Innovate Alabama Capital Access Fund Manager Position

ABOUT THE ORGANIZATION

Innovate Alabama is the first statewide public-private partnership within the state of Alabama focused on innovation, entrepreneurship, and technology. Formed by Gov. Kay Ivey, Innovate Alabama is tasked with collaborating across sectors to advance industries, drive technology, and facilitate an environment where innovation and entrepreneurship thrive. 

In 2020 and 2021, Innovate Alabama partnered with Dr. Condoleezza Rice and Stanford University’s Hoover Institution to conduct comprehensive research, listen to entrepreneurs and small businesses across the state, and develop forward-thinking policy recommendations to create a more resilient, inclusive, and robust economy for Alabama to remain competitive in a 21st century world. In December 2021, Innovate Alabama delivered a comprehensive report of these recommendations to Gov. Ivey. Now, under the leadership of CEO Cynthia Crutchfield and the board of directors, Innovate Alabama exists to implement these recommendations, help innovators grow roots in Alabama, and continue to serve the state’s innovation and entrepreneurial ecosystem. 

OVERVIEW

Innovate Alabama is seeking a Fund Manager for the Innovate Alabama Capital Access Fund, a $15 million evergreen capital initiative designed to strengthen Alabama’s entrepreneurial ecosystem. This fund invests through two complementary vehicles: direct investments in high-growth Alabama startups and limited partner commitments to venture funds committed to investing in Alabama. All investment returns are reinvested to ensure a sustainable, long-term source of capital for Alabama companies. The Fund Manager will play a key role in day-to-day operations of the fund, data collection, and outreach efforts. 

KEY RESPONSIBILITIES

The Fund Manager will provide comprehensive oversight and execution of fund operations, including deal sourcing, diligence, investment execution, and portfolio monitoring. Responsibilities include: 

Portfolio Oversight and Management

• Oversee the execution of investment strategies within approved investment guidelines. 
• Manage the portfolio of direct investments and fund commitments to ensure compliance with investment caps, match requirements, and sector priorities. 
• Monitor financial performance, operational milestones, and risk exposure for all portfolio companies and fund investments. 
• Track financial performance, operational milestones, and exit events. 

Deal Flow and Review

• Identify and cultivate a robust pipeline of Alabama-based startups and co-investment opportunities. 
• Support deal flow by researching investment opportunities and meeting with startup companies and founders. 
• Provide recommendations on investment opportunities, follow-on funding, and exit opportunities. 

Fund-of-Funds Engagement 

• Maintain relationships with partner funds and their investment teams. 
• Monitor compliance with the requirement that participating funds invest at least $1 in an Alabama company for every $1 from Innovate Alabama. 
• Monitor capital calls, distributions, and reporting obligations from fund partners. 

Compliance and Reporting 

• Ensure portfolio companies and partner funds meet Innovate Alabama’s reporting requirements. 
• Support the preparation of quarterly and annual reports for the Board of Directors. 
• Maintain accurate investment and portfolio records in compliance with legal and regulatory requirements, including any Alabama Securities Commission obligations. 

REQUIRED QUALIFICATIONS

• 10 years of experience in venture capital, private equity, or investment management. 
• Proven track record in portfolio oversight and investment decision-making. 
• Familiarity with early-stage investment terms, due diligence, and fund governance. 
• Knowledge of Alabama’s entrepreneurial ecosystem and target industries. 
• Commitment to Innovate Alabama’s statewide mission. 

WORK ENVIRONMENT

This position operates in a professional office environment, with a hybrid work schedule. Occasional travel is required to meet stakeholders and represent Innovate Alabama at events. 

WHAT WE OFFER

• Competitive salary and benefits package commensurate with experience. 
• Hybrid work environment with flexibility. 
• Opportunities to impact Alabama’s innovation and entrepreneurial ecosystem. 
• Professional development and networking opportunities. 

HOW TO APPLY

To apply, a resume and letter of interest are required. The letter of interest should address how your previous experiences have prepared you to serve in this role. For full consideration, resumes and letters of interest should be emailed to applynow@amjhrsolutions.org before Friday, November 7, 2025. All submissions will be reviewed, with outstanding candidates forwarded for further consideration.