From:
Date: March 18, 2019
Subject: PE/VC Club Weekly Newsletter: 3/17/2019
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CONTENTS: Upcoming Social Events and Administrative Items
Educational Events and Programming
Professional Opportunities
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UPCOMING SOCIAL EVENTS AND ADMINISTRATIVE ITEMS
Join the PE/VC Club GroupMe: https://groupme.com/join_group/43219133/AS765c Join the VC GroupMe to share specific information on resources, events and opportunities in the VC space and meet your fellow aspirational Silicon Valley tycoons: https://groupme.com/join_group/45298024/UWzc6w Website: http://hdl.library.upenn.edu/1017/90974/1 | UN: elecacqu@pobox.upenn.edu | PW: Preqin1 Where: Stotesbury Mansion, 1923 Walnut What: Open Bar / Live Band When: Wednesday, April 17th @ 9PM Attire: Black Tie (Black & White Only) Tickets are LIVE. Buy yours now at: http://w.cglink.me/r107929 EDUCATIONAL EVENTS AND PROGRAMMING
On Monday, March 18th at noon in JMHH F60 we will be hosting Tim Tully (W '05, CIO), Del Wright (COO), and Ben Vinograd WG'18 of Northern Swan for a lunch and learn on special situations investing. Northern Swan is a New-York based investment firm founded by principals from KKR, Blackstone, and Och-Ziff with investments in North America, South America, and Europe. It is focused on the federally legal cannabis industry with an emphasis on low-cost, large-scale cultivation as the cornerstone of building out distribution and brands. The Company employs a hybrid strategy of investment expertise and operational excellence that has uniquely positioned it to capitalize on explosive growth in the dynamic global cannabis industry. Northern Swan has 13 investment professionals as well as over 300 portfolio company personnel. It is currently looking for summer intern and full time hires for investment, business development, finance, and strategy roles. SHAKE SHACK will be served! 2. Personal Finance for Private Equity Professionals with First Republic, Tuesday March 19 12:00-1:20pm, JMHH G65
Join the PE/VC Club in partnership with First Republic Bank for an in-depth panel presentation tailored exclusively for Wharton student members. Topics will be centered on the Bank's experience working with individuals in their core private equity, venture capital, and investment management business verticals. The session will include practical tips and strategies related to personal finance and financial planning for the emerging private markets investor and business school graduate reentering the workforce. Lunch will be provided (Shake Shack).
Office hours are available with First Republic professionals following the event! If you prefer to meet in a 1-on-1 setting with the First Republic professionals, they've arranged for office hours from 1:45pm to 4:00pm, right after the presentation. You can sign up for a 15-minute slot here. Event will be conducted by video conference. Dharmesh joined Battery Ventures in 2015 to focus on early-venture and growth-equity investments in cloud infrastructure, big data, security and next-generation enterprise applications. He is actively involved portfolio companies Agari, Collibra, Contrast Security, Databricks, Expel, Fungible, Gong.io, Guardsquare, InfluxData, Jask, JFrog, Machinify, Narvar, Reflektion, Sensu, StreamSets, UpKeep, and Woven. Prior to Battery, Dharmesh was a managing director at Intel Capital, where he led the firm’s global cloud and big-data practice and made early- and later-stage investments in companies globally. Before Intel Capital, Dharmesh spent almost a decade in product management and go-to-market roles with enterprise-software companies like Keynote Systems (Nasdaq: KEYN), Manhattan Associates (Nasdaq: MANH) and two other startups leading to their acquisition. Dharmesh is a graduate of the University of Texas at Austin, where he received a BS in electrical engineering, Dharmesh also holds an MBA from the Wharton School of Business. Lunch will be served. Jeremy Levy will be back this week to teach Session 7 on Indemnification. Topics discussed will include caps, baskets, deductibles, and loss limitations; how the world worked 18 months ago (the traditional market) vs. how it works today (Rep & Warranty Insurance and "walk away" deals); and where the world is going. Materials will be sent around via the PE/VC Club GroupMe prior to Wednesday. As always, please review the materials in advance and come prepared to participate. Ted Schlein of KPCB will be hosting a student-run panel on 3/21/19 on campus. Further information in the attached flyer. Location TBD; additional information to follow. For more on Ted, here is his bio: https://www.kleinerperkins.com/people/ted-schlein/ 6. Wharton Private Equity & Venture Capital Conference, Friday March 22 8:00am-6:00pm, NY Athletic Club
We are delighted to invite you to the 25th annual Wharton Private Equity and Venture Capital Conference, which will be held on Friday, March 22, 2019 in Manhattan at the New York Athletic Club. A selection of highly respected private equity and venture capital professionals will discuss this year's conference theme, “Finding the Silver Lining”, how to capitalize on opportunities as we move forward in a complex landscape. We are excited by the high quality speakers and sponsors who will be contributing to these conversations, and we are pleased to feature our keynote speakers Joseph Landy (Co-CEO of Warburg Pincus), Jeff Aronson (Co-Founder of Centerbridge Partners) and Greg Mondre (Managing Partner of Silver Lake). With around 400 attendees, the Conference is one of the largest student-run industry events, bringing together prominent industry professionals with Wharton alumni, faculty and students to discuss critical issues facing investors today. For tickets and more information about this year's Conference, please visit our website. If you have questions, please do not hesitate to reach out to any of the Co-Chairs. We look forward to seeing you at the 2019 Conference! We're thrilled to announce the Wharton Entrepreneurship Summit, to be held at Google's Developer Launchpad on Friday, March 22, 2019. Beyond keynotes and fireside chats with key influencers in Silicon Valley, we're hosting an MBA startup pitch competition judged by 5 of the best early-stage venture capital firms in Silicon Valley. Kevin Penn joined American Securities in 2009 and currently serves as a Managing Director on the Investment Team. He is currently Chairman of the Board of Blue Bird and Learning Care Group, as well as a Director of Frontier Spinning Mills. Prior to joining American Securities, he founded and led ACI Capital Co., LLC since 1995. Previously, Kevin was EVP and Chief Investment Officer for a family investment office, First Spring Corporation, where he managed private equity, direct investment, and public investment portfolios. Earlier in his career, he was a Principal with the private equity firm Adler & Shaykin and was a founding member of the Leveraged Buyout Group at Morgan Stanley & Co. Kevin received a BS in Economics from the University of Pennsylvania’s Wharton School and an MBA from Harvard Business School with high distinction. Additional details to be provided in next week’s newsletter. 10. [NEW] PE/VC Speaker Series - Marc Magliacano (L Catterton), Wednesday March 27 12:00-1:15pm, SHDH 351
Please join us for a conversation with Marc Magliacano, Managing Partner at L Catterton. L Catterton, formed through the partnership of Catterton, LVMH and Groupe Arnault is the largest consumer-focused private equity firm in the world with over $15 billion of equity capital across six fund strategies in 17 offices globally. Marc will discuss the changes to the consumer and retail private equity landscape over the past 20 years and the ways in which L Catterton has continually adapted to differentiate itself. Additionally, he will speak to his experience with two notable investments - Peloton and Restoration Hardware. Lunch will be provided. Lluis Pedragosa is a Wharton MBA alumnus. He is Partner and the CFO of Team8, a cybersecurity company creation platform and VC with offices in Tel-Aviv and New York, where he focuses on data-driven, B2B software companies in cybersecurity, big data, and enterprise IT. http://w.cglink.me/r107876 The Wharton Latin American Private Equity Competition connects MBA students with private equity professionals from the leading funds investing in Latin America. The competition takes place every year as part of WHALAC, attracting several students from top business schools who seek to improve their investment skills, receive constructive feedback from PE professionals, and earn cash prizes. Come present your investment thesis to top private equity fund managers and multinational institutions active in Latin America. Find more details in the presentation previously sent around and sign up here! Do you have a startup idea and want to prove your concept, develop relationships with investors, meet other entrepreneurs and a cash prize to actualize your business? At Wharton Latin American Startup Competition we aim to connect young entrepreneurs to a powerful network of investors, mentors and venture capital professionals from leading funds investing in Latin America. As part of this initiative, WHALAC annually carries out a Startup competition where the contestants get an opportunity to pitch their business idea to an experienced panel of judges and the audience at the conference. This year, the competition will take place on Saturday, March 30. If you believe that your startup idea has what it takes, click the link below to subscribe to our interest list - you will get final details then. https://mailchi.mp/8de9d1ba7284/whalac-startup-competition-invitation-245233?e=b3e77c9e44 The 8th Annual Darden Private Equity Conference will take place at the University of Virginia's Darden School of Business on April 4-5th, 2019. Registration information can be found here.Conference schedule can be found here. Please reach out to Grant Lischick,Darden Private Equity Club President, with any questions. 15. Inside Private Equity - Dealmaking in Latin America Scholarship Program, November 20-23, Miami, FL
For anyone interested in PE in Latam, LAVCA and MIT are hosting a 4 day event with MDs of major PE funds in Latam (e.g. Advent, Carlyle, HarbourVest, etc...) in Miami and are giving a scholarship to an MBA student to attend for free. More information attached. PROFESSIONAL OPPORTUNITIES
CPP Investment Board (CPPIB) is accepting resumes for an expected full-time opening in their Energy & Resources (E&R) private equity group starting in Summer 2019. The position is likely to be based in either Toronto or New York (depending on both staffing needs and candidate preference). The E&R group was started ~4 years ago and has committed ~$9 billion in private equity capital towards platform builds, growth equity, and LBOs to-date across the energy value chain. To apply, email a copy of your resume to Alice Yang, Principal, at aliceyang@cppib.com 8-12 week program with the Bloomberg Beta, a venture capital firm focused on investing in early-stage startups relating to the future of work. Available for SF. Roughly 50% shadowing our team’s day-to-days around investing, research, portfolio/founder support and 50% independent project with some deliverable at the end (deep dive into a market, new startup ideas, content for publishing, dinner for expanding the Beta network). Application link: https://docs.google.com/document/d/131AiaT1DQJ_l1D_fTJOPXRRN8sz7WqXNP4ovubKPzQk/edit Pzena Investment Management is a NYC-based long-only value manager with $33 billion in AUM. Pzena is seeking a highly qualified individual to join the firm as a Research Analyst on its equity research team. We follow a disciplined investment process to implement our classic value philosophy. At Pzena, we think of what we do primarily as the analysis of businesses, and we spend a lot of our time meeting with senior managements, speaking with experts, and doing industry research. This could be a potentially very interesting opportunity for anyone with a consulting, PE, or industry background who is considering a career change into public markets investing. Resumes can be sent to Katie Hurley at hurley@pzena.com. We are an investment management firm based in Stamford, CT and Boston, MA having launched the firm in 2018. We manage two concentrated (8-15 position), long-only equity strategies – one small/micro-cap (“Smaller Companies Fund”) and one portfolio that is unconstrained (“Partners Fund”), though primarily focused on small and mid-sized companies ($1bn-$10bn market cap). Both portfolios are managed with the same investment philosophy and process: We emphasize an business owner approach as if we owned the entire company. We perform substantial due diligence to identify a select group of companies in outstanding industries that we would like to own over the long term. We invest when we can underwrite to attractive long-term absolute returns. In addition, we expect to be an engaged partner with our portfolio companies to help them focus on creating long-term value. In many ways, we take a private equity approach to public markets. We seek candidates for an equity research analyst internship position who are hard-working, humble, team oriented, and with a desire to join a winning culture. The position will be working on the Partners Fund. The responsibilities of the summer analyst will look to replicate the responsibilities of a full-time analyst, namely -- due diligence of potential new investments as well as on-going diligence and monitoring of existing holdings. The Partners Fund strategy focuses principally on companies in North America and Developed Europe across a range of industries. Interested candidates should email a resume to jp@longpathpartners.com.
Norwest Venture Partners is seeking an MBA Summer Intern to join the Consumer Venture Team. The intern will gain first-hand experience of the venture capital process and work on the cutting edge of business, technology and innovation. The role involves working closely with the investment team to 1) uncover new investment ideas and opportunities, 2) proactively build relationships with entrepreneurs and with VCs and 3) execute diligence including customer and management references, market sizing and mapping, financial modeling, competitive analysis and industry research. Further details are included in the previously attached document. If you are interested in this opportunity, please send your resume to MBASummerIntern@nvp.com. Interested in hands-on operating experience working for a search fund company? We are seeking entrepreneurial, analytical MBA1s who have a strong desire to dive head first into the search fund community. The strongest candidates will want to better position themselves for their own future entrepreneurial venture or to learn how to operate a high-quality business. Pacific Lake Partners is organizing an internship matching program that connects MBA students with high-performing search fund CEOs and companies. Pacific Lake will collect your resume and company preferences and match them with our search fund CEOs who will conduct the interviews. This is an opportunity to gain real operational experience at a rapidly growing company. Your experience will be across a range of projects and initiatives, and could include managing a financial analysis, developing go-to-market strategy, working on M&A opportunities, and developing strategic plans. Refer to previously sent attachment for applicationHigh Alpha, started in 2015, is a leading venture studio based in Indianapolis that is pioneering the category within the broader venture ecosystem. Our mission is to partner with entrepreneurs to create and fund companies through a new model for entrepreneurship. We are a team of experienced software experts & operators who work with entrepreneurs to start and fund world-class enterprise software companies. After raising our $100M second fund in mid-2018, we are ready to grow our venture team with talented individuals who are passionate about venture and helping entrepreneurs. High Alpha is looking for a Senior Associate passionate about technology, emerging trends, and venture capital. You’ll participate in ideation, sourcing, due diligence, and managing incoming solicitations for funding. You'll work with the High Alpha leadership and investment committee to fund next-generation enterprise cloud companies. Application: https://highalpha.com/job/?gh_jid=1302958 Red Sea Ventures, an early-stage Venture Capital firm located in NYC, is seeking an MBA Associate who will become an integral part of the fund’s day to day operations and investment process. The MBA Associate will work closely with the Red Sea Ventures team, attend pitch meetings, conduct due diligence, and share their views on investment opportunities. Responsibilities will also include summarizing potential investments and conducting extensive market research. The MBA Associate will receive fantastic exposure to venture capital, the technology industry, and the NYC start-up ecosystem and will gain experience in all aspects of the deal process including sourcing, investing, term sheet negotiation, and portfolio management. This position will be full-time over the Summer and have the option to be part-time during the Semester. Beyond the summer, the MBA Associate will be expected to spend ~12 hours in the office each week and be available for up to 20 hours/week in total. The Red Sea Ventures MBA Associate program has built a strong reputation over the past several years with almost ten MBA’s from top schools successfully getting exposure to early stage VC and ultimately full-time opportunities at other VC funds and VC-backed startups such as Box Group, 14W, Insight Venture Partners, Charge Ventures, and Jet.com. Please email hello@redseaventures.com using the subject “Red Sea Ventures – MBA Internship Application” and attach your resume and a brief cover letter. We are actively recruiting a Senior Associate to join the Town Hall Ventures team in our New York City office. This individual will work with the deal team all aspects of deal execution, including investment due diligence, theme development, and Limited Partner reporting in addition to providing ongoing strategic support to the Fund’s existing portfolio companies (details previously attached). We are looking for someone who thrives in a fast-paced, highly collaborative work environment and is passionate about the Town Hall mission of transforming healthcare delivery for the underserved. Minimum experience includes 2+ years of healthcare-focused investment banking, venture capital, growth equity, private equity, or management consulting. Contact: Ann Hickey (ann@townhallventures.com). Pinpoint is working on behalf of a Venture Capital Fund, a Fortune 15 company who are looking to hire a Post-MBA Sr. Associate to join their team based in Palo Alto. The Fund specializing in early stage investments, late stage, and seed capital investments. It often co-invests with other venture firms and strategic partners. Typically investing up to $5million. The firm usually requires board observer rights. My client has additional offices in New York, Basking Ridge, Palo Alto, San Francisco and Tel Aviv, Israel. The ideal candidate would possess:
Contact Vanesa Yordanova at VY@pinpoint.careers for further information. More information on MSPE attached. The Summer Associate role is a generalist position that provides investment professionals with broad exposure to a variety of sectors and investment opportunities through an 8-10 week program in MSCP’s New York office. Summer Associates are expected to evaluate new investment opportunities; lead transaction execution; develop capital structure and valuation views; monitor portfolio companies to maximize value; and manage relationships with management teams and corporate and financial sponsor partners. Summer Associates work directly with senior-level decision-makers including the fund’s investment partners, operating partners and leaders of current and prospective portfolio companies. For more information please contact James Stewart at james.r.stewart@morganstanley.com Join Turtle Holdings – a growing family investment firm in Toronto, Canada – and learn to think like a buy-side investor, develop private equity investment skills, and explore whether a career in the lower middle market private investing and family business world is the right fit for you. Successful candidates will help conduct due diligence and close 1-3 acquisitions (new platform and add-on acquisitions) over the coming 6 months, review new investment opportunities, and - for the right candidate - may be able to spend time working on projects with one of our portfolio companies as well. An ability to work remotely will be offered after a 2-4 day training session at our offices in Toronto. The Private Equity Summer Associate position is targeted to MBA students who will be between their first and second year of studies, pre-MBA students looking for an intership before matriculating later in 2019, and private equity or investment banking professionals looking at a career path change. Prior experience working in consulting, investment banking, or private equity encouraged, but not required. A passion for the lower middle market / family business world strongly encouraged. Further information is attached. Please submit cover letter and resume to dhertz@turtlehold.com Thrive Capital is a venture capital firm that invests in, supports, and builds innovative early and growth stage companies. This position is based in New York. Start date is flexible, but internship is full-time for 10-12 weeks. Must be authorized to work in U.S. Contact Willem Van Lancker at willem@thrivecap.com for further information. Raisa is looking for a highly motivated individual to run a project exploring one of several strategic priorities. Equipped with high-level goals and guidance from the Raisa team, the project owner will have considerable autonomy to explore and define the scope of the project.
Lexington Search Fund Capital (LSFC) is a private investing firm focused on investing in search funds, a vehicle for young entrepreneurs who want to acquire businesses to operate and grow. Whether it is strategically evaluating markets, identifying companies, structuring deals, advising on driving growth through key strategic and operating initiatives, the partners of LSFC have hands-on experience and a proven record of success to act as sounding board and mentor young entrepreneurs. If you are planning to raise or are in the process of raising a search fund and are interested in learning more about LSFC, please contact Chris Sekula at chris@lexsfc.com. Leadership Team Contact Details
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