Trillion Fund is a renewable energy community, directory and crowdinvesting business founded in 2012 to open up access in investments in renewables to a wider investor base and engage the general public in our energy future.
London, United Kingdom
13 Sep 2013
Opportunity has expired
Salary and equity package of up to £150k depending on experience.
Head of Investment
Crowdfund the UK's energy future: our online community is searching for renewable investment opportunities. They need product. Can you negotiate access for the ordinary investor to all the best deals in the sector?
London, United Kingdom
Applicants are required to hold the relevant Visas/Work Permits
Salary and equity package of up to £150k depending on experience.
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The Trillion community is growing in size and confidence and demand is building for renewable investments going into 2014. Already some of our more experienced members have started to use the website to source and select ways to put some of their money into renewables.
In the case of our own funders we have around £1m of pledges in place to ‘kick-start’ the crowd investing. Access to the best opportunities is core to the proposition, so there is an immediate strategic requirement to build a great directory which will set out every possible way of investing in renewable energy.
We need a good range and choice of investment opportunities so that members can diversify their risk and so that we can convert as many visits as possible into investments. These will generate a small fee for us, which will in turn finance our operating costs. In addition to identifying a range of good investments, commercial agreements (fees etc) will need to be concluded between Trillion Fund and each product partner, providing Trillion Fund with early revenues and demonstrating the market potential that underpins our business model.
Where we are now
Trillion Fund has mapped the retail investment landscape for renewables in the UK, and created a database that includes contacts in most renewable investment funds, developers, asset owners and corporates/corporate advisers.
The founding team, including Tom Hill-Norton and Julia Groves, have both a strong network and track record in the sector. Equally the publishing team, led by Rebecca O’Connor are rapidly growing both their own understanding and the profile and credibility of Trillion Fund as the authority on retail investments into renewable energy.
Feedback to date has been extremely positive, and every indication is that Trillion can very quickly add value by recruiting investors for third parties and that there is potential for exclusive raises on bespoke terms in the future when we have proven our abilities. The new directory design is now live and will be improved over the summer.
We have a handful of commercial agreements in place providing Trillion with our first revenues as fees for investments into products partners products, and a recent funding round of £1.2m has provided the working capital required to support the hire of a Head of Investment to develop the renewable energy directory and play a lead role in the business.
Role and Responsibilities
Leveraging the assets and traction that the team has built to date, the Head of Investment will have support from the Managing Director Julia Groves to convert investor interest and a pipeline of opportunities into a proper revenue generating business.
The role has five key responsibilities:
- Knowing the market: Building relationships with all the key companies (and funds) investing in or developing renewable energy assets. Knowing about new raises as soon as or before they come out and establishing Trillion’s credibility in the sector.
deals: Concluding commercial
terms agreements with product partners, pitching our investor recruitment
capability, proposing and negotiating terms for fundraising that align with our
business model. Finessing terms to support Trillion’s business, the needs of
our product partners and the needs of the investors. Maximising revenues and
margins for Trillion. Going on to develop investments proactively based on our
member’s needs (2014).
strategy: Revising thinking
and modelling based on new experience and data points as they come in, to
ensure forecasts are accurate, and that the team focuses their efforts in the
right areas and the revenue comes in. Considering up-front and trail fees,
gross and net rates, fixed fees and % etc. to establish the most profitable
revenue whilst delivering the best returns for investors. (Note: The product
strategy will also evolve over time as we extend our market into energy
efficiency and other sustainable investments.)
the directory: Ensuring that
all investment opportunities are accurately and well presented in the
directory. Working with the design team at Trillion and the product partners to
ensure the best possible user journey and consequently conversion rate from
browser to investor.
- Regulatory Compliance: Work with the compliance officer, MD and product partners to ensure we are at all times working within our permissions. Establishing a light-touch due diligence process that meets our regulatory obligations (reviewing directory partners and projects and ensuring we are clear at all times who is signing off the financial promotion). Then thinking through and effecting the ‘switch’ from being a client-led to a customer-led business, including potential changes to permissions required (e.g. direct authorisation, advice etc).
Please note: Whilst this role is not directly revenue generating, the ability of the business to generate fees is entirely dependent on there being sufficient product of the right mix and quality in the directory. In addition, the Head of Investment will become co-MD of the business going forward, with the current MD reducing her scope accordingly.
A not on regulation: Trillion is an Appointed Representative of Abundance NRG Ltd, permitting us to operate in this field within the scope of the FCA authorisations. A condition of our Appointed Representative agreement with Abundance Generation is that we do not create our own investment products. This means that we can only negotiate products for our investors that are structured by product partners or by Abundance NRG on our behalf and on a revenue sharing basis. Trillion will be working towards its own direct authorisation by mid 2014, with its own platform to handle investments.
About you (The important part!)
- A credible track record in investment, ideally in renewable energy (retail experience advantageous)
- Strong understanding of finance including modelling ability (and happy to roll your sleeves up and do it yourself for the first phase)
- Leadership skills and experience of growing an early stage business
- Understanding of project finance (or ability to learn very quickly) and ability to do high level due diligence on investment opportunities - split the wheat from the chaff.
- Current or prior FCA authorisation (CF1, CF30, etc) an advantage.
- Ability to quickly build credibility and relationships - any existing network in investments and renewables in particular very beneficial
- Proven ability to negotiate deals – this person must be a closer
- Motivated by disruptive business models and doing things for the first time.
- A good understanding of commission and introducer fees and regulations around that - and an appetite to find alternatives
- Strategic thinker who can work with the Board, advisor and other senior members of the team to develop the strategy.
- Team player, with broad skills and experience of the all-hands-on-deck moments that often arise in start ups
Compensation & Other Details
- Salary will be dependent on experience and equity mix. Likely range £70,000-£85,000
- The role will need to be full time within six months but could start part time (salary to be paid pro-rata and equity would be dependent on a long term commitment)
- Options package of 3-5% initially, with potential for further options to be negotiated via the EMI scheme in 2014 and depending on performance
- A performance related component would be added in due course
- A generous 30 days holiday a year
- Located at The Hub on Haymarket, London Piccadilly
Trillion Fund remains an early stage, pre-profit business with enough funding to run for 12-18 months at the current burn rate. Revenue will be key to cashflow.
The right candidate will feel this is the perfect time to join the business – late enough that all the groundwork has been done, and there is sufficient funding to pay salaries, but still early enough to shape the business and earn a meaningful stake.
The risks remain high, but we think the opportunity to democratise finance and decentralise energy in the UK is quite a prize...
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