Investment Associate (1091)

Aramco Ventures

Palo Alto, CA - Full Time

Overview:

The Investment Analyst supports deal leads and investment managers in performing workstreams in investment cases.  Contributes to and supports all aspects of venture capital investing, including market analysis, competitor and technology landscaping, IP landscaping, financial modeling, data room review, interviews with investee target management and personnel, reference calls, maintaining due diligence tracking, valuation analysis & market comps, cap table management and creation of return profiles via waterfall analysis, portfolio reporting, etc.  The Investment Associate also supports administration of deal flow management and analysis of market and competitor activity.

Job Purpose:

Aramco Ventures (AV) is the corporate venturing arm of Aramco, a world leading integrated energy and chemicals company.  The mission of the strategic venturing program – our $1.5 billion sustainability fund and $500MM digital/industrial fund – is ‘to invest globally into start-up and high growth companies with technologies of strategic importance to Aramco, to accelerate their development and deployment in Aramco’s operations’.  Established in 2012 with an initial investment capital allocation of $500MM, AV is a leading corporate venturing program globally and within the energy industry, and aims to be seen as a leading value-adding strategic investor in the global venture capital community. The Sustainability fund, announced in October 2022, supports Aramco’s ambitions to achieve net-zero Scope 1 and 2 greenhouse gas emissions across its wholly-owned operated assets by 2050, development of new lower-carbon fuels businesses, and furthering Aramco’s broader environmental objectives. The original $500 million fund from 2012 is now expected to be evergreen and has been refocused on digital and industrial technologies that can add value to Aramco’s operations.

AV’s investment team is responsible for identifying, executing and managing investments for the program, ensuring strategic relevance of technologies to Aramco and generating an attractive financial return on investment.  AV is headquartered in Dhahran, Saudi Arabia, with two key regional investment teams located in North America and Europe, in proximity to global energy innovation and venture capital hubs.  AV has adopted an activist investment strategy, commonly leading and structuring its investment transactions, and commonly taking board seat or board observer positions in its portfolio companies. The investment team also supports AV’s business development team in driving the adoption of technologies in Aramco. AV focuses on Sustainability investments in the following sectors;  Carbon management, utilization, and storage, including direct air capture, Renewables and energy storage, Greenhouse gas emissions detection and reduction, Energy efficiency, Nature-based greenhouse gas mitigation, Digital solutions, Greenhouse gas tracing and trading, Hydrogen and ammonia value chains, Synthetic renewable fuels, and Water and air quality.  For investments in the Digital/Industrial sectors, the focus is primarily on digital solutions that can provide operational benefit in terms of cost savings, capital efficiency, safety, workforce and human capital development, or competitive advantage.  We also selectively invest in disruptive technologies, hardware solutions, as well as technologies which could allow for alternative uses of hydrocarbon-based materials

Aramco’s regional investment teams are responsible for identifying and executing opportunities for investment in North America, Europe and globally.  The teams will coordinate screening of new proposals with Saudi Aramco entities and corporate operations, perform extensive on-the-ground due diligence on target companies and its management, and lead the investment process and portfolio management of portfolio companies.  

The Investment Associate supports deal leads and investment managers in performing workstreams in investment cases. Contributes to and supports all aspects of venture capital investing, including market analysis, competitor and technology landscaping, IP landscaping, financial modeling, data room review, interviews with investee target management and personnel, reference calls, maintaining due diligence tracking, valuation analysis & market comps, cap table management and creation of return profiles via waterfall analysis, portfolio reporting, etc.  The Investment Associate also supports administration of deal flow management and analysis of market and competitor activity.

Primary Duties: 

Deal Sourcing & Screening 

• Develop strong and wide networks with VC community (Limited Partnerships, Portfolio Companies, etc.), universities and research centers in North America. 

• Source quality deals through networking, conferences and desktop research.  Maintain deal flow & contact database entries. 

• Prioritize deal flow based on quality, fit, strategic value considerations and economic soundness.

• Perform site visits, calls and interviews with start-up management. 

Investment Process 

• Support opportunity assessment and due diligence processes for corporate venture capital investments as defined in the AV Investment Handbook, with support from senior personnel, e.g. market, competitor and technology landscaping, IP landscaping, financial modelling & sensitivity analysis, data room reviews, interviews with investee target management and personnel, reference calls, maintaining due diligence tracking, valuation analysis & market comps, cap table management and creation of return profiles via waterfall analysis, etc.

• Assist deal leads to develop comprehensive stage gate presentations/memos and final Investment Memorandums for the Management Advisory Committee (MAC) and the Investment Advisory Committee's (IAC) review.   

Portfolio Management 

• Support deal leads in developing recommendations for follow-on investment and exit recommendations, and shareholder actions, through research and analysis.

• Coordinate timely information on company related issues to headquarters and management.  

• Support deal leads efforts with portfolio companies assisting with fundraising, business development, strategy, staffing, etc. with the goal of adding value to the portfolio.    

Deal Exits 

• Support deal leads in the development of exit recommendations for MAC or IAC review. 

Reporting & Communication 

• Develop periodic information and updates on portfolio performance to headquarters and management.  

• Ensure all due diligence and legal transaction documents are on file and maintained per AV standards

Skills Required: 

• Communications – strong oral and written communications skills.  Ability to clearly articulate and both support and challenge ideas and recommendations.  Strong relationship skills and can proactively engage with peers and start-up company management to resolve issues. 

• Teamwork - aligns actions to promote achievement of team goals, influences others’ activities toward group goals, inspires self-confidence in others, places high priority on team performance, mentors less experienced professionals, resolves conflicts and removes obstacles.  

• Analytical skills - capable of analyzing problems in a logical manner and recommending solutions, considers both the long- and short-term impact of proposed solutions and develops workable solutions.  Strong financial and non-financial analytical skills. 

• Ethics - Honest and trustworthy and a model of high integrity.

• Technical and Commercial Acumen - capability to assimilate the commercial potential of new technologies and identify opportunities and risks, and assess investment opportunities.  Developing knowledge of core concepts in competitive and market strategy, financial analysis, investment analysis, valuation and due diligence. 

• Accountability - Take responsibility for actions. Deliver high quality work in a timely manner.  Self-motivated and proactive.

Business Contacts: 

• Frequent contacts with all levels of Management within Aramco Americas (AA) and Aramco Ventures.  Will also typically be active in national and international professional organizations within area of expertise.   

Minimum Requirements: 

• Bachelor's degree in Engineering or Sciences and/or Management or Finance from a reputable university.  Master’s degree preferred. 

• Developing knowledge of core concepts in competitive and market strategy, technology commercialization, intellectual property, financial analysis, investment analysis, valuation, negotiation, due diligence.   

Ability to: 

• use financial and non-financial skills to analyze problems in a logical manner and recommend solutions with consideration for the long and short-term impact of proposed solutions. 

• assimilate the commercial potential of new technologies and identify opportunities and risks, and assess investment opportunities.   

• display verbal and written communication skills, clearly articulate and both support and challenge ideas and recommendations.   

• utilize relationship skills and proactively engage with peers and start-up company management to resolve issues. 

• Proficient with business software applications. 

• Typically, at least four years of experience in venture capital, corporate venture capital, corporate development, consulting, investment banking, private equity, start-up leadership or related fields.  

• Experience in venture capital or corporate venture capital preferred. 

• Experience in energy or industrial sectors preferred. 

• International experience desirable. 

• Must be able to comprehend and communicate accurately, clearly and concisely in English. 

Decision Making and Supervision Received: 

Receives general supervision and reports to the AV Senior Investment professional at the office location and performs workstreams with guidance from senior staff. 

Work Environment and Physical Activity:  

• Operates personal computers & mobile devices. 

• Reads and comprehends digital & printed materials. 

• Expertise with word processing, spreadsheet, presentation and database functions in the Windows environment.   

• Domestic and international travel may be required.  Travels to conferences, meetings, seminars, and to prospective portfolio company offices in North America. 

• The job requires the typical physical demands of an office environment and is normally performed at a location that is an air-conditioned, well-lighted office building that meets building, safety occupant health, and facility access codes.