Associate, Strategic Investment Fund

The Foundation

We are the largest nonprofit fighting poverty, disease, and inequity around the world. Founded on a simple premise: people everywhere, regardless of identity or circumstances, should have the chance to live healthy, productive lives. We believe our employees should reflect the rich diversity of the global populations we aim to serve. We provide an exceptional benefits package to employees and their families which include comprehensive medical, dental, and vision coverage with no premiums, generous paid time off, paid family leave, foundation-paid retirement contribution, regional holidays, and opportunities to engage in several employee communities. As a workplace, we’re committed to creating an environment for you to thrive both personally and professionally.

The Team

In 2009, the Gates Foundation established its Strategic Investment Fund with the mandate to use equity, debt and guarantee investment tools to further the philanthropic goals of the organization. Making investments out of a $2.5 billion fund, the fund has become a leader in the “impact investing” industry successfully completing more than 110 investments across a number of the foundation’s strategic priority areas which include programs in global health, global development, gender equality and US education.

Investments are made in support of the charitable impact theses of the strategy teams which employ technical experts from around the world. Representative past investments from the fund include:

• $11 million Series A preferred equity investment in bKash, Ltd., the largest mobile payments platform in Bangladesh serving more than 80 million unique customers across 500M monthly transactions.

• $55 million Series B preferred equity investment in BioNTech SE, a commercial biotechnology company developing immunotherapies for cancer and mRNA vaccines for infectious disease (IPO September 2019).

• +$300 million combined volume guarantees to Mylan Laboratories and Aurobindo Pharma to support the introduction and supply of new HIV drugs at affordable prices in low-income countries.

• €10 million Series C preferred equity investment in Aphea.Bio, an agricultural biotechnology company developing crop biostimulant and biocontrol/protection products.

• $5 million Series B preferred equity investment in Pula, a leading insurtech company providing risk protection to over 4 million farmers annually across Africa; and

• $300 million loan to Gavi and the Serum Institute of India to support scale-up of COVID-19 vaccines for low and middle-income countries.

Investments from the fund are structured as “program-related investments,” which is a defined term in the US Internal Revenue Code that governs charitable investments made by private foundations.

This position is a limited-term position for 24 months and will be based in our Seattle, WA office. Relocation assistance is available.

The Strategic Investment Fund is seeking an Associate-level investor, limited term employee (2 years) to further grow the investment portfolio by contributing to thesis formation, deal origination, investment execution (due diligence, financial modeling, documentation, and development of charitable partnership) and investment management activities across the foundation’s focus areas.

What You’ll Do

It is expected that the Associate will focus on the following responsibilities:

• Work closely with foundation program strategy teams to understand their impact objectives and partner with technical colleagues to form investment theses and source potential investments through active outreach and relationship-building within the entrepreneurial and investment communities.
• Join deal teams that include program technical experts, legal and investment colleagues to execute new investments, including performing initial evaluation, participating in shaping conversations with company, determining investment structuring, leading the due diligence process and financial modeling, and negotiating definitive legal documentation.
• Participate in presenting investments to the foundation's Investment Committee.
• Participate in all aspects of portfolio management, potentially including as an observer of the board of directors, through facilitating interactions between portfolio companies and foundation program teams, proactively identifying and mitigating key strategic, financial, and legal opportunities/issues and ensuring that the Investment Committee and leadership are informed on the impact/financial performance across the portfolio.
• Ensure high-quality interactions and provide clear and consistent communications with internal and external stakeholders.

Your Experience

We anticipate that the successful candidate will be an Analyst or Associate from a venture capital, growth equity, leveraged buy-out fund or investment bank with experience in deal sourcing, execution and company engagement and a deep interest in principal investing and belief in the foundation’s mission to drive innovative social impact.

A bachelor’s degree and a minimum two years of applicable experience is required.

Must be able to legally work in the country where this position is located without visa sponsorship.

The salary range for this role is $169,700 - $254,500 USD. We recognize high-wage market differences in Seattle and Washington, D.C., where our offices are located. The range for this role in these locations is $185,000-$277,400 USD. As a mission-driven organization, we strive to balance competitive pay with our mission. New hire salaries are typically between the range minimum and the salary range midpoint. Actual placement in the range will depend on a candidate’s job-related skills, experience, and expertise, as evaluated during the interview process.

Hiring Requirements

As part of our standard hiring process for new employees, employment will be contingent upon successful completion of a background check.

Candidate Accommodations

If you require assistance due to a disability in the application or recruitment process, please submit a request here.

Inclusion Statement

We are dedicated to the belief that all lives have equal value. We strive for a global and cultural workplace that supports ever greater diversity, equity, and inclusion — of voices, ideas, and approaches — and we support this diversity through all our employment practices.

All applicants and employees who are drawn to serve our mission will enjoy equality of opportunity and fair treatment without regard to race, color, age, religion, pregnancy, sex, sexual orientation, disability, gender identity, gender expression, national origin, genetic information, veteran status, marital status, and prior protected activity.