venture capital and growth equity investments with cheque sizes ranging from US$2m to US$20m for more passive co-investments primarily with CDC’s venture capital portfolio fund managers and from US$20m to US$250m for actively managed growth deals. We look to back high-quality management teams within established profitable enterprises and also invest in exceptional earlier-stage companies when they are the leading players in the development of a rapidly growing new market.
Our investments are purely in Africa and South Asia (SAARC), and we have a particular focus on businesses that are in or expanding to the poorer parts of those geographies as well as businesses with the potential for driving substantial inclusion, productivity and/or resource utilisation efficiency gains.
There are 5 levels in the team – Associate (post graduate scheme or eq.), Executive, Manager, Director & Team Leader. However, the team is very flat and people at all levels are involved in the real detail, and in representational work, both to Investment Committee and externally. Directors and, to a material degree, Managers act as deal leads/oversights.
There are 3 parts of the job (at all levels):
Origination – sector mapping, finding & evaluating investment opportunities, and building and maintaining relationships with companies.
Execution – analysing companies in detail, conducting due diligence, navigating the Investment Committee process, agreeing legal terms.
Portfolio management – analysing companies in detail, preparing for Board meetings, helping the companies wherever we can, preparing for follow-on investments, roll-ups and/or exits.
At Investment Executive level, you will spend the majority of your time on execution; by the time you are a senior Investment Executive you should be able to run with most of the execution stages largely unassisted. You will also be given some sub-sectors where you are responsible for origination and play a key role in portfolio management.
This particular Investment Executive position we are recruiting for will primarily focus on transacting in the US$15m+ later-stage venture and growth equity transactions end of the spectrum.
We are looking for candidates that will deliver from day one and who have the drive, ambition and tenacity to progress through the ranks.
Typically, candidates will have a solid grounding in fundamental analytics (financial / commercial analysis, valuation, financial modelling) from private equity, investment banking or strategy consulting.
The successful candidate will likely have at relevant prior work experience; an MBA, or similar, is helpful. Evidence of prior exposure to the tech & telcos verticals is also a strong plus.
Over and above quantitative skills, analytical rigour and attention to detail, the softer skills we are looking for include: (1) ability to look at complex problems and get to the root of the issue, (2) ability to build relationships with companies, (3) ability to communicate clearly on paper and in person, and (4) ability to multi-task.
Candidates will also need to evidence previous experience working in, or demonstrable passion for, Africa or South Asia, or at the very least an understanding of emerging markets.
Candidates should be strongly motivated by CDC’s development mission and ideally demonstrate some commitment to development or social goals through previous executive or non-executive activity.
Our cultural values
We look for team members who aspire, as we do, to work at our best and to be:
Impact-led, commercially rigorous
Tenacious in the face of challenges
Collaborative and caring
CDC is committed to diversity and inclusion and welcomes all applicants regardless of age, disability, gender reassignment, marriage and civil partnership, pregnancy and maternity, race, religion or belief, sex, sexual orientation or educational background.
Closing date: 02/12/2021