VC Manager @ SWIB in Madison, WI

VC Stack; Madison (WI); Hybrid; USD 120,000 - 160,000; Full time

Benefits offered by this job

Competitive total cash compensation

Comprehensive benefits package

Educational and training opportunities

Tuition reimbursement

Challenging work environment

Job summary

VC Stack in Madison, Wisconsin is seeking an experienced Portfolio Manager to join its Venture Capital team. The individual will focus on identifying and managing fund commitments while partnering with premier managers and entrepreneurs.

Qualifications include over 10 years of experience in venture capital or growth equity, with a strong emphasis on analytical and communication skills. A hybrid work environment is offered along with competitive compensation and benefits.

Qualifications

• 10+ years of experience in venture capital, growth equity, or fund-of-funds investing.
• A proven track record of sourcing and managing fund investments.
• Strong financial modeling and valuation skills.

Responsibilities

• Identify and evaluate venture capital and growth equity fund opportunities.
• Lead fund due diligence and investment strategy evaluation.
• Monitor existing fund relationships and company performance.

Skills

Venture capital expertise

Fund investment management

Analytical skills

Communication skills

Negotiation skills

Education

Advanced degree (MBA, MS Finance)

Tools

Financial modeling

Portfolio management tools

Job description

The State of Wisconsin Investment Board (SWIB), founded in 1951, is a premier global investment organization responsible for managing the more than $156 billion of assets of the fully funded Wisconsin Retirement System (WRS), the State Investment Fund and other state funds. Through SWIB’s effective and innovative investment management, WRS remains one of the only fully funded US public pensions. We are the 9th largest public pension fund in the U.S. and the 25th largest public or private pension fund in the world. SWIB is recognized by the investment industry for our teamwork and innovation. SWIB pursues sophisticated global investment strategies across the asset and risk allocation spectrum. Providers across the investment ecosystem seek to partner with SWIB.

Serving more than 691,000 beneficiaries of the WRS, SWIB is a mission-driven organization focused on providing a strong financial future to those who committed their careers to public service. For public employees and the 1,500 Wisconsin employers who contribute on their behalf, we are a trusted partner. Our team innovates continuously to meet the challenges of an evolving investment landscape while growing and protecting the assets of the WRS.

SWIB provides a strong, steady economic pillar for the state of Wisconsin by growing the trust funds under its management, managing risk, and optimizing costs of the long term. We are a mission-driven organization and the participants we serve are our mission. By bringing a disciplined, prudent, and innovative approach to market opportunities, SWIB has been successful in generating required returns and maintaining the trust of the beneficiaries and stakeholders of the funds we oversee.

Home To Top Talent

Our high-performing staff is key to what makes us a premier investment manager. SWIB is committed to investing in talented professionals to implement our robust, sophisticated investment strategies and to keep the organization at the forefront of the investment industry. We encourage innovation and offer professional development opportunities to help staff sharpen and expand their skills. Approximately 61 percent of SWIB’s investment professionals are Chartered Financial Analyst (CFA) charterholders.

Overview

Job Description

We’re seeking an experienced investment professional to join our Venture Capital team as a Portfolio Manager. This high-impact role will focus on identifying, underwriting, and monitoring venture capital and growth equity fund commitments, with selective investment in direct opportunities alongside managers. You will support or lead sourcing, due diligence, relationship management, and portfolio monitoring, while partnering with top-tier managers and entrepreneurs to create enduring value for the Wisconsin Retirement System beneficiaries.

Key Responsibilities

• Identify and evaluate high-quality venture capital and growth equity fund opportunities through rigorous market research, sector analysis, and networking.
• Lead or assist in managing all aspects of fund due diligence, including investment strategy evaluation, team assessment, track record analysis, portfolio construction, and reference checks.
• Develop clear investment recommendations, prepare materials for internal investment meetings, and manage the approval process.
• Monitor existing fund relationships, track portfolio company performance, and maintain active dialogue with general partners.
• Source and evaluate select direct co-investment opportunities alongside trusted managers, including conducting financial modeling, market sizing, and risk assessment as needed.
• Participate on Limited Partner Advisory Committees (LPACs) for key fund relationships when applicable, providing thoughtful input on governance, conflicts, and other material decisions to ensure our investors’ interests are well represented.
• Provide insights on market trends and contribute to regular updates for SWIB’s Investment Committee, Trustees, and other stakeholders.
• Represent SWIB at annual meetings, industry conferences, and manager events to strengthen our network and market intelligence.
• Participate in panels, roundtables, and other speaking engagements to share insights, elevate SWIB’s reputation, and build industry connections.
• Collaborate with colleagues to refine portfolio construction, pacing, and allocation strategies to ensure alignment with the portfolio’s long-term goals.
• Travel in the US and internationally to meet managers, attend LPACs, and strengthen our global network.

Qualifications

Required

• 10+ years of experience in venture capital, growth equity, or fund-of-funds investing.
• Proven track record of sourcing, diligencing, and managing fund investments; experience with direct co-investments is a plus.
• Strong analytical skills and expertise in evaluating fund performance, manager track records, and portfolio company data.
• Excellent communication, presentation, and negotiation skills.
• Self-starter who thrives in a dynamic, relationship-driven environment; strong team player who can also work independently.

Preferred

• Deep sector knowledge in technology, healthcare, or consumer markets.
• Advanced degree (MBA, MS Finance, or related field).
• CFA charterholder or active CFA candidate strongly preferred but not required.
• Active engagement in industry events through speaking, panels, or thought leadership.

Technical Skills

• Strong toolkit for manager and fund performance evaluation, benchmarking, and portfolio construction.
• Strong financial modeling and valuation skills for direct co-investments.
• Solid proficiency with industry-standard portfolio management tools; experience with portfolio management and reporting systems such as eFront is highly desirable.
• Deep understanding of venture and growth equity market dynamics.

Cultural Fit & Soft Skills

• Passion for investing, innovation, and building long-term partnerships.
• Collaborative mindset with strong interpersonal skills.
• Team player who thrives in a small, tight-knit group and is easy to work with at all levels — we value respect, humility, and a low-ego approach to teamwork.
• Ability to think critically and make clear, thoughtful recommendations under tight deadlines.
• Highly organized, with excellent project management skills and attention to detail.
• Curious, adaptable, and solutions focused.

SWIB Offers

• Competitive total cash compensation, based on AON (formerly McLagan) industry benchmarks
• Comprehensive benefits package
• Educational and training opportunities
• Tuition reimbursement
• Challenging work in a professional environment
• Hybrid work environment

The position requires U.S. work authorization.

Pursuant to our Hybrid Remote Work Policy, all staff have the flexibility to work remotely, but are required to have a weekly presence in our offices, the frequency of which is dependent on their distance from office. Staff are not required to reside locally; however, we offer relocation reimbursement to the Dane County area per our policy.

All SWIB employees are subject to SWIB’s Ethics Policy and Personal Trade Approvals Policy. These policies include restrictions on outside business activities and employment and have limits on personal trading. You may request copies of these policies from SWIB’s talent acquisition team and any questions can be answered by SWIB’s compliance team.