| June 3, 2024

Fund Manager, Refugee Economic Empowerment

Guest Author


  • Full Time
  • Anywhere
  • £70,000 p.a. USD / Year

Website The Refugee Venture Fund

Dear applicant,
Seven years ago, we set out with the simple goal of enabling refugees to thrive
through the power of their own ideas with TERN. Since then, we have created the
UKs largest start-up community for entrepreneurial refugees which now
supports over 450 founders.
We are privileged to experience the undeniable potential and passion of our
community members in action. Coming from a myriad of backgrounds and over
60 different countries of origin, they share a desire to use entrepreneurship to
take their destiny into their own hands; to improve their lives, that of their loved
ones, and those of their clients and new communities.
However, this community remains disproportionately underinvested in, and
access to capital has become one of the biggest barriers to growth. This is the
case across all forms of capital, but as the TERN community has grown, we have
become increasingly convinced that venture capital can play a key catalytic role
in creating a new generation of high-growth refugee-led companies. Companies
that can drive change both within their communities and the wider narrative
around refugee inclusion.
We are turning this belief into action with ‘The Refugee Venture Fund’: a £10 MM
pre-seed venture fund in the UK uniquely, and exclusively, focused on supporting
high-potential refugee entrepreneurs. With the support of our acceleration and
investment support partner, Village Capital, we aim to create a portfolio of 27
scaling refugee-led businesses over 3 years; a stepping stone towards a world
where venture capital embraces and enables refugee-led businesses.
The purpose of this role is to drive this vision. We are looking for someone who
shares our passion for equity, our belief in the power of entrepreneurship and
with the skills to allow us to execute against our funds vision.
You would be joining to help us close the fund as an external consultant, and
then as an employee of the GP management company with a % of the carry
to deliver our thesis over an initial 3-year deployment period.
We hope this excites you as much as it does us and look forward to reviewing
your application.


About the role


Purpose of the role

To drive the fund’s vision of creating a world where venture capital embraces and
enables refugee-led businesses.


The difference you’ll make

As a result of the work that you do, we will:
• complete our fundraise of £10mm for the UK’s first venture fund focused on the refugee community
• prove the investibility of refugee-led companies by achieving competitive returns
• create a portfolio of 27 refugee-led companies with above industry average levels of survivability
• prove that refugee-led scale-ups drive impact, with 66% of the portfolio being SDG-aligned and including incentives for all investees to hire from the refugee community


What you’ll do

We will look to you to:

• Lead on fundraising and investor relations, including maintaining strong relationships with LPs and participating in fundraising conversations to close the fund
• Support deal sourcing, including reviewing incubator & accelerator applications
• Leading on investment committee due diligence, including presenting
investment opportunities and coordinating decision-making
• Lead on funds compliance with terms of LPA, including managing an LP advisory committee
• Build the Fund’s reputation & leadership, including sharing updates on progress and learning to VC community, representing the Fund in key networks and driving our internal team’s performance
• Lead on supporting the portfolio companies post-investment, including actively monitoring and securing exits from investments as appropriate, and supporting accelerator capacity building activities
• Develop partnerships with other funds aligned with our mission, to catalyze coinvestment and follow on investment into the portfolio
• Lead on closing all investment transactions, including developing and negotiating terms, and leading on legal due diligence
• Lead the Fund’s financial operations, including cash management and compliance with legal, regulatory and tax requirements


Your team

Charlie Fraser, TERN – sourcing & pipeline development
Marta Zaccagnini, Village Capital – accelerator lead
Heather Matranga, Village Capital – fund management support


Your salary

£70,000 post initial close. See full T&C’s on final page.


Traits & skills we’re looking for


Vision, mindset & working culture



• You identify strongly with the fund visions
• You are passionate about empowering diverse entrepreneurs
• You believe in community first approaches
• You are open minded and curious, excited to co-shape an evolving role


Personal traits

You are:
• kind, empathetic & respectful
• patient and a good listener
• never afraid or too proud to ask for help
• joyful, friendly and inclusive: you make other people feel welcome, included, excited and motivated
• an experienced problem solver
• resilient and adaptive: you stay calm, creative and focused in adverse situations


Work ethos

• are reliable – able to set and maintain your own standards
• openly seek feedback
• express feedback openly, respectfully and kindly
• are ‘hands on’
• enjoy leading your own workstreams


Skills & Experience

Absolute ‘Must haves’

• Direct lived experience of forced migration
• At least 7 years of experience in entrepreneurial ecosystems, of which 3 years include direct
investment experience, either in early-stage venture capital or angel investing
• An understanding of fiduciary responsibility; you have had investment experience and
understand the professional responsibility that comes with managing other people’s capital
• A strong belief and track record of advocating for equity in the UK venture capital community
• Demonstrable ability to present and articulate a company’s vision and / or investment thesis
• A strong working knowledge of evolving business models, financial models and impact investing tools and instruments (equity, debt, grantmaking, PRI, etc), as well as basic business financials


Additional Desirable

• A Bachelor’s degree (or higher) in business, finance, economics, or a related field
• Hands-on experience as a founder or in a leadership role at a startup
• Experience in actively managing and supporting a portfolio of early-stage companies
• Demonstrable ability to provide strategic guidance, mentorship, and value-added services to portfolio companies
• Strong analytical skills to evaluate business models, financial models, market opportunities, and competitive landscapes
• Experience in fundraising and building relationships with limited partners (LPs) and potential investors
• Strong network in the UK VC and start-up ecosystem
• At least 2-3 years working collaboratively with the refugee community in the UK
• Detail-orientated and professional; you hate typos, can easily manage deadlines and prioritise your time, and take your own professional credibility seriously
• Exceptional communication skills, with the ability to successfully engage with high level leaders, portfolio company CEOs, investor community members, other stakeholders, fundraisers and media



To apply for this job please visit wearetern.org.