Investment Manager

Job summary

At DSIT we’re all about improving people’s lives by maximising the potential of science & technology.

We accelerate innovation, investment and productivity through world-class science, research and development.

We use technology for good by ensuring new and existing technologies are safely developed and deployed across the UK, with the benefits more widely shared.

We are driving forward a modern digital government which gives citizens a more satisfying experience and their time back.

We do all this to enable the Government’s 5 national missions: kickstarting economic growth, making Britain a clean energy superpower, taking back our streets, breaking down barriers to opportunity and building an NHS fit for the future.

Above all, we focus on improving people’s lives. Whether it’s researching new treatments for disease, developing better batteries, reducing burdens through better public services, keeping children safe online, and much more, outcomes for citizens are at the heart of what we do.

Our Inclusive Environment

We offer flexible working benefits, employee well-being support and a great pension. We are enormously proud to be a Disability Confident Leader employer. We support candidates with adjustments throughout our recruitment process. Information about disability confidence and just some examples of the adjustments that you can request can be found in the reasonable adjustment section below.

Please note

Former DSIT recruitment campaigns are continuing as usual, but candidates should be aware that following the Government’s announcement on the changes to some civil service departments, roles will be subject to the machinery of government moves and will ultimately be in one of the new departments. We will provide more information if you are selected for a role. This work remains of high importance to the civil service, and we thank you for your continued interest.

Job description

Role Overview

An excellent opportunity to join a unique, high-performing early-stage deep technology investment fund deploying up to £100m per annum within an exceptional National Security and Defence (NS&D) mission and values aligned culture.

As an Investment Manager, you will play a prominent role in the NSSIF investment team, working closely with the Senior Investment Partners and Analysts across core investment activities, owning the origination, evaluation, execution and management of investment opportunities. You will be part of a growing team that helps NSSIF identify and invest in cutting-edge technology capabilities aligned to HMG priorities.

About NSSIF

The National Security Strategic Investment Fund (NSSIF) is the UK’s Government’s dual-use deep-tech corporate venture capital fund for National Security and Defence (NS&D).

NSSIF’s mission is to ensure the UK NS&D community can access and adopt the most innovative technology at pace and scale, delivering strategic advantage to the UK as well as protecting the UK's security. We invest to accelerate UK NS&D’s access to cutting edge capability, nurture conversancy and alignment in the VC ecosystem with NS&D priorities, and provide value for UK taxpayers. NSSIF is differentiated by its unique end user and mission partner network, providing a direct link between early-stage tech teams and national security and defence missions.

NSSIF drives impact through:

- Direct investment into pioneering deep tech companies, predominantly UK based
- Indirect (LP) investment in relevant early stage and growth venture capital funds
- Delivering work programmes to end users across NS&D to accelerate technology readiness and provide insight across government.

Building on impressive performance, NSSIF is now scaling up to deploy up to £100m per annum. We have a direct portfolio of nearly 35 companies across AI, quantum, space and emerging technology, have to date have invested in 6 companies which have gone on to achieve unicorn status, and have achieved three exits. We have invested in over 20 other fund managers through our indirect investments, and enabled over 50 work programmes, 41% of which have resulted in contracts with NS&D customers.

NSSIF is a partnership between the NS&D community and the Department for Science, Innovation and Technology (DSIT) that supports national security, accelerates technology development across DSIT’s frontier technologies and beyond, and drives growth in the UK economy. NSSIF investments are made through British Technologies Investments Limited (BTIL).

You can find more on NSSIF’s website www.nssif.gov.uk.

Person specification

1) Venture investment. Lead end-to-end direct investment activity within one or more of NSSIF’s technology themes, from origination through execution.
a) Engage across the dual-use technology ecosystem, including start ups, accelerators, incubators, universities and research organisations, to identify emerging technologies and investment opportunities.
b) Drive the development and triage of a pipeline of opportunities, leading investment evaluation and development of investment case papers for submission to the Investment Committee.
c) Support deal execution and syndicate engagement, working closely with co‑investors and counterparties.

2) Portfolio management and reporting. Be responsible for portfolio monitoring activities, tracking performance, strategic outcomes and portfolio data.
a) Monitor and analyse portfolio company performance, tracking progress against milestones and supporting companies through follow‑on financing, strategic inflection points and exit processes.
b) Own the capture and maintenance of portfolio performance data within the CRM, ensuring timely, accurate inputs to underpin internal reporting, external assurance and valuation activity.

3) External engagement and events. Engage externally on behalf of NSSIF to strengthen relationships with accredited fund managers and dual-use companies.
a) Attend key events, forums and industry engagements with a focus on building awareness of NSSIF’s mandate and investment approach.
b) Engage regularly with accredited fund managers and co‑investors to understand emerging market trends, technologies and deal-flow they are seeing.
c) Track and synthesise market insights from fund manager and event engagement, proactively flagging companies and themes of interest to support NSSIF pipeline development and connectivity across syndicates.

4) Market intelligence and insight. Build understanding of the dual‑use innovation landscape through market research, technology scouting and structured insight.
a) Develop and maintain an informed view of technology landscapes, market dynamics and investment trends across NSSIF priority sectors, drawing on external engagements and independent research.
b) Work closely with the NSSIF Insight function to support insight commissions that inform investment decision‑making, including contributing market perspectives, shaping research questions and translating findings into investment‑relevant outputs.
c) Capture and disseminate market intelligence and insights through NSSIF’s CRM, insight reports and shared team knowledge base.

5) Strategy formulation. Drive the evolution of NSSIF’s Investment Strategy, informing portfolio construction and exit considerations.

This is an outline description of the key responsibilities and accountabilities involved in the job. It is not exhaustive and aspects of the role may be revised/developed from time to time.

Essential Criteria

Essential:

· Experience of diligence, execution and management of VC direct investment deals.
· Excellent communications skills, and comfortable with public speaking.
· Highly collaborative and professional, with high integrity.
· Adaptable skill set which can be deployed across the NSSIF team as needed.
· Team-player and able to build excellent long-term relationships.
· Effective prioritisation skills and problem-solving capabilities.
· Able to deal with ambiguity and uncertainty.
· Strong analytical, strategic planning, and decision-making skills.
· Strategic thinker with the ability to balance risk management and early-stage investing.

Desirable Criteria

• Experience of working in UK NS&D and/or HMG environments.
• Experience of working with deep technologies, particularly in a technical role.
• Existing network of venture capital fund manager and wider ecosystem relationships.
• Experience of conducting early-stage investing.
• Experience of M&A and or other deep technology exits.
• Formal qualifications relevant to deep technology and or venture investing.

Behaviours:

• Ability to deliver results over the long term and see projects through
• Highly collaborative, with an open approach
• Highly professional, high integrity
• Self-starter, able to work effectively without close supervision
• Ability to produce effective reports and presentations

NSSIF offers flexible working arrangements, with the NSSIF office in central London.

Behaviours

We'll assess you against these behaviours during the selection process:

• Communicating and Influencing
• Seeing the Big Picture
• Making Effective Decisions
• Managing a Quality Service

Benefits

Alongside your salary of £58,275, Department for Science, Innovation & Technology contributes £16,882 towards you being a member of the Civil Service Defined Benefit Pension scheme. Find out what benefits a Civil Service Pension provides (opens in a new window).

The Department for Science, Innovation and Technology offers a competitive mix of benefits including:

• A culture of flexible working, such as job sharing, homeworking and compressed hours.
• Automatic enrolment into the Civil Service Pension Scheme, with an employer contribution of 28.97%.
• A minimum of 25 days of paid annual leave, increasing by 1 day per year up to a maximum of 30.
• An extensive range of learning & professional development opportunities, which all staff are actively encouraged to pursue.
• Access to a range of retail, travel and lifestyle employee discounts.

Office attendance

The Department operates a discretionary hybrid working policy, which provides for a combination of working hours from your place of work and from your home in the UK. The current expectation for staff is to attend the office or non-home based location for 40-60% of the time over the accounting period.

Things you need to know

Artificial intelligence

Artificial intelligence can be a useful tool to support your application, however, all examples and statements provided must be truthful, factually accurate and taken directly from your own experience. Where plagiarism has been identified (presenting the ideas and experiences of others, or generated by artificial intelligence, as your own) applications may be withdrawn and internal candidates may be subject to disciplinary action. Please see our candidate guidance (opens in a new window) for more information on appropriate and inappropriate use.

Selection process details

This vacancy is using Success Profiles (opens in a new window), and will assess your Behaviours, Strengths and Experience.

As part of the application process you will be asked to complete a CV, behavioural statements and personal statement.

Further details around what this will entail are listed on the application form.

Please use your personal statement (in no more than 250 words) to describe how your experience and personal motivations distinguish you as a candidate for this role.

Applications will be sifted on behavioural statements, CV, and personal statement.

In the event of a large number of applicants, applications will be sifted on the personal statement only.

Candidates who pass the initial sift may be progressed to a full sift, or progressed straight to assessment/interview.

The interview will consist of behaviour and strength-based questions.

Interviewees will be asked to deliver a presentation; further details with be provided nearer the time.

Sift and interview dates

Sift and interview dates to be confirmed.

Further Information

Former DSIT recruitment campaigns are continuing as usual, but candidates should be aware that following the Government’s announcement on the changes to some civil service departments, roles will be subject to the machinery of government moves and will ultimately be in one of the new departments. We will provide more information if you are selected for a role. This work remains of high importance to the civil service, and we thank you for your continued interest.

Existing Civil Servants and applicants from accredited NDPBs are eligible to apply,and can be considered on loan basis (Civil Servants) or secondment (accredited NDPBs). Prior agreement to be released on a loan basis must be obtained before commencing the application process. In the case of Civil Servants, the terms of the loan will be agreed between the home and host department and the Civil Servant. This includes grade on return.

For further information on National Security Vetting please visit the Demystifying Vetting website.

Reasonable Adjustment

We are proud to be a disability confident leader and we welcome applications from disabled candidates and candidates with long-term conditions.

Information about the Disability Confident Scheme (DCS) and some examples of adjustments that we offer to disabled candidates and candidates with long-term health conditions during our recruitment process can be found in our DSIT Candidate Guidance. A DSIT Plain Text Version of the guidance is also available.

We encourage candidates to discuss their adjustment needs by emailing the job contact which can be found under the contact point for applicants section.

If you are experiencing accessibility problems with any attachments on this advert, please contact the email address in the 'Contact point for applicants' section.

If successful and transferring from another Government Department a criminal record check may be carried out.

New entrants are expected to join on the minimum of the pay band.

A location based reserve list of successful candidates will be kept for 12 months. Should another role become available within that period you may be offered this position.

Candidates who meet the minimum benchmark may be placed on a Reserve List for consideration for similar roles, including those at a lower grade. Candidates who narrowly miss the benchmark and are not placed on the Reserve List may still be considered for an offer in a similar role at a lower grade.

Please note terms and conditions are attached. Please take time to read the document to determine how these may affect you.

Any move to the Department for Science, Innovation and Technology from another employer will mean you can no longer access childcare vouchers. This includes moves between government departments. You may however be eligible for other government schemes, including Tax Free Childcare; for further information visit the Childcare Choices website.

DSIT does not normally offer full home working (i.e. working at home); but we do offer a variety of flexible working options (including occasionally working from home).

DSIT cannot offer Visa sponsorship to candidates through this campaign.

DSIT holds a Visa sponsorship licence but this can only be used for certain roles and this campaign does not qualify.

In order to process applications without delay, we will be sending a Criminal Record Check to Disclosure and Barring Service on your behalf.

However, we recognise in exceptional circumstances some candidates will want to send their completed forms direct. If you will be doing this, please advise Government Recruitment Service of your intention by emailing Pre-EmploymentChecks.grs@cabinetoffice.gov.uk stating the job reference number in the subject heading.

Applicants who are successful at interview will be, as part of pre-employment screening, subject to a check on the Internal Fraud Database (IFD). This check will provide information about employees who have been dismissed for fraud or dishonesty offences. This check also applies to employees who resign or otherwise leave before being dismissed for fraud or dishonesty had their employment continued. Any applicant’s details held on the IFD will be refused employment.

A candidate is not eligible to apply for a role within the Civil Service if the application is made within a 5 year period following a dismissal for carrying out internal fraud against government.

Feedback

Feedback will only be provided if you attend an interview or assessment.

Security

Successful candidates must undergo a basic (or equivalent) criminal record check.Successful candidates must meet the security requirements before they can be appointed. The level of security needed is security check (opens in a new window).

See our vetting charter (opens in a new window).People working with government assets must complete baseline personnel security standard (opens in new window) checks.

Nationality requirements

This job is broadly open to the following groups:

• UK nationals
• nationals of the Republic of Ireland
• nationals of Commonwealth countries who have the right to work in the UK
• nationals of the EU, Switzerland, Norway, Iceland or Liechtenstein and family members of those nationalities with settled or pre-settled status under the European Union Settlement Scheme (EUSS) (opens in a new window)
• nationals of the EU, Switzerland, Norway, Iceland or Liechtenstein and family members of those nationalities who have made a valid application for settled or pre-settled status under the European Union Settlement Scheme (EUSS)
• individuals with limited leave to remain or indefinite leave to remain who were eligible to apply for EUSS on or before 31 December 2020
• Turkish nationals, and certain family members of Turkish nationals, who have accrued the right to work in the Civil Service

Further information on nationality requirements (opens in a new window)

Working for the Civil Service

The Civil Service Code (opens in a new window) sets out the standards of behaviour expected of civil servants.

We recruit by merit on the basis of fair and open competition, as outlined in the Civil Service Commission's recruitment principles (opens in a new window).The Civil Service embraces diversity and promotes equal opportunities. As such, we run a Disability Confident Scheme (DCS) for candidates with disabilities who meet the minimum selection criteria.The Civil Service also offers a Redeployment Interview Scheme to civil servants who are at risk of redundancy, and who meet the minimum requirements for the advertised vacancy.

Diversity and Inclusion

The Civil Service is committed to attract, retain and invest in talent wherever it is found. To learn more please see theCivil Service People Plan (opens in a new window) and the Civil Service Diversity and Inclusion Strategy (opens in a new window).

Apply and further information

This vacancy is part of the Great Place to Work for Veterans (opens in a new window) initiative.Once this job has closed, the job advert will no longer be available. You may want to save a copy for your records.

Contact point for applicants

Job contact :

• Name : Edmund P
• Email : Edmund.Phillips@nssif.gov.uk

Recruitment team

• Email : dsitresourcing.grs@cabinetoffice.gov.uk

Further information

Appointment to the Civil Service is governed by the Civil Service Commission’s Recruitment Principles. If you feel that your application has not been treated in accordance with the recruitment principles, and wish to make a complaint, then you should contact in the first instance DSITrecruitment.grs@cabinetoffice.gov.uk . If you are not satisfied with the response that you receive, then you can contact the Civil Service Commission. For further information on bringing a complaint to the Civil Service Commission please visit their web pages: Click here to visit Civil Service Commission/Complaints.

Attachments

DSIT T&Cs v1.2 Opens in new window (docx, 179kB)