AVP, Head of Venture Capital

Who We Are

The Texas Permanent School Fund (PSF) is a constitutionally established education endowment with a 150 year history of supporting Texas public schools. Today, PSF manages more than $60 billion in assets and invests with a long-term perspective to generate sustainable funding for Texas K–12 education. Through a diversified investment portfolio, along with strong operational, legal, financial, and governance functions, PSF serves as a careful steward of public capital. Our work helps secure billions of dollars in school district bonds and supports more than 5 million students across 1,000 school districts statewide. Guided by principles of fiduciary responsibility, integrity, and service to Texans, PSF plays an enduring role in strengthening public education and investing in Texas’s future.

Job Summary

You will report to the CIO or DCIO of the Texas Permanent School Fund (TPSF) and be responsible for complex asset management across a portfolio of venture capital fund investments. You will collaborate closely with the Direct and Co‑investment team on follow‑on investments, co‑investments, and direct Venture Capital investments.

You will monitor, evaluate, and report on existing investments while assessing potential new Venture Capital opportunities. You will develop and present investment recommendations and manage ongoing manager relationships, ensuring effective and consistent communication with internal and external stakeholders.

You will play a key role in portfolio risk management, asset allocation, and continuous process improvement, leveraging data, analytical tools, and industry best practices. You will be accountable for portfolio performance and risk relative to established benchmarks, including oversight of pacing and related cash flows.

You will actively participate in investment and risk committee meetings and maintain current market and industry knowledge through continuing education and professional engagement. You will collaborate closely with investment leadership to achieve objectives that generate strong returns and deliver long‑term value to the fund and its stakeholders.

Duties and Responsibilities

Investment Due Diligence and Evaluation

Lead initial and ongoing due diligence of Venture Capital fund investments, including investment manager communications, on‑site interviews, document review, investment analytics, and reporting. Document, evaluate, and present investment processes, findings, and conclusions in support of investment decisions.

Portfolio Monitoring and Risk Management

Monitor and evaluate the performance of Venture Capital investments against established objectives and benchmarks. Identify risks, trends, and opportunities within the VC portfolio and recommend actions as appropriate. Define, monitor, and oversee investment management agreements and related schedules. Partner closely with legal counsel in negotiating fund documentation and contractual terms.

Market Engagement and Industry Presence

Network with Venture Capital investors, fund managers, and entrepreneurs to source insights and maintain market awareness. Establish and strengthen Texas PSF Corp’s presence and reputation as an active and informed participant in the venture capital industry.

Governance, Committees, and Compliance

Participate in internal investment portfolio forums, including Investment Committee and Risk Committee meetings. Prepare and present investment analyses, performance reports, and recommendations for committee review. Ensure adherence to approved investment policies, guidelines, and governance requirements, maintaining thorough documentation to support audit, compliance, and fiduciary oversight.

Professional Development and Industry Learning

Pursue continuing education, professional training, and industry engagement to broaden personal knowledge, skills, and expertise. Participate in industry events and forums both to enhance individual expertise and to strengthen the team’s collective understanding of markets, managers, and best practices.

Required Minimum Qualifications

Education:

• Graduation from an accredited four-year college or university with degree in finance, accounting, economics, or related field.

Experience:

• A minimum of ten (10) years’ experience in Venture Capital investments and related quantitative analysis work.
• Experience recruiting, managing, and developing a team of investment professionals.
• Strong PC experience with financial databases and software applications to include advanced Excel skills, Word, and PowerPoint.
• Experience in investment research and analysis and familiarity with market tools.
• Expansive relationships with Venture Capital fund managers and industry work groups.

Preferred Qualifications:

Education:

• Graduation from an accredited graduate degree program with a Masters of Business Administration or related program.
• Chartered Financial Analyst (CFA) and/or Chartered Alternative Investment Analyst (CAIA) designation.

Experience:

• Experience with analysis, evaluation, and investment in Private Equity.
• Experience managing General Partner relationships.
• Experience at a VC-funded start-up business.

Knowledge/Skills/Abilities

• Support the PSF mission - share the belief that all Texas students can achieve at high levels – college, career, military - and are deserving of exceptional public education.
• Knowledge of financial analysis, valuation principles and due diligence concepts pertaining to Venture Capital investments.
• Knowledge of private markets investment process, including due diligence process, investment monitoring and investment reporting. Basic knowledge of private investment accounting, procedures, and market operations; of investment banking; of statistical concepts and methods and their application to research analysis; of various financial data systems; and of macroeconomics.
• Skill in mathematics, statistics, and in the use of computer software programs, particularly Word, Excel and Power-point.
• Ability to apply financial research techniques and to conduct exhaustive searches and evaluations of vast amounts of data
• Ability to analyze, evaluate and summarize financial data and prepare management reports.
• Must participate in the broad management of the endowment through active engagement with the Investment Committee, Board of Directors, and other relevant internal and external stakeholders.

Physical Requirements

Ability to sit and work at a desk and computer for extended periods. Work requires mobility around the worksite routinely to carry out duties. This position may periodically require the ability to lift, carry, move and/or set up equipment and materials that weigh up to 15 pounds.

Travel/Schedule Requirements

• Domestic up to 10%.
• Hybrid office/telework schedule.
• Ability to work/travel outside of normal business hours.

Key Benefits

Texas PSF’s status as a special purpose governmental corporation allows for a unique opportunity to provide state employee benefits along with other company perks. Our extensive state employee benefits package includes retirement benefits, employer‑paid health and basic life insurance, generous paid holidays, and multiple retirement options—along with longevity pay and a range of optional insurance plans. You can find additional benefits details at www.ers.texas.gov. Employees also enjoy various in-house training and professional development opportunities, free downtown parking, flexible work arrangements, and an office location near the Moody Amphitheater at Waterloo Park.