At Prudence, we are committed to finding and investing in the next generation of iconic, global real estate technology companies. We are looking to add a new Associate to our investment team in New York City. If you are passionate about industry-changing technologies, start-ups and innovation, are intellectually curious and enjoy cultivating relationships with business-builders and founders, we would love to meet you!
The real estate sector is one of the last great frontiers for disruption by technology and being a venture capital investor in the proptech industry is a dynamic and inspiring experience. The massive market opportunities that exist and the emerging technologies that are solving major problems in the space make proptech investing tremendously compelling, and Prudence sits at the heart of it. Being on our team will give you a front row seat to a sector that is experiencing monumental growth and you will play an active, hands-on role in the global digital transformation of the real estate industry. We will be investing out of our recently raised third fund.
Our team is made up of down-to-earth but passionate individuals who love being a part of a creative and collaborative partnership. You will work side-by-side with our experienced Partners in all phases of the investment process: industry research, sourcing, relationship building, company due diligence, investment structuring & closing and supporting our portfolio companies. through company updates and participation in board of director meetings. In addition, you will spend time gaining exposure to firm-level strategic initiatives and priorities: investment strategy, fundraising, and corporate development. We want you to grow in your investing and entrepreneurial career and are excited to provide mentorship, support and direct business-building experience to help you succeed.
What do we look for in an Associate?
We would love to work with anyone who has a demonstrated passion for industry-changing technologies and a collaborative, self-motivated and inquisitive attitude. Additionally, there are a few specific things we tend to prioritize:
- A few years of skill building: Around 2–4 years of relevant work experience, such as in investment banking, consulting, investing or operations at a high-growth tech company or start-up (particularly in roles like product management, business operations, or engineering).
- Intellectual curiosity: At Prudence, we take a fundamentals-first approach to our investing philosophy, and a lot of great ideas are born out of our team discussions, market research, conversations with founders and industry experts and experiences in your everyday life. An inquisitive nature and a passion for innovation makes this job really fun.
- Enthusiastic about technology: We are investing in proptech companies that have reached their moment of breakout growth, driven by continually advancing and evolving technological capabilities. We want you to bring your point of view on and a genuine interest in the exciting world of technology and its ability to continue transforming the global real estate industry. A passion for or experience in crypto/blockchain technology is a plus.
- Self-starter attitude: We are a small and nimble team and we tremendously enjoy co-creating our firm’s path together. We are looking for an Associate who has an entrepreneurial streak and is excited to have autonomy, creativity and self-motivation at the core of his/her work.
- Humble, yet motivated relationship builder: Our team at Prudence prioritizes authenticity and humility in everything we do, from investing to our internal interactions to everything else in between. We are seeking a collaborative, low-ego team member who is excited to build long-term relationships with our team, our founders, our limited partners and the diverse proptech community.
How you will spend your time:
Sourcing New Investment Opportunities
- At Prudence, we view deal sourcing as one of the key pillars of our investment activity, alongside underwriting and portfolio management, and we can only successfully generate strong returns for our investors if we find the best investment opportunities. A critical part of what we do is finding great new companies to invest in and help catalyze their moment of breakout growth.
- As such, you will be encouraged to spend a lot of time focused on sourcing new investment opportunities and open our funnel to as many channels as possible. These channels include both proactive, outbound sourcing efforts (reaching out to interesting founders, attending conferences, tracking relevant deals, market mapping) as well as responding and evaluating inbound leads from trusted partners (LPs, founders, seed funds).
- We are a global proptech firm, so your sourcing efforts will not just be restricted to the U.S. — we will encourage you to expand your network and reach out across country boundaries to have a truly international footprint.
Evaluating Companies and Running Investment Due Diligence
- We are different than many venture capital firms in that we are highly concentrated investors who apply a growth equity-like methodology to the early stages in an effort to identify companies at their moment of breakout growth.
- This means we evaluate companies in a very detailed manner and can deeply understand their business models and market opportunities to give us a very high degree of conviction that we are investing in winners. Prudence investments have a product that is built and in the market so we can measure engagement, retention and repeat usage of that product and the breadth and depth of marketing channels in order to get an early sense for unit economics and of how the company will use our capital to scale. You’ll be leading these efforts to determine if you’d recommend an investment in a potential Prudence portfolio company.
- You will develop a thoughtful point of view through market research, speaking with experts across sectors and industries, performing TAM analyses, analyzing financial statements, speaking with customers and mapping out competitive landscapes. Once you’ve decided on a recommendation, you’ll present your findings and recommendation to Prudence’s Investment Committee.
Supporting Prudence’s Portfolio Companies and Founders
- As our companies scale and as we continue to make new investments, you will be actively involved with supporting our founders and companies in their ongoing operations, strategy plans and growth initiatives. You will be called on as a trusted advisor to assist CEOs and founders as they prepare for board meetings. You will be asked to create value for portfolio companies’ business development initiatives by facilitating introductions and commercial partnerships between Prudence’s investments and corporate LPs. You will also support the portfolio companies that are raising additional capital by introducing them to new investors and underwriting Prudence’s participation in follow-on rounds.
- Internally, you will also help drive Prudence’s tracking of portfolio performance by collecting and analyzing quarterly financial information and preparing summary materials for Investment Committee and our LPs.
If all of the above excites and intrigues you, we welcome you to apply!
To ensure consideration, please submit your resume through our application link by Monday, January 31, 2022, which includes answers to the below prompts:
- Question 1. Why is the Associate role at Prudence exciting to you? [max 300 characters]
- Question 2A: Share your perspective of a technology trend that you believe Prudence should be spending time on. [max 1000 characters]
OR
- Question 2B. What is one real estate technology start-up (pre-Series C) that Prudence should evaluate for investment and why? [max 1000 characters]
If you have any questions concerning your application, please contact Melissa Landry at melissa@prudence.vc
About Prudence:
Founded in 2009 in New York City, Prudence is a global early stage proptech investor. The firm manages over $200mm AUM and has made investments in industry-leaders such as Compass, Blockchain.com, CREXi, Sundae, Properly, Morty, CASAFARI, Maxwell and Evernest.
For more information on Prudence, please visit prudence.vc.
