Managing Director, Direct Investment

Location: London / Sheffield / Hybrid Working

(Expectation that you will attend an office 2 days per week)

Contract: Permanent

Hours: Full time 37.5 hours per week/flexible days and/or hours (Mon-Fri)

THE ROLE

In this position you will be responsible for leading the BBB group’s direct investment capabilities, providing oversight of product strategy and directing the design and development of new offerings. Working closely with the CIO and other Managing Directors responsible for investment products, you will ensure coordinated leadership and effective management of the Bank’s overall investment business. You will also engage with venture capital funds and company management teams, in collaboration with other senior members of the team, is a key element of the role, with a focus on generating potential investment opportunities

With ownership of relevant risk management activities, including first line of defence operational risk, company monitoring, and rating, you will identify and implement new product opportunities, ensuring that the direct investment portfolio remains strategically aligned and responsive to market needs.

You will be responsible for delivering new and follow-on investments, managing the portfolio (in close collaboration with the Portfolio Management function, where appropriate), and developing new strategic initiatives alongside other senior leaders in the business. This will include contributing to deal flow activities for the Bank’s external mandates, including the new ‘British Growth Partnership’ initiative.

In line with the Bank’s governance framework, you will participate as a member of relevant BBB Investment Committees.

With an active network and positive market reputation for sourcing, leading and managing direct investments in early and growth stage companies, you will also be able to demonstrate extensive direct investing/co- investment experience, as well as a proven ability to work alongside tier one VCs in a collaborative manner.

An up-to-date knowledge of deeptech and/or life sciences sector and track record of leading growth stage investments in (minimum one, ideally both of) these sectors is also essential as is portfolio management experience at board level as influencer and motivator.

Key Benefits

• 30 days annual leave plus bank holidays, opportunity to buy and sell up to 5 days holiday
• 15% employer pension contribution
• Flexible working
• Cycle to work scheme,
• Healthcare cash plan,
• Group Income Protection and life assurance
• Paid voluntary days, maternity, paternity, adoption, and shared parental leave
• Benefits designed to suit your lifestyle - from discounts on retail and dining, to health and wellbeing, travel, and technology...and plenty more

About British Patient Capital

British Patient Capital Limited is a wholly-owned commercial subsidiary of British Business Bank plc, the UK government’s economic development bank. It forms part of the British Business Bank’s plc’s commercial arm.

Its mission is to enable long-term investment in innovative firms led by ambitious entrepreneurs who want to build large scale businesses. It was launched in June 2018 with £2.5bn to invest over 10 years in venture and venture growth capital to support high growth potential innovative UK businesses in accessing the long-term financing they require to scale up.

British Business Bank

The British Business Bank is an established and influential institution with a key mission of driving sustainable growth and prosperity throughout the United Kingdom. It plays a vital role in supporting access to finance for smaller businesses, facilitating their development and contributing to the transition towards a net zero economy.

Since its inception in 2014, the British Business Bank has functioned as a government-owned economic development bank, operating independently to fulfil its objectives. It collaborates with over 200 delivery partners, including high street, digital, specialist, and challenger banks, venture capital and private debt funds, as well as fintech platforms, to implement its programs effectively.

With offices in Sheffield and London, the British Business Bank currently employs approximately 550 individuals.

As an organisation that values flexibility, wellbeing and collaboration, the British Business Bank introduced a hybrid-working model in 2020. Our colleagues typically spend an average of 2 days per week working in our offices, striking a balance between the advantages of remote work and the benefits of in-person collaboration. The successful candidate for this role should be able to commute to our office.

At the British Business Bank, we aim to represent the communities we serve, firmly believing that different perspectives make us stronger. We strongly encourage applications from individuals with varied experiences and backgrounds.

As a Disability Confident employer, we commit ourselves to having an inclusive, equitable and accessible recruitment process supporting applicants and employees, making reasonable adjustments whenever it is feasible.