ICA Fund is seeking a full time Business Development Manager to help ICA on its mission of closing the racial and gender wealth gaps by leading the strategy and tactical implementation of pipeline development and ensuring a viable and diverse pool of small businesses that are a good fit for ICA’s integrated programs and investment approach. The position is based in Oakland, CA with hybrid in-office Tuesdays and Thursdays and remote work.
ICA: NOT BUSINESS AS USUAL
ICA is a venture capital Community Development Financial Institution (CDFI) that provides coaching, connections, and capital to accelerate great businesses and close the racial and gender wealth gaps. People of color, especially women of color, start businesses at higher rates — but are constrained by structural inequities and are often overlooked by mainstream funders. With a 27-year track record of supporting high-potential companies, ICA provides a continuum of support for entrepreneurs in the Bay Area through the combination of tailored accelerator programs – which provide hands-on advising and business education – and “catalytic” equity investments. ICA focuses on the following industries, but can evaluate companies on a one-off basis as well: food and beverage, technology, beauty and cosmetics, apparel/footwear/accessories, business services, and retail.
This opportunity will allow you to directly contribute to ICA’s commitment to accelerating entrepreneurs of color and women by building the pipeline of amazing companies we will accelerate. You will help our team take our work to the next level in a deeply rewarding environment because:
- We partner intensely with our entrepreneurs over years and see the impact of our work daily when we buy and use their products, watch them create new jobs, and grow the local economy.
- We’re proving there is a better way to structure capital and support racial equity in small businesses through our unique VC/equity model of financing.
- We operate like a fast-paced lean startup – combining the best of the for-profit and nonprofit worlds with a laser focus on our entrepreneurs with a high priority on providing good jobs here at ICA.
Reporting directly to the Director of Investment, you will work collaboratively with the Marketing, Direct Services, and Investment teams to lead and manage the pipeline development function within the organization. This role is the first point of contact for any small businesses and referral partners, cultivating relationships in communities of focus and directly interacting with entrepreneurs in the 9-county Bay Area to understand fit and readiness for ICA’s programs and investment opportunities. Ultimately, this cross functional role is responsible for deeply understanding ICA’s direct service and investment criteria and building and maintaining a diverse and robust pipeline to accelerate new small businesses each year by:
- Managing, engaging, and growing a pipeline of -fitting and mission-aligned small businesses by:
- Conducting research to identify key Bay Area geographies for sourcing small businesses and partners
- Identifying partners and small businesses, strategize outreach, and keeping track of all outcomes
- Maintaining existing referral and partner relationships
- Identifying and forming new relationships that align with ICA’s programs and investment criteria
- Tracking and engaging with prospective companies through their pipeline journey
- Engaging small business ecosystem partners, civic organizations, trade organizations, businesses, education centers, and financial institutions to build and maintain client referrals in all 9 Bay Area counties served: Alameda, Contra Costa, Marin, San Francisco, San Joaquin, San Mateo, Santa Clara, Solano, and Sonoma counties
- Cultivate internal referrals from program alumni and investment portfolio companies
- Attending and hosting events to attract companies, partners, and opportunities to ICA
- Leading the programs application outreach process with the goal of guiding good fitting pipeline companies complete the program application and programs alumni to complete the seed equity application, when appropriate
- Own and maintain the internal tracking system showing the organization’s visibility and outreach metrics related to:
- ICA internal marketing efforts, via the Marketing and Communications team
- ICA internal outreach efforts, via the programs and investment teams
- Partner events
- ICA hosted and co-hosted events
- Peer-to-peer referrals and support opportunities
- Represent ICA and be an external spokesperson and entrepreneur advocate though:
- Public speaking opportunities
- Attending networking events, maker markets, conferences, trade shows, and entrepreneur and service provider events to understand the market and changing market dynamics, share and learn of emerging needs of entrepreneurs nationwide and in the Bay Area, and build the ICA pipelines
- Supporting the selection and vetting of potential programs companies by participating in selection of Accelerator and Lab companies and observing ICA’s investment diligence and approval process
- Supporting the referral bonus program by confirming application referral information and communicating with applicable referral partners
- Explore and adopt new tools and software as needed to execute on the sourcing strategy
WHO YOU ARE
- You enjoy being in-market, meeting new potential clients, and connecting them to the right solutions.
- You love talking to people, building relationships and supporting small businesses.
- You have empathy and an appreciation for the entrepreneurial journey.
- You have an understanding of the CDFI and/or venture capital industries or can learn fast.
- You are an effective communicator in person and on email.
- You are a deep listener who prides themselves in understanding both what is said and unsaid.
- You love to ask questions and are naturally curious.
- You are empathetic and self-aware.
- You thrive in a learning environment and are excited about learning new things and challenging yourself.
- You enjoy meeting people and learning about them and their interests.
- You thrive in a culture that prioritizes diversity, and values honesty, integrity, and authenticity.
- Enthusiasm for ICA’s mission and values. Strong commitment to racial justice work.
WHAT YOU BRING
- 2+ years of business development, sales, or banking and/or investment deal sourcing experience
- Experience in an entrepreneurial business environment, working in or advising underrepresented founders, business development, and deal sourcing and financial analysis
- Experience in startup or small business support models - accelerators, alumni network support, incubators, and/or consulting program models
- Experience overseeing complex projects and excellent project management skills
- Energetic, forward thinking and creative with high ethical standards
OUR OFFER AND COMMITMENT
The annual base salary for this position is $90,000-100,000. Compensation also includes a discretionary bonus paid annually based on organization and individual performance.
ICA’s full benefits package includes: 13 paid holidays per year; 3 weeks of annual paid vacation; 10 days of annual paid sick leave; at least 3 employer-identified mental health days; employer-paid health, dental, vision, life insurance and disability benefits; 50% employer-paid dependent health; employer-paid mental health counseling; 24-hour online virtual healthcare; 401(k) plan with matching; and mobile phone / Internet reimbursement.
ICA is an equal opportunity employer. We evaluate qualified applicants without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, veteran status, age, and other legally protected characteristics.
People are key to our success, and we’d like to get to know you. Depending on your progress through our hiring process, you may go through the following steps: A round or two of panel interviews; completion of an exercise or case study; and reference-checking of previous supervisors and colleagues.
HOW TO APPLY
Please submit both a resume and a very brief cover letter (combined into one PDF or Word document) by February 5, 2024 by clicking on the Apply button here: https://www.ica.fund/careers
Oakland, CA 94612