M13 was launched by brothers Courtney and Carter Reum in 2016 after selling their liquor company to a multi-billion dollar strategic acquirer. M13 has deployed close to $60M in consumer deals ranging from early to late stage (checks ranging from $100K to $12M+) in companies such as Lyft, Pinterest, SpaceX, Shake Shack, Kevita, Pressed Juicery, ClassPass, Slack, Blue Bottle and others.
Through the success of their liquor company they have built a strong network of fellow founders (e.g., Courtney and Carter have been named Goldman Sachs’ 100 most Intriguing Entrepreneurs the last four years) which have led to many of their investments. Examples include early round investments in brands like Warby Parker, Birchbox, Honest Co, Bonobos, Ring, Rothy’s and Daily Harvest.
Their portfolio (built over the last four years) has had 15 exits accounting for a 4.7x MOIC and an average IRR of 94%, returning ~75% of total invested capital of the 100+ direct investments made. The full portfolio currently has a mark-to-market of 25% annualized IRR.
Since 2016, they have kept their capital flexible (deal by deal) in order to perfect their approach to institutionalizing the acceleration of consumer brands at scale using a playbook approach of repeatable behaviors. This is important because the VC industry itself has been disrupted and is no longer only about about sourcing the best deals, but rather affecting outcomes to create the best deals. To this end they built a different type of investment firm with a platform approach to affecting outcomes that consists of capital funds and operating businesses. On the investing side, M13 has been speaking to large LPs about anchoring a capital raise of ~$200M in Q2/Q3 2018 in addition to the multi-hundred million dollars M13 currently manages (personal and LPs). On the operating side, M13 is negotiating an agreement with a large CPG company to act as its external incubation arm, launching 3-5 direct-to-consumer brands per year.
What you’ll do with us:
- Work in a fast-paced, high-impact team to develop and prioritize new strategies, product initiatives, and growth programs
- Own P&L of newly launched brand to meet volume, sales and margin goals; including pricing, costing, cost savings, determining and managing budgets.
- Manage budget, forecasting, research and insights, and business case development
- Manage relationship with key cross-functional partners: design agencies, manufacturers, investment team, R&D and other external agencies
- Responsible for managing new product creation; including, concept development, feasibility validation, product and packaging creation, project execution, distribution goals, financial impacts, customer sell-in, e-commerce management, and tracking in-market performance
- Quickly analyze large amounts of data to identify insights and translate into business initiatives and actionable tasks to improve business results
- Responsible for assessing the business environment, competitors, consumer, market trends, and implications to the business and making recommendations.
What you bring to the table:
- Demonstrated bias for action and ability to manage projects independently from start to finish
- Proven ability to lead product strategy and drive product development from conceptualization, design and development, to launch in a fast-paced, agile environment
- Experience leading a highly cross-functional team with ability to manage complex projects with multiple stakeholders and priorities
- 5-7 years relevant CPG experience in Brand/Product Management or Innovation, including P&L management; 3+ years experience in e-commerce and direct to consumer products
- Proven track record of identifying high value, low cost solutions to problems by balancing business and consumer needs with technological capabilities
- Highly analytical, Excel ninja, SQL skills a plus
- Experience building/bringing to market products for multiple users a plus
- Experience with a physical and/or subscription product a plus
- MBA preferred
Why you’ll love this job:
- We’re a small team that enjoys working hard, getting a lot done, and having fun
- Very few opportunities offer such a wide range of exposure to different businesses and business functions
- Few roles offer this level of exposure to build something from the ground up and be on the front lines of emerging consumer trends