Position Available

April 26, 1996

Seed Capital Venture Fund Manager

The newly created Seed Capital Venture Fund in Cleveland, Ohio is seeking a fund manager. The fund will be professionally staffed with experienced managers who have a substantial ability to drive the fund to invest for returns, not perform community service. Key elements of the fund's structure include its focus on seed capital and early stage investment in technology-based companies in the State of Ohio, with heavy emphasis initially on Northeast Ohio opportunities.The structure of the fund is a limited partnership with a 10-year life. Gains will be shared 80/20 with the Fund Manager who will in turn share 3 to 4 points with appropriate nonprofit "intermediaries." A Board of Advisors comprised of members of the venture capital community, representatives of Cleveland Tomorrow (similar to the chamber of commerce) and state-wide members will help in raising capital, but will not make investment decisions.

Candidates for this position must have a minimum of five years of successful investment experience, most of which should have been focused on true early stage investments. An engineering degree or basic science education would be helpful, but is not required. The better candidates will likely have an M.B.A. This fund MUST be run from Cleveland, so relocation may be required.

Send resumes to: Seed Capital Venture Fund, Fund Manager Position, Heidrick & Struggles, 600 Superior Avenue East, Suite 2500, Cleveland, Ohio 44114-2650. Only those candidates selected for further consideration will be contacted.